Activist investor Petrus Advisers has amassed a stake of more than 5% in online marketing firm Criteo SA and is calling on the French company to evaluate strategic options and accelerate a share buyback program, reported Bloomberg’s Eyk Henning. “Criteo has what it takes to become an ad-tech market leader – in targeting, retargeting and the emerging retail media space,” Klaus Umek and Till Hufnagel, partners at the activist investor, said in a letter, according to Bloomberg. Shares of Criteo trading in New York are up about 4% to $32.69 following the report.
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Read More on CRTO:
- Criteo price target raised to $40 from $36 at Benchmark
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- Wells Fargo upgrades Criteo to Overweight, raises price target to $41
- Criteo price target raised to $31 from $27 at JPMorgan
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