Gaia (NASDAQ:GAIA) Downgraded to Hold at Zacks Investment Research

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Zacks Investment Research cut shares of Gaia (NASDAQ:GAIA) from a buy rating to a hold rating in a research note published on Tuesday, Zacks.com reports.

According to Zacks, “Gaia, Inc. provides digital video subscription service. Its video content is available through online digital streaming on virtually any Internet-connected device on a commercial-free basis. The Company’s subscribers access to a library of films, personal growth-related content, documentaries, interviews, yoga classes and fitness. It created a fitness and yoga-focused version of its video service. Gaia, Inc., formerly known as Gaiam Inc., is based in Louisville, United States. “

Other equities analysts have also issued reports about the stock. Lake Street Capital reduced their target price on shares of Gaia from $20.00 to $15.00 and set a buy rating on the stock in a research report on Tuesday, August 6th. ValuEngine raised shares of Gaia from a hold rating to a buy rating in a research report on Wednesday, September 11th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Gaia has a consensus rating of Buy and an average price target of $16.08.

Shares of NASDAQ GAIA opened at $7.54 on Tuesday. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.43 and a quick ratio of 1.43. Gaia has a 1 year low of $5.68 and a 1 year high of $17.20. The firm has a 50-day simple moving average of $7.17 and a two-hundred day simple moving average of $8.01.

Gaia (NASDAQ:GAIA) last issued its earnings results on Monday, August 5th. The company reported ($0.25) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.31) by $0.06. The business had revenue of $13.16 million for the quarter, compared to analyst estimates of $13.09 million. Gaia had a negative net margin of 66.00% and a negative return on equity of 39.97%. On average, sell-side analysts expect that Gaia will post -1.1 EPS for the current fiscal year.

In related news, Chairman James Keenan bought 50,000 shares of Gaia stock in a transaction dated Friday, August 16th. The shares were acquired at an average cost of $5.28 per share, with a total value of $264,000.00. Following the completion of the transaction, the chairman now owns 91,000 shares in the company, valued at approximately $480,480. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Corina S. Granado bought 100,000 shares of Gaia stock in a transaction dated Thursday, August 22nd. The shares were bought at an average cost of $12.00 per share, for a total transaction of $1,200,000.00. Over the last ninety days, insiders have bought 278,379 shares of company stock worth $2,369,126. Corporate insiders own 34.83% of the company’s stock.

A number of hedge funds have recently modified their holdings of the stock. Parametric Portfolio Associates LLC increased its holdings in Gaia by 24.4% during the second quarter. Parametric Portfolio Associates LLC now owns 14,812 shares of the company’s stock valued at $112,000 after buying an additional 2,901 shares during the period. Marshall Wace North America L.P. increased its holdings in Gaia by 76.1% during the first quarter. Marshall Wace North America L.P. now owns 7,498 shares of the company’s stock valued at $69,000 after buying an additional 3,240 shares during the period. Northern Trust Corp increased its holdings in Gaia by 2.7% during the second quarter. Northern Trust Corp now owns 128,042 shares of the company’s stock valued at $971,000 after buying an additional 3,335 shares during the period. Bank of New York Mellon Corp increased its holdings in Gaia by 12.1% during the second quarter. Bank of New York Mellon Corp now owns 41,972 shares of the company’s stock valued at $317,000 after buying an additional 4,524 shares during the period. Finally, Bank of America Corp DE increased its holdings in Gaia by 146.0% during the fourth quarter. Bank of America Corp DE now owns 9,896 shares of the company’s stock valued at $102,000 after buying an additional 5,873 shares during the period. 47.81% of the stock is currently owned by institutional investors.

About Gaia

Gaia, Inc operates a digital video subscription service and online community that caters underserved subscriber base worldwide. The company has a digital content library of approximately 8,000 titles available to its subscribers on Internet-connected devices. Its subscribers have access to a library of films, documentaries, interviews, yoga classes, transformation related content, and others for digital streaming.

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