j2 Global, Inc. (JCOM) Shares Sold by QS Investors LLC
QS Investors LLC lowered its stake in shares of j2 Global, Inc. (NASDAQ:JCOM) by 1.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 70,902 shares of the technology company’s stock after selling 1,192 shares during the period. QS Investors LLC owned 0.15% of j2 Global worth $6,033,000 at the end of the most recent quarter.
Several other hedge funds also recently modified their holdings of JCOM. Horizon Investment Services LLC grew its position in j2 Global by 146.7% during the 1st quarter. Horizon Investment Services LLC now owns 17,401 shares of the technology company’s stock worth $1,460,000 after purchasing an additional 10,347 shares during the last quarter. Skandinaviska Enskilda Banken AB publ purchased a new stake in j2 Global during the 1st quarter worth approximately $6,579,000. James Investment Research Inc. purchased a new stake in j2 Global during the 2nd quarter worth approximately $1,287,000. Alliancebernstein L.P. grew its position in j2 Global by 52.3% during the 1st quarter. Alliancebernstein L.P. now owns 131,219 shares of the technology company’s stock worth $11,011,000 after purchasing an additional 45,040 shares during the last quarter. Finally, Visionary Asset Management Inc. purchased a new stake in j2 Global during the 2nd quarter worth approximately $330,000.
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Several analysts have weighed in on the stock. Zacks Investment Research downgraded shares of j2 Global from a “hold” rating to a “sell” rating in a research report on Wednesday, August 9th. BidaskClub raised shares of j2 Global from a “hold” rating to a “buy” rating in a research report on Saturday, June 24th. Robert W. Baird reissued a “buy” rating and set a $94.00 target price on shares of j2 Global in a research report on Friday, September 1st. Citigroup Inc. dropped their target price on shares of j2 Global from $89.00 to $88.00 and set a “neutral” rating on the stock in a research report on Monday, August 7th. Finally, ValuEngine downgraded shares of j2 Global from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $100.60.
j2 Global, Inc. (NASDAQ:JCOM) traded down 0.47% during mid-day trading on Friday, reaching $73.88. 417,709 shares of the company’s stock traded hands. The stock has a market capitalization of $3.57 billion, a PE ratio of 24.75 and a beta of 0.97. The stock’s 50 day moving average is $75.01 and its 200-day moving average is $82.67. j2 Global, Inc. has a 52 week low of $62.55 and a 52 week high of $91.48.
j2 Global (NASDAQ:JCOM) last announced its quarterly earnings results on Thursday, August 3rd. The technology company reported $1.25 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.31 by ($0.06). The company had revenue of $273.20 million during the quarter, compared to analysts’ expectations of $271.89 million. j2 Global had a net margin of 14.74% and a return on equity of 26.62%. The business’s revenue for the quarter was up 29.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.21 earnings per share. On average, equities analysts anticipate that j2 Global, Inc. will post $5.76 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Monday, August 14th were paid a $0.385 dividend. This is a positive change from j2 Global’s previous quarterly dividend of $0.38. This represents a $1.54 annualized dividend and a yield of 2.08%. The ex-dividend date of this dividend was Thursday, August 10th. j2 Global’s dividend payout ratio is currently 51.68%.
j2 Global Company Profile
j2 Global, Inc is a provider of services delivered through the Internet. The Company provides cloud services to businesses of all sizes, from individuals to enterprises. The Company operates in two segments: Business Cloud Services and Digital Media. The Company’s Digital Media business segment consists of the Web properties and business operations of Ziff Davis, Inc (Ziff Davis).
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