Ziff Davis (NASDAQ:ZD) Reaches New 12-Month High – Here’s Why
by Mitch Edgeman · The Markets DailyShares of Ziff Davis, Inc. (NASDAQ:ZD – Get Free Report) hit a new 52-week high on Monday . The stock traded as high as $54.95 and last traded at $54.6790, with a volume of 146018 shares trading hands. The stock had previously closed at $53.98.
Wall Street Analysts Forecast Growth
ZD has been the topic of a number of recent analyst reports. Evercore reaffirmed an “outperform” rating and issued a $61.00 price objective on shares of Ziff Davis in a research note on Tuesday, May 12th. Barclays boosted their price target 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. Susquehanna lifted their target price on shares of Ziff Davis from $45.00 to $60.00 and gave the stock a “positive” rating in a research note on Tuesday, May 5th. Piper Sandler set a $48.00 target price on shares of Ziff Davis in a report on Monday, May 11th. Finally, Weiss Ratings upgraded Ziff Davis from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, June 1st. Three equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $47.25.
Read Our Latest Stock Analysis on ZD
Ziff Davis Stock Up 1.4%
The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.66 and a current ratio of 1.66. The firm’s 50 day moving average price is $47.13 and its two-hundred day moving average price is $41.88. The company has a market cap of $2.02 billion, a P/E ratio of 48.53 and a beta of 1.08.
Ziff Davis (NASDAQ:ZD – Get Free Report) last issued its earnings results on Thursday, May 7th. The technology company reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.01. Ziff Davis had a net margin of 3.26% and a return on equity of 12.17%. The business had revenue of $267.64 million for the quarter, compared to analyst estimates of $264.32 million. During the same period in the prior year, the firm earned $1.14 earnings per share. Ziff Davis’s revenue was down 1.9% on a year-over-year basis.
Insider Activity
In related news, Director Kirk P. Mcdonald sold 1,075 shares of the business’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $46.65, for a total value of $50,148.75. Following the completion of the sale, the director directly owned 13,468 shares of the company’s stock, valued at $628,282.20. The trade was a 7.39% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Jeremy Rossen sold 8,000 shares of the stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $47.00, for a total value of $376,000.00. Following the completion of the transaction, the executive vice president owned 14,462 shares in the company, valued at approximately $679,714. The trade was a 35.62% decrease in their position. 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 in the last three months. Company insiders own 3.40% of the company’s stock.
Institutional Investors Weigh In On Ziff Davis
A number of institutional investors and hedge funds have recently made changes to their positions in ZD. Wedge Capital Management L L P NC lifted its position in Ziff Davis by 18.6% in the 2nd quarter. Wedge Capital Management L L P NC now owns 68,887 shares of the technology company’s stock valued at $3,608,000 after acquiring an additional 10,828 shares in the last quarter. Hennion & Walsh Asset Management Inc. raised its stake in shares of Ziff Davis by 71.7% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 8,334 shares of the technology company’s stock worth $436,000 after purchasing an additional 3,479 shares during the last quarter. Affinity Capital Advisors LLC bought a new position in shares of Ziff Davis in the second quarter valued at approximately $230,000. Pacer Advisors Inc. lifted its holdings in shares of Ziff Davis by 0.3% in the first quarter. Pacer Advisors Inc. now owns 288,785 shares of the technology company’s stock valued at $12,117,000 after purchasing an additional 921 shares in the last quarter. Finally, Edgestream Partners L.P. purchased a new position in shares of Ziff Davis during the first quarter valued at approximately $3,489,000. Institutional investors and hedge funds own 99.76% 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.