Amova Asset Management Americas Inc. Acquires 103,788 Shares of eToro Group Ltd. $ETOR

Amova Asset Management Americas Inc. boosted its stake in shares of eToro Group Ltd. (NASDAQ:ETOR) by 24.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 523,143 shares of the company’s stock after buying an additional 103,788 shares during the quarter. Amova Asset Management Americas Inc. owned approximately 0.64% of eToro Group worth $21,553,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Newbridge Financial Services Group Inc. purchased a new position in eToro Group during the 2nd quarter worth $82,000. Jones Financial Companies Lllp grew its position in shares of eToro Group by 194.9% during the 3rd quarter. Jones Financial Companies Lllp now owns 2,468 shares of the company’s stock worth $101,000 after buying an additional 1,631 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new position in shares of eToro Group during the third quarter valued at $124,000. SBI Securities Co. Ltd. bought a new stake in shares of eToro Group in the 2nd quarter valued at about $128,000. Finally, CI Investments Inc. purchased a new stake in shares of eToro Group in the 3rd quarter worth approximately $146,000.

eToro Group Stock Performance

Shares of ETOR stock opened at $32.64 on Thursday. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.89 and a quick ratio of 4.63. The business has a fifty day moving average of $31.23 and a 200 day moving average of $37.42. The firm has a market capitalization of $2.67 billion and a price-to-earnings ratio of 14.70. eToro Group Ltd. has a 1 year low of $24.74 and a 1 year high of $79.96.

eToro Group (NASDAQ:ETOR) last announced its quarterly earnings data on Tuesday, February 17th. The company reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.11. eToro Group had a return on equity of 21.35% and a net margin of 1.56%.The business had revenue of $3.87 billion for the quarter.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. The Goldman Sachs Group downgraded eToro Group from a “buy” rating to a “neutral” rating and set a $39.00 price target on the stock. in a report on Monday, January 5th. TD Cowen cut their target price on eToro Group from $54.00 to $50.00 and set a “buy” rating on the stock in a research note on Wednesday, January 14th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $52.00 target price on shares of eToro Group in a report on Monday, February 23rd. Mizuho lowered their price target on shares of eToro Group from $65.00 to $60.00 and set an “outperform” rating on the stock in a report on Friday, January 16th. Finally, Deutsche Bank Aktiengesellschaft raised shares of eToro Group from a “hold” rating to a “buy” rating and set a $45.00 price objective on the stock in a research report on Tuesday, November 11th. Ten research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $58.44.

About eToro Group

eToro Group Ltd. (NASDAQ: ETOR) is a global multi-asset brokerage company known for its social trading platform. The company enables individual and institutional investors to trade and invest in a broad range of financial instruments, including stocks, exchange-traded funds (ETFs), commodities, indices, forex, and cryptocurrencies. eToro’s platform integrates a user-friendly interface with advanced trading tools, catering to both novice and experienced market participants.

A distinguishing feature of eToro’s offering is its CopyTrader™ functionality, which allows users to replicate the trades of selected investors on the platform.