Heron Bay Capital Management Has $353,000 Position in Zedge, Inc. $ZDGE

Heron Bay Capital Management lifted its stake in Zedge, Inc. (NYSEAMERICAN:ZDGE) by 285.0% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 87,976 shares of the company’s stock after acquiring an additional 65,127 shares during the period. Heron Bay Capital Management’s holdings in Zedge were worth $353,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in ZDGE. Thompson Davis & CO. Inc. bought a new position in Zedge during the first quarter valued at about $84,000. Ridgewood Investments LLC bought a new stake in shares of Zedge in the 2nd quarter worth approximately $322,000. Finally, Bailard Inc. acquired a new stake in shares of Zedge during the 2nd quarter worth approximately $47,000. 29.37% of the stock is owned by institutional investors and hedge funds.

Zedge Trading Up 2.5%

Shares of NYSEAMERICAN ZDGE opened at $2.42 on Friday. The business has a fifty day simple moving average of $2.98 and a 200 day simple moving average of $3.19. The firm has a market capitalization of $30.20 million, a price-to-earnings ratio of -14.24 and a beta of 1.51. Zedge, Inc. has a one year low of $1.73 and a one year high of $4.89.

Zedge Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 7th. Shareholders of record on Friday, October 24th were issued a $0.016 dividend. This represents a $0.06 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend was Friday, October 24th. Zedge’s payout ratio is -8.96%.

About Zedge

Zedge, Inc builds digital marketplaces and competitive games around content that people use to express themselves. It offers the Zedge Ringtones and Wallpapers app, a freemium digital content marketplace that provides a wide array of mobile personalization content, including mobile phone wallpapers, video wallpapers, ringtones, and notification sounds.