Short Interest in Zedge, Inc. (NYSEAMERICAN:ZDGE) Grows By 20.6%
by Jessica Moore · The Cerbat GemZedge, Inc. (NYSEAMERICAN:ZDGE – Get Free Report) saw a large increase in short interest in the month of March. As of March 31st, there was short interest totaling 162,214 shares, an increase of 20.6% from the March 15th total of 134,486 shares. Based on an average daily volume of 86,019 shares, the days-to-cover ratio is currently 1.9 days. Currently, 1.7% of the company’s stock are short sold.
Institutional Investors Weigh In On Zedge
Several institutional investors have recently made changes to their positions in ZDGE. Squarepoint Ops LLC acquired a new stake in shares of Zedge during the 3rd quarter valued at about $37,000. Raymond James Financial Inc. acquired a new stake in shares of Zedge during the 2nd quarter valued at about $40,000. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Zedge during the 3rd quarter valued at about $87,000. Bailard Inc. lifted its holdings in shares of Zedge by 238.5% during the 3rd quarter. Bailard Inc. now owns 39,763 shares of the company’s stock valued at $116,000 after buying an additional 28,016 shares during the last quarter. Finally, Welch Group LLC lifted its holdings in shares of Zedge by 274.9% during the 3rd quarter. Welch Group LLC now owns 45,671 shares of the company’s stock valued at $133,000 after buying an additional 33,488 shares during the last quarter. 29.37% of the stock is currently owned by institutional investors and hedge funds.
Zedge Stock Performance
Shares of NYSEAMERICAN ZDGE traded down $0.07 during mid-day trading on Friday, reaching $3.07. The company had a trading volume of 99,162 shares, compared to its average volume of 68,263. Zedge has a twelve month low of $1.97 and a twelve month high of $4.89. The stock has a market capitalization of $38.44 million, a PE ratio of -20.47 and a beta of 1.32. The stock’s 50 day moving average is $3.05 and its 200-day moving average is $3.05.
Zedge Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Monday, April 6th were paid a dividend of $0.02 per share. This is a boost from Zedge’s previous quarterly dividend of $0.02. The ex-dividend date of this dividend was Monday, April 6th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 2.6%. Zedge’s dividend payout ratio (DPR) is -8.96%.
About Zedge
Zedge, Inc (NYSE American: ZDGE) is a digital media and technology company that operates a mobile personalization platform. Through its flagship Zedge app and website, the company provides consumers with a wide range of downloadable digital content, including wallpapers, ringtones, notification sounds, app icons and lock screens. The platform accommodates both free and premium content, enabling users to customize their smartphones and tablets according to personal taste.
The company’s platform features content created by independent designers and established media brands, and it supports multiple languages and regional preferences.