Miller Value Partners LLC Buys Shares of 50,602 Ziff Davis, Inc. $ZD

Miller Value Partners LLC purchased a new position in Ziff Davis, Inc. (NASDAQ:ZD) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 50,602 shares of the technology company’s stock, valued at approximately $2,650,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in ZD. Jupiter Topco LLC bought a new position in Ziff Davis in the 2nd quarter worth about $187,893,000. Legal & General Group Plc bought a new stake in Ziff Davis during the 2nd quarter valued at about $94,314,000. Pale Fire Capital SE increased its stake in Ziff Davis by 130.0% during the 1st quarter. Pale Fire Capital SE now owns 2,783,366 shares of the technology company’s stock valued at $116,790,000 after purchasing an additional 1,573,414 shares in the last quarter. First Trust Advisors LP raised its holdings in Ziff Davis by 689.6% in 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. Finally, Rice Hall James & Associates LLC purchased a new position in Ziff Davis in the second quarter worth about $43,022,000. Hedge funds and other institutional investors own 99.76% of the company’s stock.

Ziff Davis Trading Down 0.6%

Shares of ZD stock opened at $55.41 on Wednesday. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 0.32. Ziff Davis, Inc. has a 12-month low of $22.45 and a 12-month high of $58.06. The stock has a market capitalization of $1.90 billion, a P/E ratio of 3.14 and a beta of 1.08. The firm’s 50 day moving average is $52.41 and its 200 day moving average is $45.14.

Ziff Davis (NASDAQ:ZD) last announced its earnings results on Thursday, August 6th. The technology company reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.22. The business had revenue of $286.74 million during 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 company’s quarterly revenue was down 18.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.24 EPS.

Analysts Set New Price Targets

A number of research firms have recently commented on ZD. Susquehanna increased their price target on shares of Ziff Davis from $60.00 to $75.00 and gave the company a “positive” rating in a report on Monday, August 10th. Evercore reaffirmed an “outperform” rating and issued a $64.00 price objective on shares of Ziff Davis in a research report on Monday, August 10th. Barclays increased their target price on Ziff Davis from $45.00 to $48.00 and gave the company an “equal weight” rating in a research note on Monday, May 11th. Piper Sandler set a $48.00 price target on Ziff Davis in a research note on Monday, May 11th. Finally, Zacks Research downgraded Ziff Davis from a “hold” rating to a “strong sell” rating in a report on Wednesday, May 6th. Three research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $56.62.

Insider Buying and Selling

In other Ziff Davis news, CAO Lori A. Tansley sold 1,400 shares of the firm’s stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $54.76, for a total value of $76,664.00. Following the transaction, the chief accounting officer directly owned 767 shares of the company’s stock, valued at approximately $42,000.92. This trade represents a 64.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible 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 sale, the chief financial officer owned 29,244 shares of the company’s stock, valued at approximately $1,370,958.72. This represents a 38.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 39,154 shares of company stock valued at $1,894,300 over the last ninety days. 3.40% of the stock is owned by insiders.

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.