Short Interest in Zillow Group, Inc. (Z) Declines By 13.9%
Zillow Group, Inc. (NASDAQ:Z) was the target of a large decline in short interest during the month of March. As of March 31st, there was short interest totalling 21,580,823 shares, a decline of 13.9% from the March 15th total of 25,056,720 shares. Approximately 21.3% of the shares of the company are sold short. Based on an average daily volume of 1,193,680 shares, the days-to-cover ratio is presently 18.1 days.
Zillow Group (NASDAQ:Z) opened at 36.33 on Friday. The firm’s market cap is $6.61 billion. Zillow Group has a one year low of $23.22 and a one year high of $39.88. The firm’s 50 day moving average price is $34.82 and its 200-day moving average price is $35.35.
In other Zillow Group news, insider Greg M. Schwartz sold 96,508 shares of the business’s stock in a transaction dated Tuesday, February 14th. The stock was sold at an average price of $36.16, for a total transaction of $3,489,729.28. Following the sale, the insider now owns 96,508 shares in the company, valued at approximately $3,489,729.28. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 26.97% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of Z. Robeco Institutional Asset Management B.V. acquired a new position in shares of Zillow Group during the third quarter valued at $176,000. Moore Capital Management LP acquired a new position in shares of Zillow Group during the third quarter valued at $212,000. Boothbay Fund Management LLC acquired a new position in shares of Zillow Group during the fourth quarter valued at $231,000. Intellectus Partners LLC acquired a new position in shares of Zillow Group during the fourth quarter valued at $232,000. Finally, Bayesian Capital Management LP acquired a new position in shares of Zillow Group during the fourth quarter valued at $237,000. Hedge funds and other institutional investors own 86.31% of the company’s stock.
Several equities analysts have recently issued reports on Z shares. Morgan Stanley cut Zillow Group from an “overweight” rating to an “equal weight” rating and set a $39.00 price objective for the company. in a report on Friday, January 13th. Zacks Investment Research raised Zillow Group from a “sell” rating to a “hold” rating in a report on Wednesday, January 18th. Stifel Nicolaus initiated coverage on Zillow Group in a report on Thursday, December 22nd. They issued a “hold” rating and a $36.00 price target for the company. Cowen and Company reaffirmed a “market perform” rating and issued a $37.00 price target on shares of Zillow Group in a report on Wednesday, February 8th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $40.00 price target (down previously from $42.00) on shares of Zillow Group in a report on Wednesday, February 8th. Seven analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Zillow Group has an average rating of “Hold” and an average price target of $37.13.
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