Alliancebernstein L.P. Acquires New Position in ZAGG Inc (ZAGG)

Alliancebernstein L.P. acquired a new stake in shares of ZAGG Inc (NASDAQ:ZAGG) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 19,500 shares of the specialty retailer’s stock, valued at approximately $169,000. Alliancebernstein L.P. owned about 0.07% of ZAGG at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in ZAGG. Seizert Capital Partners LLC boosted its holdings in shares of ZAGG by 2.7% during the second quarter. Seizert Capital Partners LLC now owns 300,999 shares of the specialty retailer’s stock worth $2,604,000 after purchasing an additional 7,989 shares during the period. Royce & Associates LP lifted its holdings in ZAGG by 43.4% in the second quarter. Royce & Associates LP now owns 576,154 shares of the specialty retailer’s stock worth $4,984,000 after buying an additional 174,254 shares during the period. Strs Ohio lifted its holdings in ZAGG by 170.9% in the second quarter. Strs Ohio now owns 61,500 shares of the specialty retailer’s stock worth $531,000 after buying an additional 38,800 shares during the period. Perkins Capital Management Inc. purchased a new stake in ZAGG in the second quarter worth about $602,000. Finally, Acadian Asset Management LLC lifted its holdings in ZAGG by 610.3% in the second quarter. Acadian Asset Management LLC now owns 32,141 shares of the specialty retailer’s stock worth $278,000 after buying an additional 27,616 shares during the period. 83.13% of the stock is currently owned by hedge funds and other institutional investors.

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ZAGG has been the subject of several recent research reports. Zacks Investment Research upgraded shares of ZAGG from a “hold” rating to a “strong-buy” rating and set a $20.00 target price for the company in a report on Thursday, October 26th. Craig Hallum reissued a “buy” rating and set a $23.00 price target (up previously from $16.00) on shares of ZAGG in a research report on Thursday, October 19th. Roth Capital set a $17.00 price target on shares of ZAGG and gave the company a “hold” rating in a research report on Tuesday, October 17th. TheStreet raised shares of ZAGG from a “c” rating to a “b-” rating in a research report on Wednesday, November 1st. Finally, B. Riley raised shares of ZAGG from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $17.00 to $20.00 in a research report on Thursday, November 2nd. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $17.67.

ZAGG Inc (NASDAQ:ZAGG) opened at $20.15 on Wednesday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.68 and a current ratio of 1.12. ZAGG Inc has a one year low of $5.90 and a one year high of $20.95. The firm has a market cap of $555.31, a price-to-earnings ratio of 74.04, a P/E/G ratio of 3.90 and a beta of 0.82.

ZAGG (NASDAQ:ZAGG) last released its earnings results on Wednesday, November 1st. The specialty retailer reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.02. The company had revenue of $134.40 million for the quarter, compared to analysts’ expectations of $128.23 million. ZAGG had a net margin of 0.63% and a return on equity of 6.59%. ZAGG’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.29 EPS. research analysts expect that ZAGG Inc will post 0.99 earnings per share for the current year.

In related news, CEO Randall L. Hales sold 50,001 shares of the company’s stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $19.16, for a total transaction of $958,019.16. Following the transaction, the chief executive officer now directly owns 713,380 shares in the company, valued at approximately $13,668,360.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Randall L. Hales sold 19,829 shares of the company’s stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $19.85, for a total transaction of $393,605.65. Following the transaction, the chief executive officer now owns 713,380 shares in the company, valued at $14,160,593. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 99,830 shares of company stock worth $1,903,425. Insiders own 4.20% of the company’s stock.

ZAGG Profile

ZAGG Inc (ZAGG) designs, produces and distributes professional product solutions for mobile devices, including screen protection (glass and film), keyboards for tablet computers and mobile devices, keyboard cases, earbuds, mobile power solutions, cables, and cases under the ZAGG and InvisibleShield brands.

Institutional Ownership by Quarter for ZAGG (NASDAQ:ZAGG)

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