Fintel reports that Cannae Holdings has filed a 13D/A form with the SEC disclosing ownership of 27.12MM shares of System1 Group Plc (SST). This represents 29.7% of the company.
In their previous filing dated May 23, 2022 they reported 25.45MM shares and 28.10% of the company, an increase in shares of 6.57% and an increase in total ownership of 1.60% (calculated as current – previous percent ownership).
Analyst Price Forecast Suggests 103.16% Upside
As of March 14, 2023, the average one-year price target for System1 Group is $7.40. The forecasts range from a low of $4.04 to a high of $10.50. The average price target represents an increase of 103.16% from its latest reported closing price of $3.64.
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The projected annual revenue for System1 Group is $893MM, an increase of 6.40%. The projected annual non-GAAP EPS is -$0.98.
What is the Fund Sentiment?
There are 62 funds or institutions reporting positions in System1 Group. This is a decrease of 10 owner(s) or 13.89% in the last quarter. Average portfolio weight of all funds dedicated to SST is 0.12%, a decrease of 23.94%. Total shares owned by institutions decreased in the last three months by 0.69% to 29,418K shares. The put/call ratio of SST is 0.30, indicating a bullish outlook.
What are Large Shareholders Doing?
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 727K shares representing 0.79% ownership of the company. No change in the last quarter.
FOOLX – MFAM Global Opportunities Fund Investor Shares holds 552K shares representing 0.60% ownership of the company. In it’s prior filing, the firm reported owning 567K shares, representing a decrease of 2.79%. The firm decreased its portfolio allocation in SST by 31.45% over the last quarter.
Huber Capital Management holds 302K shares representing 0.33% ownership of the company. In it’s prior filing, the firm reported owning 169K shares, representing an increase of 44.11%. The firm decreased its portfolio allocation in SST by 99.88% over the last quarter.
VEXMX – Vanguard Extended Market Index Fund Investor Shares holds 242K shares representing 0.26% ownership of the company. In it’s prior filing, the firm reported owning 237K shares, representing an increase of 1.77%. The firm decreased its portfolio allocation in SST by 26.85% over the last quarter.
Pacific Ridge Capital Partners holds 233K shares representing 0.26% ownership of the company. In it’s prior filing, the firm reported owning 146K shares, representing an increase of 37.41%. The firm decreased its portfolio allocation in SST by 99.89% over the last quarter.
System1 Background Information
(This description is provided by the company.)
System1, Inc. engages in the development of a proprietary end-to-end responsive acquisition marketing platform.
This article originally appeared on Fintel
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