Great Lakes Advisors LLC purchased a new stake in Ziff Davis, Inc. (NASDAQ:ZD – Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 54,795 shares of the technology company’s stock, valued at approximately $2,870,000. Great Lakes Advisors LLC owned about 0.15% of Ziff Davis as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. Corsair Capital Management L.P. acquired a new position in shares of Ziff Davis in the 1st quarter valued at $1,888,000. Aldebaran Capital LLC acquired a new stake in shares of Ziff Davis during the first quarter worth $1,728,000. NewGen Asset Management Ltd bought a new stake in Ziff Davis in the first quarter valued at about $2,203,000. Brave Asset Management Inc. lifted its stake in Ziff Davis by 11.9% in the first quarter. Brave Asset Management Inc. now owns 470,282 shares of the technology company’s stock valued at $19,733,000 after buying an additional 50,127 shares during the period. Finally, First Trust Advisors LP boosted its holdings in Ziff Davis by 689.6% during the first quarter. First Trust Advisors LP now owns 974,591 shares of the technology company’s stock worth $40,894,000 after buying an additional 851,163 shares during the last quarter. Institutional investors and hedge funds own 99.76% of the company’s stock.
Analyst Ratings Changes
A number of analysts have recently commented on the company. Weiss Ratings raised Ziff Davis from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 11th. Susquehanna upped their target price on shares of Ziff Davis from $60.00 to $75.00 and gave the company a “positive” rating in a research note on Monday, August 10th. Citigroup increased their target price on shares of Ziff Davis from $48.00 to $59.00 and gave the stock a “neutral” rating in a report on Monday, August 10th. Barclays boosted their price target on shares of Ziff Davis from $45.00 to $48.00 and gave the company an “equal weight” rating in a report on Monday, May 11th. Finally, Royal Bank Of Canada upped their price objective on shares of Ziff Davis from $48.00 to $65.00 and gave the company an “outperform” rating in a research report on Monday, August 10th. Three equities 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 company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $56.62.
Insider Activity
In other Ziff Davis news, Director W Brian Kretzmer sold 2,513 shares of Ziff Davis stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $55.31, for a total value of $138,994.03. Following the sale, the director owned 20,000 shares of the company’s stock, valued at $1,106,200. This trade represents a 11.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Jeremy Rossen sold 8,000 shares of the business’s stock in a transaction dated Friday, June 5th. The shares were 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 in the company, valued at approximately $679,714. This trade represents a 35.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 39,154 shares of company stock worth $1,894,300. 3.40% of the stock is currently owned by insiders.
Ziff Davis Stock Performance
Shares of ZD stock opened at $55.40 on Friday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.16 and a current ratio of 2.16. The company has a market capitalization of $1.90 billion, a P/E ratio of 3.14 and a beta of 1.08. The company’s 50 day moving average price is $51.82 and its two-hundred day moving average price is $44.72. Ziff Davis, Inc. has a 52 week low of $22.45 and a 52 week high of $58.06.
Ziff Davis (NASDAQ:ZD – Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The technology company reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.22. Ziff Davis had a net margin of 48.57% and a return on equity of 10.73%. The company had revenue of $286.74 million during the quarter, compared to analysts’ expectations of $286.10 million. During the same quarter in the prior year, the company earned $1.24 earnings per share. The business’s quarterly revenue was down 18.7% compared to the same quarter last year.
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.
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