Gaia (NASDAQ:GAIA) announced its quarterly earnings results on Monday. The company reported ($0.58) EPS for the quarter, missing analysts’ consensus estimates of ($0.41) by ($0.17), Morningstar.com reports. The business had revenue of $11.39 million for the quarter, compared to the consensus estimate of $11.27 million. Gaia had a negative return on equity of 25.71% and a negative net margin of 64.31%.
GAIA traded down $1.78 during midday trading on Tuesday, reaching $13.90. 409,970 shares of the company’s stock were exchanged, compared to its average volume of 93,532. The stock has a market cap of $275.30 million, a price-to-earnings ratio of -8.85 and a beta of 0.68. Gaia has a one year low of $11.32 and a one year high of $22.75.
Hedge funds and other institutional investors have recently bought and sold shares of the company. The Manufacturers Life Insurance Company increased its holdings in shares of Gaia by 237.2% during the first quarter. The Manufacturers Life Insurance Company now owns 8,240 shares of the company’s stock worth $128,000 after buying an additional 5,796 shares in the last quarter. Citadel Advisors LLC acquired a new stake in shares of Gaia during the second quarter worth approximately $332,000. Schwab Charles Investment Management Inc. increased its holdings in shares of Gaia by 65.9% during the second quarter. Schwab Charles Investment Management Inc. now owns 22,400 shares of the company’s stock worth $454,000 after buying an additional 8,900 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Gaia by 2,519.1% during the first quarter. JPMorgan Chase & Co. now owns 49,658 shares of the company’s stock worth $770,000 after buying an additional 47,762 shares in the last quarter. Finally, Millennium Management LLC increased its holdings in shares of Gaia by 81.2% during the first quarter. Millennium Management LLC now owns 100,863 shares of the company’s stock worth $1,563,000 after buying an additional 45,207 shares in the last quarter. 43.22% of the stock is owned by institutional investors.
A number of research analysts have commented on GAIA shares. Zacks Investment Research upgraded shares of Gaia from a “hold” rating to a “strong-buy” rating and set a $18.00 price target for the company in a research note on Wednesday, October 10th. BidaskClub cut shares of Gaia from a “buy” rating to a “hold” rating in a research note on Saturday, July 28th. Finally, Lake Street Capital raised their price target on shares of Gaia to $28.00 and gave the stock a “buy” rating in a research note on Tuesday, August 7th. One investment analyst has rated the stock with a hold rating, four have given a buy rating and two have issued a strong buy rating to the stock. Gaia presently has an average rating of “Buy” and an average target price of $23.80.
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Gaia, Inc operates a digital video subscription service and online community that caters underserved subscribers worldwide. The company has a digital content library of approximately 8,000 titles available to its subscribers on Internet-connected devices. Its subscribers have access to a library of films, documentaries, interviews, yoga classes, transformation related content, and others for digital streaming.
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