Mesirow Financial Investment Management Inc. Sells 2,668 Shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

Mesirow Financial Investment Management Inc. trimmed its stake in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) by 17.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 12,418 shares of the company’s stock after selling 2,668 shares during the period. Mesirow Financial Investment Management Inc.’s holdings in Grid Dynamics were worth $174,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of GDYN. Fourth Sail Capital LP raised its stake in shares of Grid Dynamics by 138.0% in the second quarter. Fourth Sail Capital LP now owns 769,924 shares of the company’s stock valued at $8,092,000 after acquiring an additional 446,477 shares during the last quarter. Summit Creek Advisors LLC boosted its stake in Grid Dynamics by 25.1% in the second quarter. Summit Creek Advisors LLC now owns 1,147,992 shares of the company’s stock worth $12,065,000 after purchasing an additional 230,688 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Grid Dynamics by 14.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,672,906 shares of the company’s stock worth $17,581,000 after purchasing an additional 206,201 shares in the last quarter. Silvercrest Asset Management Group LLC grew its holdings in shares of Grid Dynamics by 43.1% during the first quarter. Silvercrest Asset Management Group LLC now owns 604,481 shares of the company’s stock worth $7,429,000 after purchasing an additional 182,052 shares during the last quarter. Finally, Lord Abbett & CO. LLC increased its stake in shares of Grid Dynamics by 42.3% in the first quarter. Lord Abbett & CO. LLC now owns 479,302 shares of the company’s stock valued at $5,890,000 after buying an additional 142,446 shares in the last quarter. 71.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Grid Dynamics

In related news, CEO Leonard Livschitz sold 15,000 shares of the firm’s stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $13.73, for a total transaction of $205,950.00. Following the sale, the chief executive officer now owns 3,475,901 shares of the company’s stock, valued at approximately $47,724,120.73. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CFO Anil Doradla sold 4,000 shares of the firm’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $17.66, for a total transaction of $70,640.00. Following the sale, the chief financial officer now directly owns 376,282 shares in the company, valued at $6,645,140.12. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Leonard Livschitz sold 15,000 shares of the company’s stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $13.73, for a total transaction of $205,950.00. Following the completion of the transaction, the chief executive officer now directly owns 3,475,901 shares of the company’s stock, valued at approximately $47,724,120.73. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 950,387 shares of company stock worth $12,239,324. 7.40% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. JPMorgan Chase & Co. upped their price target on shares of Grid Dynamics from $17.00 to $18.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. TD Cowen increased their price target on shares of Grid Dynamics from $16.00 to $19.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Needham & Company LLC boosted their price objective on shares of Grid Dynamics from $17.00 to $20.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Citigroup increased their price objective on Grid Dynamics from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Monday, October 28th. Finally, Cantor Fitzgerald upgraded Grid Dynamics to a “strong-buy” rating in a research report on Monday, August 12th. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $17.50.

Grid Dynamics Stock Down 5.4 %

GDYN stock opened at $18.08 on Thursday. Grid Dynamics Holdings, Inc. has a twelve month low of $9.07 and a twelve month high of $19.86. The company has a market cap of $1.39 billion, a P/E ratio of 602.87 and a beta of 1.04. The business’s fifty day moving average is $14.99 and its 200-day moving average is $12.59.

Grid Dynamics (NASDAQ:GDYN) last issued its earnings results on Thursday, October 31st. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. The firm had revenue of $87.40 million for the quarter, compared to analysts’ expectations of $85.09 million. Grid Dynamics had a return on equity of 0.15% and a net margin of 0.74%. The company’s revenue was up 12.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.08 earnings per share.

About Grid Dynamics

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.