Mesirow Financial Investment Management Inc. Lowers Position in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

Mesirow Financial Investment Management Inc. decreased its holdings in shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) by 23.4% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 15,052 shares of the company’s stock after selling 4,591 shares during the period. Mesirow Financial Investment Management Inc.’s holdings in Grid Dynamics were worth $185,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Charles Schwab Investment Management Inc. boosted its holdings in Grid Dynamics by 7.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 428,407 shares of the company’s stock worth $5,218,000 after buying an additional 29,892 shares during the period. Dark Forest Capital Management LP purchased a new position in shares of Grid Dynamics during the third quarter worth approximately $260,000. Trexquant Investment LP purchased a new position in shares of Grid Dynamics during the third quarter worth approximately $405,000. American Trust boosted its stake in shares of Grid Dynamics by 10.1% during the third quarter. American Trust now owns 12,963 shares of the company’s stock valued at $158,000 after purchasing an additional 1,186 shares in the last quarter. Finally, Wellington Management Group LLP boosted its stake in Grid Dynamics by 113.9% in the third quarter. Wellington Management Group LLP now owns 1,482,626 shares of the company’s stock valued at $18,058,000 after acquiring an additional 789,373 shares in the last quarter. Institutional investors own 71.18% of the company’s stock.

Insider Buying and Selling at Grid Dynamics

In related news, CEO Leonard Livschitz sold 15,000 shares of Grid Dynamics stock in a transaction on Tuesday, April 9th. The shares were sold at an average price of $11.87, for a total value of $178,050.00. Following the completion of the sale, the chief executive officer now owns 3,670,691 shares in the company, valued at $43,571,102.17. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director Shuo Zhang sold 4,000 shares of the company’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $9.34, for a total value of $37,360.00. Following the transaction, the director now owns 22,015 shares in the company, valued at approximately $205,620.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Leonard Livschitz sold 15,000 shares of the stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $11.87, for a total transaction of $178,050.00. Following the completion of the sale, the chief executive officer now directly owns 3,670,691 shares of the company’s stock, valued at $43,571,102.17. The disclosure for this sale can be found here. Insiders have sold a total of 75,000 shares of company stock valued at $777,810 over the last ninety days. Corporate insiders own 7.40% of the company’s stock.

Grid Dynamics Stock Performance

Grid Dynamics stock traded down $0.04 during trading hours on Wednesday, reaching $10.53. 175,370 shares of the stock were exchanged, compared to its average volume of 328,449. The firm’s 50 day moving average is $10.02 and its 200 day moving average is $11.79. The stock has a market cap of $805.76 million, a P/E ratio of 352.45 and a beta of 1.05. Grid Dynamics Holdings, Inc. has a 52-week low of $9.00 and a 52-week high of $14.70.

Grid Dynamics (NASDAQ:GDYN) last posted its earnings results on Thursday, May 2nd. The company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.09). Grid Dynamics had a net margin of 0.72% and a return on equity of 3.31%. The business had revenue of $79.82 million for the quarter, compared to analysts’ expectations of $77.48 million. Equities research analysts expect that Grid Dynamics Holdings, Inc. will post 0.03 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on GDYN shares. JPMorgan Chase & Co. lowered their price objective on shares of Grid Dynamics from $17.00 to $15.00 and set an “overweight” rating for the company in a research note on Thursday, May 2nd. Wedbush reaffirmed an “outperform” rating and issued a $13.00 price objective on shares of Grid Dynamics in a report on Thursday, May 23rd. Citigroup dropped their target price on shares of Grid Dynamics from $17.00 to $15.00 and set a “buy” rating on the stock in a research report on Monday, April 22nd. Cantor Fitzgerald boosted their price target on shares of Grid Dynamics from $14.00 to $17.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 13th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $16.00 target price on shares of Grid Dynamics in a report on Friday, May 3rd. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $15.20.

Grid Dynamics Company Profile

Grid Dynamics Holdings, Inc, together with its subsidiaries, provides technology consulting, platform and product engineering, and analytics services in North America, Europe, and internationally. It offers cloud platform and product engineering services, such as architecting, designing, and building scalable and secure cloud-based platforms and business applications; and AI/machine learning and data platform engineering services that build platforms to facilitate batch and streaming data ingestion, quality governance, orchestration, semantic modeling, observability, and analysis at scale.