Allspring Global Investments Holdings LLC Boosts Stake in Ziff Davis, Inc. $ZD

Key Points

• Allspring Global Investments Holdings LLC increased its ownership in Ziff Davis, raising its stake by 16.4% during the second quarter, now holding 626,137 shares valued at approximately $19.9 million.
• Multiple institutional investors are increasing their positions in Ziff Davis, highlighting significant interest in the company, with 99.76% of the stock now owned by hedge funds and other institutions.
• Ziff Davis reported a quarterly EPS of $1.24, surpassing analyst expectations of $1.22, with a year-over-year revenue increase of 10%, totaling $352.21 million.

Allspring Global Investments Holdings LLC lifted its stake in Ziff Davis, Inc. (NASDAQ:ZD - Free Report) by 16.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 626,137 shares of the technology company's stock after purchasing an additional 88,014 shares during the period. Allspring Global Investments Holdings LLC owned 1.49% of Ziff Davis worth $19,911,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. GAMMA Investing LLC boosted its stake in Ziff Davis by 148.4% during the first quarter. GAMMA Investing LLC now owns 713 shares of the technology company's stock worth $27,000 after acquiring an additional 426 shares in the last quarter. Hsbc Holdings PLC boosted its stake in Ziff Davis by 6.7% during the first quarter. Hsbc Holdings PLC now owns 7,447 shares of the technology company's stock worth $279,000 after acquiring an additional 468 shares in the last quarter. Legato Capital Management LLC boosted its stake in Ziff Davis by 3.4% during the first quarter. Legato Capital Management LLC now owns 19,649 shares of the technology company's stock worth $738,000 after acquiring an additional 644 shares in the last quarter. State of Wyoming bought a new stake in Ziff Davis during the first quarter worth about $39,000. Finally, TD Private Client Wealth LLC bought a new stake in Ziff Davis during the second quarter worth about $37,000. 99.76% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Ziff Davis

In related news, Director Sarah Ann Fay purchased 1,354 shares of Ziff Davis stock in a transaction dated Monday, September 15th. The stock was purchased at an average cost of $36.89 per share, for a total transaction of $49,949.06. Following the completion of the purchase, the director directly owned 23,619 shares of the company's stock, valued at $871,304.91. The trade was a 6.08% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 2.16% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on ZD shares. Barclays reissued a "positive" rating on shares of Ziff Davis in a research note on Friday, August 8th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Ziff Davis in a report on Wednesday, October 8th. Wall Street Zen raised shares of Ziff Davis from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Finally, Piper Sandler set a $40.00 target price on shares of Ziff Davis in a report on Friday, August 8th. Two equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $38.83.

Ziff Davis Stock Performance

Shares of ZD stock opened at $36.46 on Friday. The company has a 50 day moving average price of $37.40 and a 200-day moving average price of $33.91. Ziff Davis, Inc. has a 52 week low of $28.55 and a 52 week high of $60.62. The firm has a market capitalization of $1.49 billion, a PE ratio of 24.31 and a beta of 1.60. The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 0.47.

Ziff Davis (NASDAQ:ZD - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The technology company reported $1.24 EPS for the quarter, topping analysts' consensus estimates of $1.22 by $0.02. Ziff Davis had a net margin of 4.57% and a return on equity of 13.91%. The firm had revenue of $352.21 million during the quarter, compared to analyst estimates of $337.47 million. During the same period in the previous year, the business posted $1.18 earnings per share. The business's revenue for the quarter was up 10.0% on a year-over-year basis. As a group, equities research analysts expect that Ziff Davis, Inc. will post 5.93 earnings per share for the current year.

About Ziff Davis

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.

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