Zedge (NYSEAMERICAN:ZDGE) Stock Price Up 3.4% – Still a Buy?

Shares of Zedge, Inc. (NYSEAMERICAN:ZDGE) rose 3.4% during mid-day trading on Wednesday . The stock traded as high as $3.07 and last traded at $3.01. Approximately 67,847 shares were traded during mid-day trading, an increase of 2% from the average daily volume of 66,280 shares. The stock had previously closed at $2.91.

Zedge Price Performance

The firm’s fifty day moving average price is $3.05 and its two-hundred day moving average price is $3.05. The stock has a market cap of $38.44 million, a price-to-earnings ratio of 16.53 and a beta of 1.32.

Zedge Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Monday, April 6th were given a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend was Monday, April 6th. This is a positive change from Zedge’s previous quarterly dividend of $0.02. Zedge’s payout ratio is currently -8.96%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of ZDGE. HRT Financial LP purchased a new stake in shares of Zedge during the 4th quarter valued at approximately $158,000. Goldman Sachs Group Inc. increased its holdings in shares of Zedge by 35.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 42,029 shares of the company’s stock worth $138,000 after buying an additional 11,022 shares during the last quarter. Bailard Inc. increased its holdings in shares of Zedge by 51.1% in the 4th quarter. Bailard Inc. now owns 60,100 shares of the company’s stock worth $197,000 after buying an additional 20,337 shares during the last quarter. Citadel Advisors LLC increased its holdings in shares of Zedge by 304.7% in the 3rd quarter. Citadel Advisors LLC now owns 49,520 shares of the company’s stock worth $144,000 after buying an additional 37,285 shares during the last quarter. Finally, Squarepoint Ops LLC bought a new position in shares of Zedge during the 3rd quarter valued at $37,000. 29.37% of the stock is owned by institutional investors.

Zedge Company Profile

Zedge, Inc (NYSE American: ZDGE) is a digital media and technology company that operates a mobile personalization platform. Through its flagship Zedge app and website, the company provides consumers with a wide range of downloadable digital content, including wallpapers, ringtones, notification sounds, app icons and lock screens. The platform accommodates both free and premium content, enabling users to customize their smartphones and tablets according to personal taste.

The company’s platform features content created by independent designers and established media brands, and it supports multiple languages and regional preferences.