Great West Life Assurance Co. Can acquired a new stake in Web.com Group Inc (NYSE:WEB) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 6,327 shares of the company’s stock, valued at approximately $125,000.
Other large investors have also added to or reduced their stakes in the company. Acadian Asset Management LLC acquired a new stake in Web.com Group during the second quarter valued at about $529,000. Capital Management Corp VA acquired a new stake in Web.com Group during the second quarter valued at about $2,371,000. Pembroke Management LTD acquired a new stake in Web.com Group during the second quarter valued at about $26,130,000. MSI Financial Services Inc acquired a new stake in Web.com Group during the second quarter valued at about $405,000. Finally, Bank of Montreal Can acquired a new stake in Web.com Group during the second quarter valued at about $183,000.
Shares of Web.com Group Inc (NYSE:WEB) traded down 1.28% on Monday, hitting $17.73. 208,082 shares of the stock traded hands. The stock has a 50-day moving average price of $17.51 and a 200 day moving average price of $18.16. The stock has a market cap of $873.95 million and a price-to-earnings ratio of 11.01. Web.com Group Inc has a 12-month low of $15.71 and a 12-month high of $25.00.
Web.com Group (NYSE:WEB) last posted its quarterly earnings results on Thursday, August 4th. The company reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $0.03. The company earned $193.90 million during the quarter, compared to analysts’ expectations of $194.14 million. Web.com Group’s revenue for the quarter was up 38.5% compared to the same quarter last year. During the same period last year, the company earned $0.60 earnings per share. On average, analysts anticipate that Web.com Group Inc will post $2.61 earnings per share for the current fiscal year.
WEB has been the subject of several research reports. B. Riley reiterated a “buy” rating and set a $30.00 price objective on shares of Web.com Group in a research note on Friday, June 10th. Piper Jaffray Cos. reiterated a “buy” rating on shares of Web.com Group in a research note on Sunday, June 26th. Zacks Investment Research upgraded shares of Web.com Group from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a research note on Thursday, July 7th. Deutsche Bank AG decreased their price objective on shares of Web.com Group from $19.00 to $17.00 and set a “hold” rating for the company in a research note on Friday, August 5th. Finally, RBC Capital Markets reiterated a “hold” rating and set a $23.00 price objective on shares of Web.com Group in a research note on Sunday, August 7th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $23.40.
In other news, major shareholder Opportunistic Value Fun Okumus sold 99,600 shares of the stock in a transaction that occurred on Thursday, July 14th. The shares were sold at an average price of $18.70, for a total value of $1,862,520.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
About Web.com Group
Web.com Group, Inc provides a range of Internet services to small businesses. The Company operates through Web services and products segment. The Company offers subscription-based solutions including domains, hosting, Website design and management, search engine optimization, online marketing campaigns, local sales leads, social media, mobile products and e-commerce solutions.
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