Zedge (NYSEAMERICAN:ZDGE) Announces Quarterly Earnings Results

Zedge (NYSEAMERICAN:ZDGE – Get Free Report) released its quarterly earnings data on Thursday. The company reported $0.07 EPS for the quarter, topping the consensus estimate of $0.05 by $0.02, FiscalAI reports. The company had revenue of $7.99 million for the quarter, compared to the consensus estimate of $7.00 million. Zedge had a positive return on equity of 10.36% and a negative net margin of 6.03%.

Zedge Stock Performance

ZDGE traded up $0.19 during trading on Thursday, hitting $3.31. 238,730 shares of the stock were exchanged, compared to its average volume of 71,991. The firm has a 50 day simple moving average of $3.06 and a 200 day simple moving average of $3.09. The firm has a market cap of $41.44 million, a price-to-earnings ratio of -22.07 and a beta of 1.26. Zedge has a 1 year low of $2.21 and a 1 year high of $4.89.

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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 issued a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 2.4%. The ex-dividend date was Monday, April 6th. This is an increase from Zedge’s previous quarterly dividend of $0.02. Zedge’s dividend payout ratio (DPR) is -8.96%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of ZDGE. NewEdge Advisors LLC acquired a new position in shares of Zedge in the 2nd quarter valued at about $191,000. Marshall Wace LLP acquired a new position in shares of Zedge in the 2nd quarter valued at about $331,000. HRT Financial LP acquired a new position in shares of Zedge in the 4th quarter valued at about $158,000. Goldman Sachs Group Inc. lifted 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 valued at $138,000 after buying an additional 11,022 shares during the period. Finally, Citadel Advisors LLC lifted 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 valued at $144,000 after buying an additional 37,285 shares during the period. 29.37% of the stock is currently owned by hedge funds and other institutional investors.

About Zedge

(Get Free Report)

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.

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