Invenomic Capital Management LP Raises Stake in Yext, Inc. (NYSE:YEXT)

Invenomic Capital Management LP boosted its position in Yext, Inc. (NYSE:YEXT) by 67.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,503,960 shares of the company’s stock after buying an additional 603,598 shares during the quarter. Invenomic Capital Management LP owned approximately 1.20% of Yext worth $9,069,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. New York State Teachers Retirement System purchased a new stake in shares of Yext in the fourth quarter worth $56,000. Victory Capital Management Inc. increased its position in Yext by 23.1% during the 4th quarter. Victory Capital Management Inc. now owns 13,587 shares of the company’s stock valued at $80,000 after buying an additional 2,547 shares in the last quarter. Oak Thistle LLC acquired a new position in Yext during the 4th quarter valued at about $105,000. Versor Investments LP acquired a new position in Yext during the 4th quarter valued at about $125,000. Finally, EntryPoint Capital LLC grew its stake in Yext by 300.4% during the 1st quarter. EntryPoint Capital LLC now owns 24,447 shares of the company’s stock valued at $147,000 after purchasing an additional 18,342 shares during the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Insider Transactions at Yext

In other news, General Counsel Ho Shin sold 35,000 shares of the firm’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $5.04, for a total transaction of $176,400.00. Following the completion of the transaction, the general counsel now directly owns 125,207 shares in the company, valued at $631,043.28. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 8.40% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on YEXT. DA Davidson lowered their price target on Yext from $7.25 to $5.50 and set a “neutral” rating on the stock in a research report on Tuesday, June 11th. Needham & Company LLC reiterated a “hold” rating on shares of Yext in a research report on Monday, June 10th. Finally, Roth Mkm reiterated a “buy” rating and set a $8.00 price target on shares of Yext in a research report on Tuesday, June 11th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $8.50.

Yext Price Performance

Shares of NYSE:YEXT traded up $0.02 during midday trading on Tuesday, hitting $5.78. The company had a trading volume of 626,086 shares, compared to its average volume of 902,573. The stock has a market cap of $728.46 million, a price-to-earnings ratio of -115.50 and a beta of 1.21. Yext, Inc. has a twelve month low of $4.29 and a twelve month high of $9.87. The business’s 50-day simple moving average is $5.17 and its 200-day simple moving average is $5.60.

Yext (NYSE:YEXT) last issued its quarterly earnings data on Monday, June 10th. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.02). The business had revenue of $95.99 million during the quarter, compared to analysts’ expectations of $96.35 million. Yext had a negative return on equity of 4.17% and a negative net margin of 1.51%. As a group, sell-side analysts forecast that Yext, Inc. will post 0.04 EPS for the current year.

About Yext

Yext, Inc organizes business facts to provide answers to consumer questions in North America and internationally. It operates Yext platform, a cloud-based platform that allows its customers to offer answers to consumer questions, to control the facts about their businesses and the content of their landing pages, and to manage their consumer reviews; and provides customers to update their information and content through its publisher network of maps, apps, search engines, intelligent GPS systems, digital assistants, vertical directories, and social networks, as well as professional services.