Quantitative Investment Management LLC Invests $12.53 Million in Zillow Group, Inc. (ZG) Stock
Quantitative Investment Management LLC bought a new position in Zillow Group, Inc. (NASDAQ:ZG) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 256,600 shares of the technology company’s stock, valued at approximately $12,532,000. Quantitative Investment Management LLC owned approximately 0.14% of Zillow Group at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently modified their holdings of ZG. Advisors Asset Management Inc. bought a new position in Zillow Group in the second quarter worth $161,000. Norris Perne & French LLP MI bought a new position in Zillow Group in the second quarter worth $232,000. Connable Office Inc. bought a new position in Zillow Group in the second quarter worth $245,000. UBS Asset Management Americas Inc. bought a new position in Zillow Group in the fourth quarter worth $200,000. Finally, Public Employees Retirement Association of Colorado raised its holdings in Zillow Group by 0.5% in the second quarter. Public Employees Retirement Association of Colorado now owns 6,054 shares of the technology company’s stock worth $296,000 after purchasing an additional 29 shares in the last quarter. 26.13% of the stock is owned by institutional investors and hedge funds.
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Shares of Zillow Group, Inc. (NASDAQ:ZG) opened at 40.15 on Thursday. Zillow Group, Inc. has a one year low of $31.17 and a one year high of $50.91. The firm has a 50 day moving average price of $41.82 and a 200 day moving average price of $40.88. The stock’s market capitalization is $7.45 billion.
Zillow Group (NASDAQ:ZG) last released its quarterly earnings results on Tuesday, August 8th. The technology company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.11). Zillow Group had a negative return on equity of 0.40% and a negative net margin of 4.47%. The firm had revenue of $266.85 million for the quarter, compared to analysts’ expectations of $262.21 million. During the same quarter in the prior year, the business earned ($0.71) earnings per share. The company’s quarterly revenue was up 28.0% on a year-over-year basis. Analysts predict that Zillow Group, Inc. will post $0.50 earnings per share for the current fiscal year.
A number of equities analysts have issued reports on ZG shares. ValuEngine downgraded Zillow Group from a “hold” rating to a “sell” rating in a report on Wednesday, September 6th. Stephens restated an “overweight” rating and set a $54.00 price target (up from $48.00) on shares of Zillow Group in a report on Monday, June 19th. Zacks Investment Research cut Zillow Group from a “buy” rating to a “hold” rating in a research report on Tuesday, September 12th. Craig Hallum reaffirmed a “buy” rating on shares of Zillow Group in a research report on Thursday, June 22nd. Finally, Deutsche Bank AG reaffirmed a “hold” rating and set a $50.00 price objective (up from $44.00) on shares of Zillow Group in a research report on Monday, August 7th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the company. Zillow Group currently has a consensus rating of “Hold” and an average target price of $45.07.
About Zillow Group
Zillow Group, Inc operates real estate and home-related information marketplaces on mobile and the Web in the United States. The company offers a portfolio of brands and products to enable people find information about homes and connect with local professionals. Its brands focus on various stages of the home lifecycle, including renting, buying, selling, and financing.
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