Invenomic Capital Management LP Purchases 149,164 Shares of Ziff Davis, Inc. $ZD

Invenomic Capital Management LP lifted its position in Ziff Davis, Inc. (NASDAQ:ZD) by 36.5% during the 4th quarter, HoldingsChannel reports. The firm owned 557,613 shares of the technology company’s stock after buying an additional 149,164 shares during the period. Invenomic Capital Management LP’s holdings in Ziff Davis were worth $19,600,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Federated Hermes Inc. bought a new position in Ziff Davis in the fourth quarter valued at $25,000. NBC Securities Inc. increased its stake in Ziff Davis by 121.3% in the fourth quarter. NBC Securities Inc. now owns 885 shares of the technology company’s stock valued at $31,000 after acquiring an additional 485 shares during the last quarter. Hantz Financial Services Inc. increased its stake in 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 acquiring an additional 590 shares during the last quarter. GAMMA Investing LLC increased its stake in Ziff Davis by 207.1% in the fourth quarter. GAMMA Investing LLC now owns 906 shares of the technology company’s stock valued at $32,000 after acquiring an additional 611 shares during the last quarter. Finally, TD Private Client Wealth LLC bought a new position in Ziff Davis in the fourth quarter valued at $52,000. Institutional investors own 99.76% of the company’s stock.

Ziff Davis Stock Performance

NASDAQ ZD opened at $44.32 on Thursday. The company has a 50-day simple moving average of $44.79 and a two-hundred day simple moving average of $39.46. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.42. Ziff Davis, Inc. has a 12-month low of $22.45 and a 12-month high of $50.55. The firm has a market cap of $1.63 billion, a price-to-earnings ratio of 39.22 and a beta of 1.12.

Ziff Davis (NASDAQ:ZD) last posted its quarterly earnings results on Thursday, May 7th. The technology company reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.01. Ziff Davis had a net margin of 3.26% and a return on equity of 12.17%. The business had revenue of $267.64 million during the quarter, compared to analyst estimates of $264.32 million. During the same period in the prior year, the business posted $1.14 earnings per share. The company’s revenue was down 1.9% on a year-over-year basis. On average, equities analysts forecast that Ziff Davis, Inc. will post 4.08 EPS for the current year.

Insider Buying and Selling at Ziff Davis

In other Ziff Davis news, Director Kirk P. Mcdonald sold 1,075 shares of the company’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $46.65, for a total transaction of $50,148.75. Following the completion of the sale, the director directly owned 13,468 shares in the company, valued at $628,282.20. This represents a 7.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Jeremy Rossen sold 8,000 shares of the company’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $47.00, for a total transaction of $376,000.00. Following the sale, the executive vice president owned 14,462 shares of the company’s stock, valued at approximately $679,714. The trade was a 35.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 31,422 shares of company stock worth $1,468,864 over the last three months. Company insiders own 3.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on ZD. 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. Weiss Ratings raised Ziff Davis from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, June 1st. Zacks Research cut Ziff Davis from a “hold” rating to a “strong sell” rating in a research note on Wednesday, May 6th. Susquehanna increased their target price on Ziff Davis from $45.00 to $60.00 and gave the company a “positive” rating in a research note on Tuesday, May 5th. Finally, Royal Bank Of Canada increased their target price on Ziff Davis from $40.00 to $48.00 and gave the company an “outperform” rating in a research note on Monday, May 11th. Three analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $47.25.

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.