The Manufacturers Life Insurance Company Boosts Stock Holdings in GoPro, Inc. (NASDAQ:GPRO)

The Manufacturers Life Insurance Company grew its holdings in GoPro, Inc. (NASDAQ:GPRO) by 19.8% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 56,609 shares of the company’s stock after purchasing an additional 9,337 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in GoPro were worth $80,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of GPRO. Oak Thistle LLC bought a new position in GoPro in the second quarter worth approximately $32,000. Point72 DIFC Ltd purchased a new stake in shares of GoPro during the 2nd quarter worth $33,000. Point72 Asia Singapore Pte. Ltd. boosted its position in GoPro by 316.9% during the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 24,991 shares of the company’s stock valued at $35,000 after purchasing an additional 18,996 shares in the last quarter. RIA Advisory Group LLC bought a new stake in GoPro during the first quarter valued at about $44,000. Finally, Pinnacle Wealth Planning Services Inc. purchased a new position in GoPro in the first quarter valued at about $54,000. Hedge funds and other institutional investors own 70.09% of the company’s stock.

GoPro Trading Up 3.1 %

GoPro stock opened at $1.31 on Monday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.07 and a current ratio of 1.47. The stock has a market cap of $196.37 million, a PE ratio of -0.55 and a beta of 1.55. The stock has a 50-day moving average of $1.29 and a two-hundred day moving average of $1.48. GoPro, Inc. has a one year low of $1.16 and a one year high of $3.80.

GoPro (NASDAQ:GPRO) last announced its quarterly earnings data on Tuesday, August 6th. The company reported ($0.24) EPS for the quarter, beating the consensus estimate of ($0.25) by $0.01. The firm had revenue of $186.22 million during the quarter, compared to analyst estimates of $170.02 million. GoPro had a negative net margin of 42.19% and a negative return on equity of 24.57%. GoPro’s revenue was down 22.7% on a year-over-year basis. During the same period last year, the firm posted ($0.13) EPS. On average, research analysts anticipate that GoPro, Inc. will post -0.65 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. StockNews.com raised shares of GoPro from a “sell” rating to a “hold” rating in a research report on Friday, September 13th. Wedbush lowered their target price on shares of GoPro from $2.00 to $1.50 and set a “neutral” rating for the company in a research note on Wednesday, August 7th.

GoPro Company Profile

GoPro, Inc develops and sells cameras, mountable and wearable accessories, and subscription services and software in the Americas, Europe, the Middle East, Africa, the Asia and Pacific region, and internationally. The company provides cloud connected HERO12 Black, HERO11 Black, HERO11 Black Mini, HERO10 Black, HERO10 Black Bones, and HERO9 Black waterproof cameras; MAX, a 360-degree waterproof camera; Premium and Premium+ subscription services, which include full access to the Quik app, cloud storage supporting source video and photo quality, camera replacement, and damage protection; Quik subscription that offers access to editing tools, which allows users to edit photos, videos, and create cinematic stories; and Quik desktop and mobile apps that enable users to get their favorite photos and videos with footage from any phone or camera.