Ziff Davis, Inc. $ZD Shares Acquired by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC boosted its stake in Ziff Davis, Inc. (NASDAQ:ZD) by 18.6% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 68,887 shares of the technology company’s stock after purchasing an additional 10,828 shares during the quarter. Wedge Capital Management L L P NC owned about 0.19% of Ziff Davis worth $3,608,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Ziff Davis by 2.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 160,656 shares of the technology company’s stock valued at $6,037,000 after purchasing an additional 3,696 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Ziff Davis by 1.3% during the 2nd quarter. Invesco Ltd. now owns 188,595 shares of the technology company’s stock worth $5,709,000 after buying an additional 2,347 shares during the last quarter. First Trust Advisors LP raised its position in shares of Ziff Davis by 46.2% in the 2nd quarter. First Trust Advisors LP now owns 100,549 shares of the technology company’s stock worth $3,044,000 after buying an additional 31,765 shares during the period. Jump Financial LLC purchased a new position in shares of Ziff Davis in the 2nd quarter worth $927,000. Finally, Cerity Partners LLC acquired a new position in Ziff Davis in the second quarter valued at $380,000. Institutional investors and hedge funds own 99.76% of the company’s stock.

Ziff Davis Price Performance

ZD stock opened at $55.91 on Friday. The company has a quick ratio of 1.66, a current ratio of 2.16 and a debt-to-equity ratio of 0.32. Ziff Davis, Inc. has a 52-week low of $22.45 and a 52-week high of $58.06. The stock’s 50 day moving average is $50.92 and its two-hundred day moving average is $44.16. The company has a market capitalization of $1.92 billion, a PE ratio of 3.16 and a beta of 1.08.

Ziff Davis (NASDAQ:ZD) last released its earnings results on Thursday, August 6th. The technology company reported $1.03 EPS for the quarter, beating the consensus estimate of $0.81 by $0.22. Ziff Davis had a return on equity of 10.73% and a net margin of 48.57%.The company had revenue of $286.74 million during the quarter, compared to analysts’ expectations of $286.10 million. During the same period in the prior year, the business posted $1.24 EPS. The business’s revenue was down 18.7% on a year-over-year basis.

Analyst Upgrades and Downgrades

ZD has been the subject of several research analyst reports. Citigroup upped their price target on Ziff Davis from $48.00 to $59.00 and gave the stock a “neutral” rating in a research note on Monday. Zacks Research lowered Ziff Davis from a “hold” rating to a “strong sell” rating in a research note on Wednesday, May 6th. Evercore reiterated an “outperform” rating and set a $64.00 target price on shares of Ziff Davis in a report on Monday. Barclays increased their target price on shares of Ziff Davis from $45.00 to $48.00 and gave the stock an “equal weight” rating in a research report on Monday, May 11th. Finally, Weiss Ratings upgraded shares of Ziff Davis from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday. Three research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Ziff Davis currently has an average rating of “Hold” and an average price target of $56.62.

Insider Activity at Ziff Davis

In other Ziff Davis news, CFO Bret Richter sold 18,000 shares of the stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $46.88, for a total transaction of $843,840.00. Following the transaction, the chief financial officer directly owned 29,244 shares in the company, valued at $1,370,958.72. This represents a 38.10% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Jeremy Rossen sold 3,819 shares of the firm’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $54.93, for a total transaction of $209,777.67. Following the transaction, the executive vice president directly owned 10,643 shares of the company’s stock, valued at approximately $584,619.99. This represents a 26.41% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 36,641 shares of company stock valued at $1,755,306. Insiders own 3.40% of the company’s stock.

Ziff Davis Company 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.