ACR Alpine Capital Research LLC Takes $3.05 Million Position in Ziff Davis, Inc. $ZD

Key Points

• ACR Alpine Capital Research initiated a new position in Ziff Davis during the first quarter, buying 72,680 shares worth about $3.05 million.
• Insiders have been selling shares: EVP Jeremy Rossen and Director Kirk P. McDonald both reduced their holdings, and insiders have sold 31,422 shares worth about $1.47 million over the last 90 days.
• Ziff Davis recently beat earnings and revenue expectations, reporting $0.73 EPS and $267.64 million in revenue, while analysts currently rate the stock Hold with an average target price of $47.25.

ACR Alpine Capital Research LLC acquired a new position in Ziff Davis, Inc. (NASDAQ:ZD - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 72,680 shares of the technology company's stock, valued at approximately $3,050,000. ACR Alpine Capital Research LLC owned about 0.19% of Ziff Davis at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. NBC Securities Inc. lifted its position in Ziff Davis by 121.2% during the fourth quarter. NBC Securities Inc. now owns 885 shares of the technology company's stock valued at $31,000 after purchasing an additional 485 shares during the last quarter. California State Teachers Retirement System increased its holdings in shares of Ziff Davis by 1.4% in the 2nd quarter. California State Teachers Retirement System now owns 41,167 shares of the technology company's stock worth $1,246,000 after buying an additional 550 shares during the last quarter. Hantz Financial Services Inc. raised its position in shares of Ziff Davis by 212.2% during the 4th quarter. Hantz Financial Services Inc. now owns 868 shares of the technology company's stock valued at $31,000 after buying an additional 590 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Ziff Davis by 207.1% during the 4th quarter. GAMMA Investing LLC now owns 906 shares of the technology company's stock worth $32,000 after acquiring an additional 611 shares during the last quarter. Finally, Rockefeller Capital Management L.P. lifted its holdings in shares of Ziff Davis by 226.7% during the 4th quarter. Rockefeller Capital Management L.P. now owns 990 shares of the technology company's stock worth $35,000 after acquiring an additional 687 shares during the last quarter. 99.76% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Ziff Davis news, EVP Jeremy Rossen sold 8,000 shares of the business's 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 sale, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Kirk P. Mcdonald sold 1,075 shares of the stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $46.65, for a total value of $50,148.75. Following the sale, the director directly owned 13,468 shares of the company's stock, valued at approximately $628,282.20. This trade represents a 7.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 31,422 shares of company stock valued at $1,468,864 in the last ninety days. Company insiders own 3.40% of the company's stock.

Analyst Ratings Changes

Several research analysts recently issued reports on ZD shares. Weiss Ratings upgraded shares of Ziff Davis from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Monday, June 1st. Susquehanna lifted their price target on 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 price objective on Ziff Davis in a report on Monday, May 11th. Royal Bank Of Canada upped their price objective on Ziff Davis from $40.00 to $48.00 and gave the stock an "outperform" rating in a report on Monday, May 11th. Finally, Zacks Research lowered Ziff Davis from a "hold" rating to a "strong sell" rating in a research report on Wednesday, May 6th. Three investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Ziff Davis currently has a consensus rating of "Hold" and an average target price of $47.25.

Ziff Davis Price Performance

Shares of Ziff Davis stock opened at $52.18 on Friday. Ziff Davis, Inc. has a 52-week low of $22.45 and a 52-week high of $54.75. The stock has a market capitalization of $1.92 billion, a price-to-earnings ratio of 46.18 and a beta of 1.08. The company has a fifty day moving average of $46.25 and a 200-day moving average of $41.23. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.66 and a current ratio of 1.66.

Ziff Davis (NASDAQ:ZD - Get Free Report) last issued its 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 company had revenue of $267.64 million for the quarter, compared to analysts' expectations of $264.32 million. Ziff Davis had a net margin of 3.26% and a return on equity of 12.17%. The firm's revenue was down 1.9% compared to the same quarter last year. During the same quarter last year, the company earned $1.14 EPS.

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.

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