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Allspring Global Investments Holdings LLC Purchases 51,868 Shares of Loyalty Ventures Inc. (NASDAQ:LYLT)

Defense World ·  Jan 30, 2023 04:42

Allspring Global Investments Holdings LLC raised its position in Loyalty Ventures Inc. (NASDAQ:LYLT – Get Rating) by 316.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 68,259 shares of the company's stock after purchasing an additional 51,868 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.28% of Loyalty Ventures worth $82,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of LYLT. Ensign Peak Advisors Inc bought a new position in Loyalty Ventures in the first quarter valued at about $109,000. Dynamic Technology Lab Private Ltd bought a new position in shares of Loyalty Ventures during the first quarter worth about $326,000. Royal Bank of Canada bought a new position in shares of Loyalty Ventures during the first quarter worth about $45,000. Quantbot Technologies LP bought a new position in shares of Loyalty Ventures during the first quarter worth about $183,000. Finally, Point72 Hong Kong Ltd bought a new position in shares of Loyalty Ventures during the first quarter worth about $54,000. 63.99% of the stock is currently owned by institutional investors.

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Loyalty Ventures Stock Performance

Shares of LYLT stock opened at $2.10 on Monday. The company has a market cap of $51.68 million, a P/E ratio of -0.10 and a beta of 2.87. The stock has a 50 day simple moving average of $2.18 and a two-hundred day simple moving average of $2.08. Loyalty Ventures Inc. has a fifty-two week low of $0.71 and a fifty-two week high of $30.56.

Loyalty Ventures (NASDAQ:LYLT – Get Rating) last issued its earnings results on Tuesday, November 8th. The company reported ($0.01) earnings per share for the quarter, missing analysts' consensus estimates of $0.13 by ($0.14). The business had revenue of $162.37 million during the quarter, compared to the consensus estimate of $158.40 million. Loyalty Ventures had a positive return on equity of 8.58% and a negative net margin of 68.27%. On average, research analysts predict that Loyalty Ventures Inc. will post -0.58 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on LYLT. Needham & Company LLC lowered their price objective on Loyalty Ventures from $5.00 to $4.00 and set a "buy" rating for the company in a research report on Wednesday, November 9th. Morgan Stanley lowered their price objective on Loyalty Ventures from $4.00 to $2.00 and set an "equal weight" rating for the company in a research report on Wednesday, January 4th.

Loyalty Ventures Profile

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Loyalty Ventures Inc provides consumer loyalty solutions. The company owns and operates the AIR MILES Reward Program, an end-to-end loyalty platform; and BrandLoyalty, a campaign-based loyalty solution for grocers and other high-frequency retailers. It also offers marketing, customer, and rewards and redemption management services for sponsors.

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