Oppenheimer & Co. Inc. Buys New Stake in ironSource Ltd. (NYSE:IS)

Oppenheimer & Co. Inc. bought a new stake in ironSource Ltd. (NYSE:ISGet Rating) during the second quarter, according to its most recent disclosure with the SEC. The firm bought 20,800 shares of the company’s stock, valued at approximately $50,000.

A number of other hedge funds have also recently modified their holdings of IS. Parallel Advisors LLC boosted its stake in ironSource by 109.6% during the 1st quarter. Parallel Advisors LLC now owns 11,331 shares of the company’s stock worth $57,000 after purchasing an additional 5,924 shares during the period. DGS Capital Management LLC acquired a new stake in shares of ironSource in the 1st quarter worth $60,000. Jag Capital Management LLC acquired a new stake in shares of ironSource in the 2nd quarter worth $30,000. Private Advisor Group LLC acquired a new stake in shares of ironSource in the 2nd quarter worth $31,000. Finally, Prelude Capital Management LLC acquired a new stake in shares of ironSource in the 1st quarter worth $71,000. 22.26% of the stock is owned by hedge funds and other institutional investors.

ironSource Stock Down 3.2 %

Shares of NYSE IS opened at $2.74 on Monday. ironSource Ltd. has a 52 week low of $2.20 and a 52 week high of $13.14. The firm has a 50-day moving average price of $3.32 and a 200 day moving average price of $3.33. The stock has a market capitalization of $2.77 billion, a price-to-earnings ratio of 45.67, a price-to-earnings-growth ratio of 0.57 and a beta of 1.64.

Wall Street Analysts Forecast Growth

IS has been the subject of several recent analyst reports. Wolfe Research initiated coverage on shares of ironSource in a research note on Tuesday, August 16th. They issued a “market perform” rating for the company. Credit Suisse Group cut shares of ironSource from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $13.00 to $5.42 in a research note on Thursday, August 11th. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $5.83.

About ironSource

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ironSource Ltd. operates a business platform for app developers and telecom operators in Israel and internationally. The company's platforms include Sonic solution suite that supports developers to launch, monetize, and scale their apps and games by providing solutions for app discovery, user growth, content monetization, analytics, and publishing; and Aura solution suite, which allows telecom operators to enrich the device experience by creating new engagement touchpoints that deliver relevant content for their users across the entire lifecycle of the device.

Further Reading

Institutional Ownership by Quarter for ironSource (NYSE:IS)

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