SG Americas Securities LLC reduced its position in shares of Ziff Davis, Inc. (NASDAQ:ZD – Free Report) by 55.4% during the first quarter, Holdings Channel reports. The firm owned 10,085 shares of the technology company’s stock after selling 12,502 shares during the period. SG Americas Securities LLC’s holdings in Ziff Davis were worth $423,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in the company. Goldman Sachs Group Inc. increased its stake in Ziff Davis by 260.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 597,573 shares of the technology company’s stock valued at $21,005,000 after buying an additional 431,828 shares during the last quarter. Invenomic Capital Management LP lifted its position in shares of Ziff Davis by 86.0% during the 3rd quarter. Invenomic Capital Management LP now owns 408,449 shares of the technology company’s stock worth $15,562,000 after buying an additional 188,844 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of Ziff Davis by 88.5% in the 4th quarter. AQR Capital Management LLC now owns 399,259 shares of the technology company’s stock worth $14,034,000 after buying an additional 187,431 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in shares of Ziff Davis by 46.1% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 552,385 shares of the technology company’s stock worth $21,046,000 after buying an additional 174,287 shares during the last quarter. Finally, LSV Asset Management grew its holdings in shares of Ziff Davis by 17.5% in the fourth quarter. LSV Asset Management now owns 907,721 shares of the technology company’s stock valued at $31,906,000 after acquiring an additional 135,021 shares in the last quarter. 99.76% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
A number of analysts recently commented on ZD shares. Weiss Ratings raised Ziff Davis from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, June 1st. 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 Ziff Davis in a research report on Monday, May 11th. Royal Bank Of Canada lifted their target price on Ziff Davis from $40.00 to $48.00 and gave the stock an “outperform” rating in a research note on Monday, May 11th. Finally, Evercore reissued an “outperform” rating and issued a $61.00 price target on shares of Ziff Davis in a report on Tuesday, May 12th. Three investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $47.25.
Ziff Davis Trading Down 2.4%
NASDAQ:ZD opened at $51.98 on Thursday. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.42. The stock has a market capitalization of $1.91 billion, a PE ratio of 46.00 and a beta of 1.08. The firm’s 50 day moving average is $46.03 and its 200 day moving average is $41.03. Ziff Davis, Inc. has a 12 month low of $22.45 and a 12 month high of $54.75.
Ziff Davis (NASDAQ:ZD – Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The technology company reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.01. Ziff Davis had a return on equity of 12.17% and a net margin of 3.26%.The business had revenue of $267.64 million during the quarter, compared to analyst estimates of $264.32 million. During the same period in the prior year, the company earned $1.14 earnings per share. Ziff Davis’s revenue was down 1.9% compared to the same quarter last year.
Insider Activity
In related news, EVP Jeremy Rossen sold 8,000 shares of Ziff Davis stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $47.00, for a total value of $376,000.00. Following the completion of the sale, the executive vice president owned 14,462 shares of the company’s stock, valued at approximately $679,714. This trade represents a 35.62% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Bret Richter sold 18,000 shares of the business’s 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 completion of the sale, the chief financial officer owned 29,244 shares in the company, valued at $1,370,958.72. This represents a 38.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 31,422 shares of company stock valued at $1,468,864 in the last 90 days. Insiders own 3.40% of the company’s stock.
Ziff Davis 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.
Featured Articles
- Five stocks we like better than Ziff Davis
- A Market Panic Just Discounted the AI Highway’s Tollbooth
- Why Exxon Could Be the Market’s Next Big Comeback Stock
- The Market Just Got Shaken—These 3 ETFs May Come Out Stronger
- Meta Platforms’ Cloud Push: Growth Opportunity Versus AI Concerns
Want to see what other hedge funds are holding ZD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ziff Davis, Inc. (NASDAQ:ZD – Free Report).
Receive News & Ratings for Ziff Davis Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ziff Davis and related companies with MarketBeat.com's FREE daily email newsletter.
