Loomis Sayles & Co. L P Trims Stock Position in Grid Dynamics Holdings, Inc. $GDYN

Loomis Sayles & Co. L P lessened its stake in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) by 2.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,552,386 shares of the company’s stock after selling 60,937 shares during the period. Loomis Sayles & Co. L P owned 3.01% of Grid Dynamics worth $29,480,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Russell Investments Group Ltd. lifted its holdings in shares of Grid Dynamics by 28.7% in the 2nd quarter. Russell Investments Group Ltd. now owns 207,111 shares of the company’s stock valued at $2,392,000 after purchasing an additional 46,184 shares during the last quarter. XTX Topco Ltd acquired a new position in Grid Dynamics during the second quarter worth approximately $376,000. Rhumbline Advisers lifted its stake in Grid Dynamics by 9.7% in the second quarter. Rhumbline Advisers now owns 183,251 shares of the company’s stock valued at $2,117,000 after buying an additional 16,202 shares during the last quarter. CenterBook Partners LP boosted its holdings in shares of Grid Dynamics by 169.1% in the second quarter. CenterBook Partners LP now owns 308,317 shares of the company’s stock valued at $3,561,000 after acquiring an additional 193,733 shares during the period. Finally, Legal & General Group Plc grew its position in shares of Grid Dynamics by 3.1% during the second quarter. Legal & General Group Plc now owns 170,774 shares of the company’s stock worth $1,972,000 after acquiring an additional 5,124 shares during the last quarter. Hedge funds and other institutional investors own 71.18% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on GDYN shares. Weiss Ratings reiterated a “sell (d+)” rating on shares of Grid Dynamics in a research report on Wednesday, October 8th. Needham & Company LLC reduced their target price on shares of Grid Dynamics from $15.00 to $13.00 and set a “buy” rating for the company in a report on Friday, October 31st. Jefferies Financial Group started coverage on shares of Grid Dynamics in a research note on Monday, September 22nd. They set a “buy” rating and a $11.00 target price for the company. Zacks Research upgraded Grid Dynamics from a “strong sell” rating to a “hold” rating in a research report on Monday, October 6th. Finally, JPMorgan Chase & Co. decreased their price objective on Grid Dynamics from $11.00 to $10.00 and set an “overweight” rating for the company in a research report on Friday, October 31st. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $11.33.

Grid Dynamics Stock Up 1.0%

NASDAQ GDYN opened at $8.76 on Friday. The stock has a market capitalization of $742.16 million, a P/E ratio of 58.37 and a beta of 1.07. Grid Dynamics Holdings, Inc. has a 52-week low of $7.37 and a 52-week high of $25.50. The firm has a 50-day moving average price of $8.23 and a 200 day moving average price of $9.58.

Grid Dynamics (NASDAQ:GDYN) last announced its quarterly earnings data on Thursday, October 30th. The company reported $0.09 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.09. The company had revenue of $104.16 million for the quarter, compared to analyst estimates of $103.64 million. Grid Dynamics had a return on equity of 1.74% and a net margin of 3.42%.The firm’s revenue for the quarter was up 19.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.14 EPS. Grid Dynamics has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. On average, equities research analysts expect that Grid Dynamics Holdings, Inc. will post 0.18 earnings per share for the current fiscal year.

About Grid Dynamics

Grid Dynamics Holdings, Inc, together with its subsidiaries, provides technology consulting, platform and product engineering, and analytics services in North America, Europe, and internationally. It offers cloud platform and product engineering services, such as architecting, designing, and building scalable and secure cloud-based platforms and business applications; and AI/machine learning and data platform engineering services that build platforms to facilitate batch and streaming data ingestion, quality governance, orchestration, semantic modeling, observability, and analysis at scale.