535,787 Shares in Zeta Global Holdings Corp. $ZETA Bought by Armistice Capital LLC

Key Points

• Armistice Capital LLC acquired 535,787 shares of Zeta Global Holdings Corp., valued at approximately $7.27 million, marking a new position for the firm in the first quarter of the year.
• Zeta Global's stock saw a price increase forecast from several research firms, with Morgan Stanley setting a target of $20, while Bank of America raised theirs to $24, reflecting growing optimism around the company.
• As of the latest filing, about 87.75% of Zeta Global's stock is owned by institutional investors, indicating strong support from hedge funds and investment firms.

Armistice Capital LLC bought a new position in Zeta Global Holdings Corp. (NYSE:ZETA - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 535,787 shares of the company's stock, valued at approximately $7,265,000. Armistice Capital LLC owned approximately 0.23% of Zeta Global as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in ZETA. Point72 Hong Kong Ltd bought a new position in shares of Zeta Global during the fourth quarter valued at about $33,000. Bartlett & CO. Wealth Management LLC bought a new position in Zeta Global in the first quarter worth about $27,000. Quarry LP raised its stake in Zeta Global by 963.9% in the first quarter. Quarry LP now owns 2,181 shares of the company's stock worth $30,000 after buying an additional 1,976 shares in the last quarter. Banque Cantonale Vaudoise bought a new position in Zeta Global in the first quarter worth about $32,000. Finally, Heck Capital Advisors LLC bought a new position in Zeta Global in the fourth quarter worth about $66,000. 87.75% of the stock is owned by institutional investors.

Zeta Global Price Performance

Shares of ZETA opened at $19.60 on Friday. The stock has a market cap of $4.67 billion, a PE ratio of -103.17 and a beta of 1.28. The company has a debt-to-equity ratio of 0.29, a quick ratio of 3.25 and a current ratio of 3.25. Zeta Global Holdings Corp. has a fifty-two week low of $10.69 and a fifty-two week high of $38.20. The firm's 50-day simple moving average is $16.74 and its two-hundred day simple moving average is $15.25.

Analyst Ratings Changes

A number of research firms recently issued reports on ZETA. Morgan Stanley increased their price target on shares of Zeta Global from $15.00 to $20.00 and gave the stock an "equal weight" rating in a research note on Wednesday, August 6th. The Goldman Sachs Group increased their price target on shares of Zeta Global from $16.00 to $18.00 and gave the stock a "neutral" rating in a research note on Thursday, August 7th. Wall Street Zen raised shares of Zeta Global from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Bank of America increased their price target on shares of Zeta Global from $20.00 to $24.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. Finally, Zacks Research raised shares of Zeta Global from a "strong sell" rating to a "hold" rating in a research note on Wednesday. Eleven equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, Zeta Global has a consensus rating of "Moderate Buy" and an average price target of $30.14.

Zeta Global Profile

Zeta Global Holdings Corp. operates an omnichannel data-driven cloud platform that provides enterprises with consumer intelligence and marketing automation software in the United States and internationally. The company's Zeta Marketing Platform analyzes billions of structured and unstructured data points to predict consumer intent by leveraging sophisticated machine learning algorithms and the industry's opted-in data set for omnichannel marketing; and Consumer Data platform ingests, analyzes, and distills disparate data points to generate a single view of a consumer, encompassing identity, profile characteristics, behaviors, and purchase intent.

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