Whitefort Capital Management LP bought a new position in shares of Ziff Davis, Inc. (NASDAQ:ZD – Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 418,389 shares of the technology company’s stock, valued at approximately $21,911,032. Ziff Davis makes up about 0.0% of Whitefort Capital Management LP’s portfolio, making the stock its 8th biggest position. Whitefort Capital Management LP owned 1.22% of Ziff Davis at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Ziff Davis by 2.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 160,656 shares of the technology company’s stock worth $6,037,000 after purchasing an additional 3,696 shares during the last quarter. Invesco Ltd. increased its holdings in Ziff Davis by 1.3% during the second quarter. Invesco Ltd. now owns 188,595 shares of the technology company’s stock valued at $5,709,000 after buying an additional 2,347 shares during the period. First Trust Advisors LP increased its stake in shares of Ziff Davis by 46.2% in the second quarter. First Trust Advisors LP now owns 100,549 shares of the technology company’s stock worth $3,044,000 after acquiring an additional 31,765 shares during the period. Jump Financial LLC acquired a new position in shares of Ziff Davis during the second quarter valued at approximately $927,000. Finally, Cerity Partners LLC acquired a new position in Ziff Davis in the second quarter valued at about $380,000. Hedge funds and other institutional investors own 99.76% of the company’s stock.
Analysts Set New Price Targets
A number of brokerages have commented on ZD. Susquehanna increased their target price on Ziff Davis from $60.00 to $75.00 and gave the company a “positive” rating in a report on Monday, August 10th. Royal Bank Of Canada raised their price target on Ziff Davis from $48.00 to $65.00 and gave the company an “outperform” rating in a report on Monday, August 10th. UBS Group boosted their price target on Ziff Davis from $30.00 to $59.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 12th. Citigroup boosted their price objective on shares of Ziff Davis from $48.00 to $59.00 and gave the stock a “neutral” rating in a research note on Monday, August 10th. Finally, Weiss Ratings upgraded shares of Ziff Davis from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday. Three research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $56.62.
Insider Buying and Selling at Ziff Davis
In other news, CFO Bret Richter sold 18,000 shares of the stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $46.88, for a total value of $843,840.00. Following the transaction, the chief financial officer directly owned 29,244 shares of the company’s stock, valued at $1,370,958.72. This represents a 38.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kirk P. Mcdonald sold 1,075 shares of the company’s stock in a transaction dated 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 approximately $628,282.20. The trade was a 7.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 34,807 shares of company stock worth $1,695,424 over the last three months. Company insiders own 3.40% of the company’s stock.
Ziff Davis Trading Up 0.0%
Shares of NASDAQ:ZD traded up $0.02 during mid-day trading on Friday, reaching $55.84. 147,223 shares of the company were exchanged, compared to its average volume of 777,052. The firm has a market cap of $1.91 billion, a price-to-earnings ratio of 3.16 and a beta of 1.08. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.16 and a quick ratio of 2.16. Ziff Davis, Inc. has a 1 year low of $22.45 and a 1 year high of $58.06. The firm’s 50-day simple moving average is $52.83 and its 200 day simple moving average is $45.46.
Ziff Davis (NASDAQ:ZD – Get Free Report) last released its earnings results on Thursday, August 6th. The technology company reported $1.03 EPS for the quarter, topping the consensus estimate of $0.81 by $0.22. The firm had revenue of $286.74 million during the quarter, compared to analysts’ expectations of $286.10 million. Ziff Davis had a net margin of 48.57% and a return on equity of 10.73%. Ziff Davis’s revenue for the quarter was down 18.7% on a year-over-year basis. During the same period in the previous year, the company earned $1.24 EPS.
Ziff Davis Company Profile
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.
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