Private Management Group Inc. Increases Stake in Veritone, Inc. (NASDAQ:VERI)

Private Management Group Inc. grew its stake in Veritone, Inc. (NASDAQ:VERI - Free Report) by 18.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,891,845 shares of the company's stock after purchasing an additional 452,861 shares during the quarter. Private Management Group Inc. owned approximately 7.65% of Veritone worth $10,382,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. acquired a new position in Veritone during the first quarter worth about $65,000. State Board of Administration of Florida Retirement System acquired a new position in Veritone during the first quarter worth about $88,000. Vanguard Group Inc. boosted its position in Veritone by 5.4% during the first quarter. Vanguard Group Inc. now owns 2,703,417 shares of the company's stock worth $14,220,000 after acquiring an additional 138,194 shares during the last quarter. Summit Securities Group LLC acquired a new position in Veritone during the second quarter worth about $58,000. Finally, Bfsg LLC boosted its position in Veritone by 31.6% during the second quarter. Bfsg LLC now owns 20,675 shares of the company's stock worth $47,000 after acquiring an additional 4,960 shares during the last quarter. Institutional investors and hedge funds own 39.18% of the company's stock.

Wall Street Analyst Weigh In

Separately, UBS Group upgraded shares of Veritone from a "sell" rating to a "neutral" rating and set a $3.50 price target on the stock in a research report on Wednesday.

Veritone Trading Up 0.3 %

NASDAQ:VERI traded up $0.01 on Friday, hitting $3.26. The stock had a trading volume of 413,223 shares, compared to its average volume of 1,164,649. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 9.02. The stock has a market cap of $124.14 million, a price-to-earnings ratio of -1.51 and a beta of 3.33. The company has a fifty day moving average price of $3.58 and a two-hundred day moving average price of $3.19. Veritone, Inc. has a 1-year low of $1.48 and a 1-year high of $7.76.

Veritone (NASDAQ:VERI - Get Free Report) last posted its earnings results on Thursday, August 8th. The company reported ($0.24) earnings per share for the quarter. The firm had revenue of $30.99 million during the quarter. Veritone had a negative net margin of 42.56% and a negative return on equity of 222.47%.

Veritone Company Profile

Veritone, Inc, together with its subsidiaries, engages in the provision of artificial intelligence (AI) computing solutions and services in the United States, the United Kingdom, France, Australia, Israel, and India. It develops and operates aiWARE platform, an AI operating system, that uses machine learning algorithms or AI models designed to mimic human cognitive functions, such as perception, prediction, and problem solving and optimization, as well as enables users to transform unstructured data into structured data, and analyze and optimize data to drive business processes and insights.