Miracle Mile Advisors LLC Boosts Position in Forge Global Holdings, Inc. (NYSE:FRGE)

Miracle Mile Advisors LLC grew its stake in Forge Global Holdings, Inc. (NYSE:FRGE) by 116.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 86,700 shares of the company’s stock after acquiring an additional 46,700 shares during the period. Miracle Mile Advisors LLC’s holdings in Forge Global were worth $81,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Geode Capital Management LLC grew its holdings in Forge Global by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 2,619,886 shares of the company’s stock worth $3,433,000 after acquiring an additional 18,913 shares in the last quarter. State Street Corp lifted its position in shares of Forge Global by 1.2% in the 3rd quarter. State Street Corp now owns 2,263,898 shares of the company’s stock worth $2,966,000 after purchasing an additional 25,833 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Forge Global by 4.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 965,837 shares of the company’s stock valued at $1,265,000 after purchasing an additional 36,913 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Forge Global by 23.1% during the second quarter. Bank of New York Mellon Corp now owns 373,341 shares of the company’s stock valued at $545,000 after buying an additional 70,058 shares during the period. Finally, Interval Partners LP bought a new position in Forge Global in the second quarter worth approximately $373,000. 40.67% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. reaffirmed an “underweight” rating on shares of Forge Global in a research report on Tuesday, January 7th.

Insider Activity at Forge Global

In other Forge Global news, CRO Jennifer Phillips sold 50,000 shares of the business’s stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $1.28, for a total transaction of $64,000.00. Following the sale, the executive now owns 968,497 shares in the company, valued at approximately $1,239,676.16. The trade was a 4.91 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Kelly Rodriques sold 31,735 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $1.02, for a total value of $32,369.70. Following the completion of the transaction, the chief executive officer now directly owns 8,354,377 shares in the company, valued at $8,521,464.54. This represents a 0.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 354,181 shares of company stock valued at $371,131 in the last three months. 9.84% of the stock is owned by insiders.

Forge Global Trading Down 2.7 %

Shares of FRGE opened at $0.78 on Friday. The firm has a market cap of $143.57 million, a PE ratio of -1.80 and a beta of 2.33. Forge Global Holdings, Inc. has a 12 month low of $0.70 and a 12 month high of $3.56. The stock has a fifty day moving average price of $0.94 and a 200-day moving average price of $1.20.

Forge Global (NYSE:FRGE) last released its quarterly earnings results on Wednesday, November 6th. The company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.01). Forge Global had a negative net margin of 95.85% and a negative return on equity of 29.04%. The business had revenue of $19.22 million during the quarter, compared to analysts’ expectations of $22.80 million. As a group, research analysts forecast that Forge Global Holdings, Inc. will post -0.37 EPS for the current year.

Forge Global Profile

Forge Global Holdings, Inc operates a financial services platform in California. The company's platform solutions include trading solutions, a platform that connects investors with private company stockholders and enables them to facilitate private share transactions; and custody solutions, a non-depository trust company that enables clients to securely custody and manage assets through an online portal.