Ewing Morris & Co. Investment Partners Ltd. Sells 5,838,000 Shares of Ziff Davis, Inc. (NASDAQ:ZD)

Ewing Morris & Co. Investment Partners Ltd. trimmed its stake in shares of Ziff Davis, Inc. (NASDAQ:ZD - Free Report) by 99.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 39,136 shares of the technology company's stock after selling 5,838,000 shares during the period. Ewing Morris & Co. Investment Partners Ltd. owned about 0.09% of Ziff Davis worth $2,127,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of ZD. Millstone Evans Group LLC acquired a new position in shares of Ziff Davis during the 4th quarter valued at about $35,000. Quadrant Capital Group LLC increased its holdings in shares of Ziff Davis by 278.9% during the 4th quarter. Quadrant Capital Group LLC now owns 663 shares of the technology company's stock valued at $36,000 after acquiring an additional 488 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Ziff Davis during the 3rd quarter valued at about $37,000. Summit Securities Group LLC acquired a new position in shares of Ziff Davis during the 4th quarter valued at about $37,000. Finally, First Horizon Advisors Inc. increased its holdings in shares of Ziff Davis by 42.9% during the 4th quarter. First Horizon Advisors Inc. now owns 866 shares of the technology company's stock valued at $47,000 after acquiring an additional 260 shares during the last quarter. 99.76% of the stock is owned by hedge funds and other institutional investors.

Ziff Davis Trading Down 4.5%

Shares of Ziff Davis stock traded down $1.47 during trading on Friday, hitting $30.91. 1,118,302 shares of the company were exchanged, compared to its average volume of 515,498. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.42 and a quick ratio of 1.42. The firm's fifty day moving average price is $35.26 and its 200 day moving average price is $47.13. Ziff Davis, Inc. has a 1-year low of $29.15 and a 1-year high of $60.62. The firm has a market capitalization of $1.33 billion, a P/E ratio of 26.20 and a beta of 1.57.

Insider Activity at Ziff Davis

In other Ziff Davis news, CFO Bret Richter purchased 2,500 shares of the company's stock in a transaction that occurred on Wednesday, March 5th. The shares were acquired at an average price of $39.21 per share, for a total transaction of $98,025.00. Following the purchase, the chief financial officer now owns 16,339 shares in the company, valued at approximately $640,652.19. The trade was a 18.06% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Sarah Ann Fay purchased 1,282 shares of the company's stock in a transaction that occurred on Tuesday, March 4th. The stock was acquired at an average price of $39.00 per share, for a total transaction of $49,998.00. Following the purchase, the director now owns 18,655 shares in the company, valued at $727,545. This trade represents a 7.38% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders acquired 5,028 shares of company stock worth $198,024. 2.16% of the stock is owned by company insiders.

Analyst Ratings Changes

ZD has been the topic of a number of research analyst reports. JPMorgan Chase & Co. lowered Ziff Davis from an "overweight" rating to a "neutral" rating and lowered their target price for the company from $60.00 to $33.00 in a report on Tuesday, April 22nd. Citigroup lowered their target price on Ziff Davis from $52.00 to $35.00 and set a "neutral" rating on the stock in a report on Friday, April 25th. Finally, UBS Group lowered their target price on Ziff Davis from $65.00 to $56.00 and set a "neutral" rating on the stock in a report on Wednesday, February 26th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $56.00.

Ziff Davis Profile

Ziff Davis, Inc, together with its subsidiaries, operates as a digital media and internet company in the United States and internationally. The company offers PCMag, an online resource for laboratory-based product reviews, technology news, buying guides, and research papers; Mashable for publishing technology and culture content; Spiceworks Ziff Davis provides digital content of IT products and services; retailMeNot, a savings destination platform; Offers.com, a coupon and deals website; and event-based properties, including BlackFriday.com, TheBlackFriday.com, BestBlackFriday.com, and DealsofAmerica.com.