Corsair Capital Management L.P. Buys New Position in Ziff Davis, Inc. $ZD

Corsair Capital Management L.P. bought a new stake in shares of Ziff Davis, Inc. (NASDAQ:ZDFree Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 45,000 shares of the technology company’s stock, valued at approximately $1,888,000. Ziff Davis comprises approximately 0.3% of Corsair Capital Management L.P.’s holdings, making the stock its 28th largest position.

Other institutional investors have also added to or reduced their stakes in the company. Pale Fire Capital SE boosted its stake in shares of Ziff Davis by 130.0% during the 1st quarter. Pale Fire Capital SE now owns 2,783,366 shares of the technology company’s stock worth $116,790,000 after acquiring an additional 1,573,414 shares during the last quarter. First Trust Advisors LP increased its stake in shares of Ziff Davis by 689.6% in the 1st quarter. First Trust Advisors LP now owns 974,591 shares of the technology company’s stock worth $40,894,000 after purchasing an additional 851,163 shares in the last quarter. LSV Asset Management raised its holdings in Ziff Davis by 17.5% in the 4th quarter. LSV Asset Management now owns 907,721 shares of the technology company’s stock worth $31,906,000 after purchasing an additional 135,021 shares during the period. Fuller & Thaler Asset Management Inc. lifted its position in Ziff Davis by 10.6% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 860,582 shares of the technology company’s stock valued at $30,249,000 after purchasing an additional 82,761 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Ziff Davis by 5.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 835,113 shares of the technology company’s stock valued at $29,354,000 after purchasing an additional 44,923 shares during the period. 99.76% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

ZD has been the subject of a number of analyst reports. Susquehanna upped their price target on Ziff Davis from $45.00 to $60.00 and gave the stock a “positive” rating in a research report on Tuesday, May 5th. Royal Bank Of Canada lifted their price objective on Ziff Davis from $40.00 to $48.00 and gave the company an “outperform” rating in a research report on Monday, May 11th. Zacks Research downgraded Ziff Davis from a “hold” rating to a “strong sell” rating in a research note on Wednesday, May 6th. Piper Sandler set a $48.00 target price on shares of Ziff Davis in a report on Monday, May 11th. Finally, Weiss Ratings upgraded shares of Ziff Davis from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, June 1st. Three equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $47.25.

View Our Latest Stock Report on Ziff Davis

Ziff Davis Stock Performance

Shares of ZD opened at $51.60 on Monday. The firm has a market cap of $1.90 billion, a P/E ratio of 45.66 and a beta of 1.08. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.66 and a quick ratio of 1.66. Ziff Davis, Inc. has a 1 year low of $22.45 and a 1 year high of $54.97. The company has a 50 day simple moving average of $48.29 and a two-hundred day simple moving average of $42.51.

Ziff Davis (NASDAQ:ZDGet Free Report) last released its earnings results on Thursday, May 7th. The technology company reported $0.73 EPS for the quarter, topping the consensus estimate of $0.72 by $0.01. Ziff Davis had a net margin of 3.26% and a return on equity of 12.17%. The firm had revenue of $267.64 million for the quarter, compared to the consensus estimate of $264.32 million. During the same quarter in the previous year, the firm earned $1.14 earnings per share. The company’s quarterly revenue was down 1.9% compared to the same quarter last year.

Insider Buying and Selling at Ziff Davis

In other Ziff Davis news, Director Kirk P. Mcdonald sold 1,075 shares of the business’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of $46.65, for a total value of $50,148.75. Following the sale, the director owned 13,468 shares in the company, valued at $628,282.20. The trade was a 7.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Jeremy Rossen sold 8,000 shares of the stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $47.00, for a total transaction of $376,000.00. Following the transaction, the executive vice president directly owned 14,462 shares of the company’s stock, valued at $679,714. This trade represents a 35.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 31,422 shares of company stock worth $1,468,864. Insiders own 3.40% of the company’s stock.

About Ziff Davis

(Free Report)

Ziff Davis, Inc is a digital media and internet company that operates a diverse portfolio of online brands, subscription-based services and performance marketing platforms. The company specializes in technology publishing and digital marketing solutions, offering content, reviews and insights tailored to consumer and enterprise audiences. Ziff Davis’s flagship media properties include PCMag, which provides expert reviews and comparisons of consumer electronics and software, as well as IGN, a leading destination for gaming news, reviews and entertainment coverage.

Founded in 1927 by William B.

See Also

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Institutional Ownership by Quarter for Ziff Davis (NASDAQ:ZD)

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