Miracle Mile Advisors LLC Acquires Shares of 15,000 Forge Global Holdings, Inc. (NYSE:FRGE)

Miracle Mile Advisors LLC acquired a new stake in Forge Global Holdings, Inc. (NYSE:FRGE) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 15,000 shares of the company’s stock, valued at approximately $29,000.

Other institutional investors also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC grew its holdings in shares of Forge Global by 177.5% in the 4th quarter. Tower Research Capital LLC TRC now owns 15,725 shares of the company’s stock worth $54,000 after acquiring an additional 10,058 shares during the period. Ausdal Financial Partners Inc. acquired a new stake in shares of Forge Global in the 4th quarter worth approximately $71,000. Arizona State Retirement System acquired a new stake in shares of Forge Global in the 4th quarter worth approximately $109,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in Forge Global during the 4th quarter valued at $134,000. Finally, SG Americas Securities LLC grew its holdings in Forge Global by 17.5% during the 4th quarter. SG Americas Securities LLC now owns 51,810 shares of the company’s stock valued at $178,000 after buying an additional 7,720 shares during the last quarter. Hedge funds and other institutional investors own 40.67% of the company’s stock.

Insiders Place Their Bets

In other Forge Global news, CEO Kelly Rodriques sold 20,803 shares of the stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $1.84, for a total transaction of $38,277.52. Following the transaction, the chief executive officer now owns 10,437,708 shares of the company’s stock, valued at approximately $19,205,382.72. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have sold a total of 115,311 shares of company stock valued at $204,839 in the last quarter. 9.84% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have commented on FRGE shares. Oppenheimer reiterated an “outperform” rating and set a $3.50 target price on shares of Forge Global in a report on Wednesday, March 27th. JMP Securities reiterated a “market outperform” rating and set a $7.00 target price on shares of Forge Global in a report on Tuesday, April 9th.

Forge Global Stock Performance

Shares of NYSE:FRGE opened at $1.46 on Wednesday. The business’s fifty day moving average price is $1.68 and its two-hundred day moving average price is $2.06. The stock has a market cap of $264.32 million, a PE ratio of -2.92 and a beta of 2.39. Forge Global Holdings, Inc. has a one year low of $1.31 and a one year high of $4.02.

Forge Global (NYSE:FRGE) last issued its quarterly earnings results on Tuesday, May 7th. The company reported ($0.10) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.02. Forge Global had a negative return on equity of 29.55% and a negative net margin of 119.12%. The company had revenue of $19.24 million for the quarter, compared to analyst estimates of $19.88 million. As a group, equities research analysts predict that Forge Global Holdings, Inc. will post -0.42 earnings per share for the current fiscal year.

Forge Global Company Profile

Forge Global Holdings, Inc operates a financial services platform in California. The company's platform solutions include trading solutions, a platform that connects investors with private company stockholders and enables them to facilitate private share transactions; and custody solutions, a non-depository trust company that enables clients to securely custody and manage assets through an online portal.