Wesbanco Bank Inc. Buys New Position in Vimeo, Inc. (NASDAQ:VMEO)

Wesbanco Bank Inc. purchased a new position in shares of Vimeo, Inc. (NASDAQ:VMEO) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 20,000 shares of the company’s stock, valued at approximately $128,000.

A number of other hedge funds have also recently modified their holdings of VMEO. Lynrock Lake LP lifted its position in Vimeo by 124.9% during the second quarter. Lynrock Lake LP now owns 15,731,386 shares of the company’s stock valued at $58,678,000 after purchasing an additional 8,735,044 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Vimeo by 27.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,612,973 shares of the company’s stock valued at $17,207,000 after buying an additional 987,923 shares in the last quarter. FMR LLC grew its stake in shares of Vimeo by 65.1% during the 3rd quarter. FMR LLC now owns 1,392,457 shares of the company’s stock valued at $7,032,000 after acquiring an additional 548,812 shares during the period. Harvey Partners LLC increased its holdings in Vimeo by 7.0% in the 3rd quarter. Harvey Partners LLC now owns 4,035,000 shares of the company’s stock worth $20,377,000 after acquiring an additional 265,000 shares in the last quarter. Finally, Royce & Associates LP raised its stake in Vimeo by 51.7% during the 3rd quarter. Royce & Associates LP now owns 613,061 shares of the company’s stock worth $3,096,000 after acquiring an additional 209,033 shares during the period. Institutional investors own 84.97% of the company’s stock.

Vimeo Price Performance

Shares of NASDAQ VMEO opened at $6.52 on Friday. The business’s 50 day moving average is $6.62 and its two-hundred day moving average is $5.49. Vimeo, Inc. has a 1-year low of $3.43 and a 1-year high of $7.90. The stock has a market capitalization of $1.08 billion, a P/E ratio of 32.60 and a beta of 2.20.

Vimeo (NASDAQ:VMEO) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.04. Vimeo had a return on equity of 8.56% and a net margin of 8.08%. The company had revenue of $104.56 million for the quarter, compared to analysts’ expectations of $99.48 million. During the same period in the previous year, the firm posted $0.05 earnings per share. The firm’s revenue for the quarter was down 1.6% on a year-over-year basis. As a group, equities research analysts anticipate that Vimeo, Inc. will post 0.18 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on VMEO shares. Piper Sandler upgraded shares of Vimeo from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $7.00 to $10.00 in a research report on Tuesday, December 10th. TD Cowen boosted their price objective on Vimeo from $6.00 to $7.00 and gave the company a “hold” rating in a research report on Tuesday, November 5th. Finally, Truist Financial boosted their target price on Vimeo from $7.00 to $9.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th.

Vimeo Profile

Vimeo, Inc, together with its subsidiaries, provides video software solutions worldwide. It provides the video tools through a software-as-a-service model, which enables its users to create, collaborate, and communicate with video on a single platform. The company also offers over-the-top OTT streaming and monetization services; AI-driven video creation and editing tools; and interactive and shoppable video tools.