AlphaCore Capital LLC Makes New Investment in Ziff Davis, Inc. $ZD

Key Points

• AlphaCore Capital initiated a position in Ziff Davis, buying 332,149 shares worth about $18.83 million, or 0.97% of the company. Institutional investors and hedge funds collectively owned 99.76% of shares.
• Ziff Davis reported quarterly EPS of $1.39, topping the $1.20 consensus estimate, while revenue of $289.33 million fell short of forecasts and declined 20.5% year over year.
• Analysts’ average rating was Hold, with an average price target of $60.67; four analysts rated the stock Buy and six rated it Hold.

AlphaCore Capital LLC bought a new position in Ziff Davis, Inc. (NASDAQ:ZD - Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 332,149 shares of the technology company's stock, valued at approximately $18,830,000. AlphaCore Capital LLC owned 0.97% of Ziff Davis at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Fulcrum Asset Management LLP grew its stake in shares of Ziff Davis by 226.8% in the 3rd quarter. Fulcrum Asset Management LLP now owns 8,124 shares of the technology company's stock valued at $458,000 after purchasing an additional 5,638 shares during the period. Ethic Inc. bought a new stake in Ziff Davis in the third quarter valued at $451,000. ACR Alpine Capital Research LLC grew its position in Ziff Davis by 7.8% in the third quarter. ACR Alpine Capital Research LLC now owns 93,317 shares of the technology company's stock valued at $5,290,000 after acquiring an additional 6,791 shares during the period. State of Wyoming raised its stake in Ziff Davis by 47.9% during the third quarter. State of Wyoming now owns 5,247 shares of the technology company's stock worth $297,000 after acquiring an additional 1,699 shares in the last quarter. Finally, Signaturefd LLC raised its stake in Ziff Davis by 194.6% during the third quarter. Signaturefd LLC now owns 2,507 shares of the technology company's stock worth $142,000 after acquiring an additional 1,656 shares in the last quarter. Institutional investors and hedge funds own 99.76% of the company's stock.

Ziff Davis Stock Up 1.9%

NASDAQ ZD opened at $50.56 on Tuesday. The stock has a market capitalization of $1.73 billion, a P/E ratio of 2.99 and a beta of 1.10. Ziff Davis, Inc. has a 52 week low of $22.45 and a 52 week high of $60.48. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.16 and a current ratio of 2.16. The stock has a fifty day moving average of $56.18 and a 200-day moving average of $47.76.

Ziff Davis (NASDAQ:ZD - Get Free Report) last issued its quarterly earnings results on Thursday, November 5th. The technology company reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.19. The business had revenue of $289.33 million for the quarter, compared to analyst estimates of $295.31 million. Ziff Davis had a return on equity of 10.73% and a net margin of 48.57%. The firm's revenue for the quarter was down 20.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.76 earnings per share. On average, equities research analysts forecast that Ziff Davis, Inc. will post 4.41 EPS for the current year.

Insider Buying and Selling at Ziff Davis

In other news, Director W. Brian Kretzmer sold 2,513 shares of the firm's stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $55.31, for a total value of $138,994.03. Following the transaction, the director directly owned 20,000 shares in the company, valued at $1,106,200. This trade represents a 11.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Lori Tansley sold 1,400 shares of the business's stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $54.76, for a total value of $76,664.00. Following the transaction, the chief accounting officer owned 767 shares of the company's stock, valued at $42,000.92. The trade was a 64.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 3.40% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

ZD has been the topic of several recent analyst reports. Weiss Ratings upgraded shares of Ziff Davis from a "hold (c)" rating to a "hold (c+)" rating in a research note on Tuesday, August 25th. Yorkville Ives began coverage on shares of Ziff Davis in a research report on Wednesday, October 7th. They set an "outperform" rating and a $68.00 target price for the company. Evercore reissued an "outperform" rating and set a $64.00 price target on shares of Ziff Davis in a report on Monday, August 10th. Zacks Research upgraded shares of Ziff Davis to a "hold" rating in a research report on Tuesday, September 15th. Finally, JPMorgan Chase & Co. began coverage on shares of Ziff Davis in a research report on Friday, September 11th. They issued a "neutral" rating and a $60.00 price target on the stock. Four investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $60.67.

Ziff Davis Profile

Ziff Davis, Inc is a digital media and internet company that operates a portfolio of websites, apps and online services. Its brands cover technology and shopping, gaming and entertainment, health and wellness, connectivity, and cybersecurity and marketing technology. They include PCMag, IGN, Mashable, Everyday Health and Ookla, whose services include Speedtest and Downdetector.

The company serves consumers and businesses in the United States and international markets. Its activities include publishing editorial content, providing internet and software services, and offering digital advertising and marketing solutions.

Ziff Davis traces its origins to a magazine publisher founded in 1927 and has since evolved into a digital-focused business.

Want to see what other hedge funds are holding ZD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ziff Davis, Inc. (NASDAQ:ZD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.