Randall L. Hales Sells 19,829 Shares of ZAGG Inc (ZAGG) Stock
ZAGG Inc (NASDAQ:ZAGG) CEO Randall L. Hales sold 19,829 shares of the stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $19.85, for a total transaction of $393,605.65. Following the completion of the transaction, the chief executive officer now owns 713,380 shares of the company’s stock, valued at $14,160,593. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
ZAGG Inc (NASDAQ:ZAGG) traded up $0.50 during mid-day trading on Monday, reaching $19.25. 1,335,900 shares of the company traded hands, compared to its average volume of 414,397. ZAGG Inc has a fifty-two week low of $5.90 and a fifty-two week high of $19.81. The firm has a market capitalization of $538.52, a price-to-earnings ratio of 74.04, a PEG ratio of 3.90 and a beta of 0.82. The company has a current ratio of 1.12, a quick ratio of 0.68 and a debt-to-equity ratio of 0.07.
ZAGG (NASDAQ:ZAGG) last released its earnings results on Wednesday, November 1st. The specialty retailer reported $0.34 EPS for the quarter, beating the consensus estimate of $0.32 by $0.02. ZAGG had a net margin of 0.63% and a return on equity of 6.59%. The business had revenue of $134.40 million during the quarter, compared to analyst estimates of $128.23 million. During the same period in the prior year, the business earned $0.29 earnings per share. The business’s quarterly revenue was up 7.8% on a year-over-year basis. equities analysts forecast that ZAGG Inc will post 0.99 earnings per share for the current year.
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A number of hedge funds have recently added to or reduced their stakes in ZAGG. Gotham Asset Management LLC acquired a new stake in ZAGG during the second quarter valued at approximately $100,000. American International Group Inc. lifted its stake in ZAGG by 7.0% during the first quarter. American International Group Inc. now owns 16,976 shares of the specialty retailer’s stock valued at $122,000 after purchasing an additional 1,117 shares during the last quarter. Voya Investment Management LLC lifted its stake in ZAGG by 18.2% during the second quarter. Voya Investment Management LLC now owns 17,709 shares of the specialty retailer’s stock valued at $153,000 after purchasing an additional 2,730 shares during the last quarter. Alliancebernstein L.P. acquired a new stake in ZAGG during the second quarter valued at approximately $169,000. Finally, JPMorgan Chase & Co. lifted its stake in ZAGG by 0.4% during the first quarter. JPMorgan Chase & Co. now owns 24,142 shares of the specialty retailer’s stock valued at $174,000 after purchasing an additional 91 shares during the last quarter. 83.13% of the stock is owned by institutional investors and hedge funds.
ZAGG has been the subject of several recent analyst reports. Zacks Investment Research upgraded shares of ZAGG from a “hold” rating to a “buy” rating and set a $9.50 price objective for the company in a report on Wednesday, July 19th. Northland Securities increased their price objective on shares of ZAGG from $12.00 to $16.00 and gave the company an “outperform” rating in a report on Wednesday, September 13th. Roth Capital set a $17.00 price objective on shares of ZAGG and gave the company a “hold” rating in a report on Tuesday, October 17th. TheStreet upgraded shares of ZAGG from a “c” rating to a “b-” rating in a report on Wednesday, November 1st. Finally, B. Riley upgraded shares of ZAGG from a “neutral” rating to a “buy” rating and increased their price objective for the company from $17.00 to $20.00 in a report on Thursday, November 2nd. One analyst has rated the stock with a hold rating, four have given a buy rating and two have given a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $17.67.
ZAGG Company Profile
ZAGG Inc (ZAGG) designs, produces and distributes professional product solutions for mobile devices, including screen protection (glass and film), keyboards for tablet computers and mobile devices, keyboard cases, earbuds, mobile power solutions, cables, and cases under the ZAGG and InvisibleShield brands.
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