Harvey Partners LLC Buys 265,000 Shares of Vimeo, Inc. (NASDAQ:VMEO)

Harvey Partners LLC lifted its position in shares of Vimeo, Inc. (NASDAQ:VMEO - Free Report) by 7.0% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,035,000 shares of the company's stock after buying an additional 265,000 shares during the quarter. Vimeo makes up 2.3% of Harvey Partners LLC's holdings, making the stock its 17th largest holding. Harvey Partners LLC owned 2.43% of Vimeo worth $20,377,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of VMEO. Price T Rowe Associates Inc. MD lifted its stake in Vimeo by 3.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 181,579 shares of the company's stock worth $743,000 after purchasing an additional 5,776 shares in the last quarter. Williams & Novak LLC purchased a new stake in Vimeo in the 2nd quarter worth $69,000. Dynamic Advisor Solutions LLC lifted its stake in Vimeo by 52.1% in the 2nd quarter. Dynamic Advisor Solutions LLC now owns 18,595 shares of the company's stock worth $69,000 after purchasing an additional 6,370 shares in the last quarter. Nisa Investment Advisors LLC lifted its stake in Vimeo by 42.4% in the 2nd quarter. Nisa Investment Advisors LLC now owns 17,318 shares of the company's stock worth $65,000 after purchasing an additional 5,160 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Vimeo by 5.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 638,944 shares of the company's stock worth $2,383,000 after purchasing an additional 34,316 shares in the last quarter. Hedge funds and other institutional investors own 84.97% of the company's stock.

Vimeo Stock Up 1.4 %

NASDAQ:VMEO traded up $0.09 during mid-day trading on Tuesday, hitting $6.70. 1,132,924 shares of the stock traded hands, compared to its average volume of 1,919,432. The stock has a market capitalization of $1.11 billion, a price-to-earnings ratio of 33.50 and a beta of 2.23. Vimeo, Inc. has a 52 week low of $3.43 and a 52 week high of $7.28. The firm's 50 day moving average is $5.62 and its two-hundred day moving average is $4.75.

Vimeo (NASDAQ:VMEO - Get Free Report) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.01 by $0.04. The company had revenue of $104.56 million for the quarter, compared to the consensus estimate of $99.48 million. Vimeo had a net margin of 8.08% and a return on equity of 8.56%. The firm's revenue was down 1.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.05 EPS. As a group, research analysts predict that Vimeo, Inc. will post 0.18 EPS for the current year.

Analyst Ratings Changes

Several analysts have commented on the stock. TD Cowen boosted their price target on shares of Vimeo from $6.00 to $7.00 and gave the stock a "hold" rating in a research note on Tuesday, November 5th. Truist Financial upped their target price on shares of Vimeo from $7.00 to $9.00 and gave the company a "buy" rating in a research report on Tuesday, November 5th. Finally, Piper Sandler restated a "neutral" rating and set a $7.00 target price (up from $5.00) on shares of Vimeo in a research report on Tuesday, November 5th.

Vimeo Company Profile

Vimeo, Inc, together with its subsidiaries, provides video software solutions worldwide. It provides the video tools through a software-as-a-service model, which enables its users to create, collaborate, and communicate with video on a single platform. The company also offers over-the-top OTT streaming and monetization services; AI-driven video creation and editing tools; and interactive and shoppable video tools.