Whitefort Capital Management LP Acquires Shares of 418,389 Ziff Davis, Inc. $ZD

Whitefort Capital Management LP acquired a new stake in Ziff Davis, Inc. (NASDAQ:ZDFree Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 418,389 shares of the technology company’s stock, valued at approximately $21,911,032,000. Ziff Davis comprises about 5.4% of Whitefort Capital Management LP’s holdings, making the stock its 8th largest position. Whitefort Capital Management LP owned 1.22% of Ziff Davis at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Public Employees Retirement System of Ohio raised its stake in Ziff Davis by 17.1% in the 1st quarter. Public Employees Retirement System of Ohio now owns 2,189 shares of the technology company’s stock valued at $92,000 after acquiring an additional 319 shares during the period. NBC Securities Inc. boosted its position in Ziff Davis by 121.2% during the fourth quarter. NBC Securities Inc. now owns 885 shares of the technology company’s stock worth $31,000 after purchasing an additional 485 shares during the period. California State Teachers Retirement System boosted its position in Ziff Davis by 1.4% during the second quarter. California State Teachers Retirement System now owns 41,167 shares of the technology company’s stock worth $1,246,000 after purchasing an additional 550 shares during the period. Hantz Financial Services Inc. increased its holdings in shares of Ziff Davis by 212.2% in the fourth quarter. Hantz Financial Services Inc. now owns 868 shares of the technology company’s stock valued at $31,000 after purchasing an additional 590 shares during the last quarter. Finally, Rockefeller Capital Management L.P. increased its holdings in shares of Ziff Davis by 226.7% in the fourth quarter. Rockefeller Capital Management L.P. now owns 990 shares of the technology company’s stock valued at $35,000 after purchasing an additional 687 shares during the last quarter. 99.76% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ZD has been the subject of a number of research reports. Royal Bank Of Canada raised their target price on shares of Ziff Davis from $48.00 to $65.00 and gave the stock an “outperform” rating in a research note on Monday, August 10th. Weiss Ratings upgraded shares of Ziff Davis from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 11th. Barclays increased 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. Citigroup raised their price objective on shares of Ziff Davis from $48.00 to $59.00 and gave the stock a “neutral” rating in a research report on Monday, August 10th. Finally, Evercore restated an “outperform” rating and set a $64.00 price objective on shares of Ziff Davis in a 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 assigned a Sell rating to the stock. Based on data from MarketBeat, Ziff Davis presently has an average rating of “Hold” and a consensus target price of $56.62.

Check Out Our Latest Research Report on Ziff Davis

Ziff Davis Price Performance

Shares of NASDAQ ZD opened at $55.41 on Wednesday. Ziff Davis, Inc. has a fifty-two week low of $22.45 and a fifty-two week high of $58.06. The business has a fifty day moving average price of $52.41 and a two-hundred day moving average price of $45.14. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.16 and a quick ratio of 2.16. The stock has a market capitalization of $1.90 billion, a PE ratio of 3.14 and a beta of 1.08.

Ziff Davis (NASDAQ:ZDGet Free Report) last posted its quarterly earnings results on Thursday, August 6th. The technology company reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.22. The business had revenue of $286.74 million for the quarter, compared to analyst estimates of $286.10 million. Ziff Davis had a net margin of 48.57% and a return on equity of 10.73%. The firm’s revenue for the quarter was down 18.7% on a year-over-year basis. During the same quarter last year, the business posted $1.24 EPS.

Insider Activity

In other Ziff Davis news, EVP Jeremy Rossen sold 3,819 shares of the firm’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $54.93, for a total value of $209,777.67. Following the sale, the executive vice president owned 10,643 shares of the company’s stock, valued at approximately $584,619.99. This trade represents a 26.41% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Lori A. Tansley sold 1,400 shares of Ziff Davis stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $54.76, for a total value of $76,664.00. Following the completion of the transaction, the chief accounting officer owned 767 shares in the company, valued at approximately $42,000.92. The trade was a 64.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 39,154 shares of company stock valued at $1,894,300. Corporate insiders own 3.40% of the company’s stock.

Ziff Davis Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Ziff Davis (NASDAQ:ZD)

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