Ziff Davis (NASDAQ:ZD – Get Free Report) released its quarterly earnings results on Thursday. The technology company reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.22, Briefing.com reports. Ziff Davis had a return on equity of 11.46% and a net margin of 48.57%.The business had revenue of $286.74 million during the quarter, compared to analyst estimates of $286.10 million. During the same quarter in the prior year, the company posted $1.24 EPS. Ziff Davis’s quarterly revenue was down 18.7% compared to the same quarter last year.
Ziff Davis Stock Up 5.7%
Shares of ZD stock traded up $2.92 during midday trading on Friday, reaching $53.87. 1,472,437 shares of the stock were exchanged, compared to its average volume of 538,090. Ziff Davis has a 1 year low of $22.45 and a 1 year high of $58.06. The firm has a market cap of $1.98 billion, a PE ratio of 3.05 and a beta of 1.08. The company’s 50 day moving average is $50.23 and its two-hundred day moving average is $43.66. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.42.
Wall Street Analyst Weigh In
ZD has been the topic of a number of recent analyst reports. Zacks Research cut Ziff Davis from a “hold” rating to a “strong sell” rating in a research note on Wednesday, May 6th. Weiss Ratings raised Ziff Davis from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, June 1st. Royal Bank Of Canada lifted their price target on shares of Ziff Davis from $40.00 to $48.00 and gave the company an “outperform” rating in a report on Monday, May 11th. Barclays boosted their price objective on shares of Ziff Davis from $45.00 to $48.00 and gave the company an “equal weight” rating in a research report on Monday, May 11th. Finally, Susquehanna upped their price objective on shares of Ziff Davis from $45.00 to $60.00 and gave the stock a “positive” rating in a report on Tuesday, May 5th. Three research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $47.25.
Insider Activity
In related news, Director Kirk P. Mcdonald sold 1,075 shares of the company’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of $46.65, for a total value of $50,148.75. Following the sale, the director directly owned 13,468 shares of the company’s stock, valued at $628,282.20. This represents a 7.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Jeremy Rossen sold 8,000 shares of the stock in a transaction on 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 transaction, 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 SEC filing for this sale provides additional information. Insiders sold a total of 31,422 shares of company stock worth $1,468,864 in the last quarter. 3.40% of the stock is owned by company insiders.
Institutional Trading of Ziff Davis
Hedge funds and other institutional investors have recently modified their holdings of the business. Corient Private Wealth LLC bought a new position in shares of Ziff Davis in the 4th quarter worth about $269,000. Invesco Ltd. boosted its stake in Ziff Davis by 17.8% during the fourth quarter. Invesco Ltd. now owns 225,357 shares of the technology company’s stock worth $7,921,000 after acquiring an additional 34,064 shares in the last quarter. Mercer Global Advisors Inc. ADV boosted its stake in Ziff Davis by 74.9% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 10,166 shares of the technology company’s stock worth $357,000 after acquiring an additional 4,353 shares in the last quarter. Vident Advisory LLC grew its holdings in Ziff Davis by 11.4% in the fourth quarter. Vident Advisory LLC now owns 20,265 shares of the technology company’s stock worth $712,000 after purchasing an additional 2,068 shares during the period. Finally, State of Tennessee Department of Treasury increased its stake in shares of Ziff Davis by 20.9% during the fourth quarter. State of Tennessee Department of Treasury now owns 23,675 shares of the technology company’s stock valued at $905,000 after purchasing an additional 4,085 shares in the last quarter. 99.76% of the stock is owned by hedge funds and other institutional investors.
About Ziff Davis
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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