Zedge, Inc. Announces Quarterly Dividend of $0.02 (NYSEAMERICAN:ZDGE)

Zedge, Inc. (NYSEAMERICAN:ZDGE – Get Free Report) declared a quarterly dividend on Thursday, June 4th. Shareholders of record on Monday, June 22nd will be given a dividend of 0.02 per share on Tuesday, June 30th. This represents a c) dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend is Monday, June 22nd.

Zedge Price Performance

Shares of ZDGE opened at $2.99 on Friday. The business’s fifty day moving average price is $3.10 and its 200 day moving average price is $3.13. Zedge has a 12-month low of $2.21 and a 12-month high of $4.89. The stock has a market capitalization of $37.49 million, a PE ratio of -33.22 and a beta of 1.26.

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Zedge (NYSEAMERICAN:ZDGE – Get Free Report) last announced its quarterly earnings data on Thursday, June 11th. The company reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.02. Zedge had a negative net margin of 3.62% and a positive return on equity of 11.18%. The business had revenue of $7.99 million during the quarter, compared to the consensus estimate of $7.00 million. As a group, research analysts anticipate that Zedge will post 0.31 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Zedge

Hedge funds have recently made changes to their positions in the company. Marshall Wace LLP purchased a new stake in Zedge in the 2nd quarter worth about $331,000. NewEdge Advisors LLC increased its holdings in shares of Zedge by 2,923.0% during the 1st quarter. NewEdge Advisors LLC now owns 58,918 shares of the company’s stock valued at $173,000 after acquiring an additional 56,969 shares during the last quarter. HRT Financial LP bought a new position in shares of Zedge in the fourth quarter valued at approximately $158,000. Hillsdale Investment Management Inc. raised its holdings in Zedge by 1,982.8% in the 1st quarter. Hillsdale Investment Management Inc. now owns 50,653 shares of the company’s stock worth $148,000 after acquiring an additional 48,221 shares during the period. Finally, Citadel Advisors LLC lifted its position in shares of Zedge by 304.7% during the 3rd quarter. Citadel Advisors LLC now owns 49,520 shares of the company’s stock worth $144,000 after purchasing an additional 37,285 shares during the last quarter. Hedge funds and other institutional investors own 29.37% of the company’s stock.

About Zedge

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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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