Ziff Davis, Inc. $ZD Shares Bought by CastleKnight Management LP

CastleKnight Management LP raised its position in Ziff Davis, Inc. (NASDAQ:ZD) by 25.7% in the 4th quarter, Holdings Channel reports. The fund owned 318,603 shares of the technology company’s stock after acquiring an additional 65,103 shares during the period. CastleKnight Management LP’s holdings in Ziff Davis were worth $11,199,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in ZD. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake 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 worth $6,037,000 after acquiring an additional 3,696 shares during the period. Invesco Ltd. lifted its stake in shares of Ziff Davis by 1.3% in the 2nd quarter. Invesco Ltd. now owns 188,595 shares of the technology company’s stock worth $5,709,000 after acquiring an additional 2,347 shares during the period. First Trust Advisors LP lifted its stake 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 acquiring an additional 31,765 shares during the period. Jump Financial LLC acquired a new stake in shares of Ziff Davis in the 2nd quarter worth $927,000. Finally, Cerity Partners LLC acquired a new stake in shares of Ziff Davis in the 2nd quarter worth $380,000. Institutional investors and hedge funds own 99.76% of the company’s stock.

Insider Transactions at Ziff Davis

In other news, CFO Bret Richter sold 18,000 shares of Ziff Davis stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $46.88, for a total transaction of $843,840.00. Following the completion of the sale, the chief financial officer directly owned 29,244 shares in the company, valued at $1,370,958.72. The trade was a 38.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Kirk P. Mcdonald sold 1,075 shares of Ziff Davis stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $46.65, for a total transaction of $50,148.75. Following the sale, the director owned 13,468 shares of the company’s stock, valued at approximately $628,282.20. This trade represents a 7.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 31,422 shares of company stock worth $1,468,864 over the last ninety days. 3.40% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts recently commented on the stock. Evercore reiterated an “outperform” rating and issued a $61.00 price objective on shares of Ziff Davis in a research note on Tuesday, May 12th. Barclays raised their price objective on shares of Ziff Davis from $45.00 to $48.00 and gave the company an “equal weight” rating in a research note on Monday, May 11th. UBS Group reduced their price objective on shares of Ziff Davis from $38.00 to $30.00 and set a “neutral” rating for the company in a research note on Wednesday, February 25th. Weiss Ratings upgraded shares of Ziff Davis from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, June 1st. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Ziff Davis from $40.00 to $35.00 and set a “neutral” rating for the company in a research note on Wednesday, February 25th. Three equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $47.25.

Ziff Davis Stock Performance

Shares of NASDAQ ZD opened at $44.32 on Thursday. The company has a market cap of $1.63 billion, a PE ratio of 39.22 and a beta of 1.12. Ziff Davis, Inc. has a 12 month low of $22.45 and a 12 month high of $50.55. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.66 and a quick ratio of 1.66. The company has a 50-day simple moving average of $44.79 and a 200-day simple moving average of $39.46.

Ziff Davis (NASDAQ:ZD) last issued its quarterly earnings results on Thursday, May 7th. The technology company reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.01. The business had revenue of $267.64 million during the quarter, compared to the consensus estimate of $264.32 million. Ziff Davis had a net margin of 3.26% and a return on equity of 12.17%. The company’s quarterly revenue was down 1.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.14 earnings per share. On average, equities analysts anticipate that Ziff Davis, Inc. will post 4.08 earnings per share for the current year.

About Ziff Davis

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.