Connor Clark & Lunn Investment Management Ltd. Buys New Holdings in Ziff Davis, Inc. $ZD

Key Points

• Connor Clark & Lunn Investment Management Ltd. acquired 33,951 shares of Ziff Davis, Inc., valued at approximately $1,276,000, representing a 0.08% ownership stake as of their latest SEC filing.
• Ziff Davis reported a 10% year-over-year revenue increase to $352.21 million for the last quarter, surpassing analysts' expectations.
• A mixed response from analysts includes a downgrade from JPMorgan Chase & Co. to "neutral" with a price target reduction to $33.00, while Barclays maintains a "positive" rating.

Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Ziff Davis, Inc. (NASDAQ:ZD - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 33,951 shares of the technology company's stock, valued at approximately $1,276,000. Connor Clark & Lunn Investment Management Ltd. owned about 0.08% of Ziff Davis as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Janus Henderson Group PLC increased its position in Ziff Davis by 8.5% during the fourth quarter. Janus Henderson Group PLC now owns 3,487,495 shares of the technology company's stock worth $189,512,000 after buying an additional 272,895 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in Ziff Davis by 50.8% during the first quarter. Allspring Global Investments Holdings LLC now owns 538,123 shares of the technology company's stock worth $20,314,000 after buying an additional 181,234 shares in the last quarter. Victory Capital Management Inc. increased its position in Ziff Davis by 236.8% during the first quarter. Victory Capital Management Inc. now owns 171,833 shares of the technology company's stock worth $6,457,000 after buying an additional 120,817 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Ziff Davis by 5.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,412,780 shares of the technology company's stock worth $131,112,000 after buying an additional 118,979 shares in the last quarter. Finally, Wellington Management Group LLP increased its position in Ziff Davis by 34.2% during the fourth quarter. Wellington Management Group LLP now owns 443,707 shares of the technology company's stock worth $24,111,000 after buying an additional 113,157 shares in the last quarter. 99.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ZD has been the subject of several recent research reports. Wall Street Zen raised Ziff Davis from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Susquehanna dropped their price target on Ziff Davis from $80.00 to $45.00 and set a "positive" rating for the company in a research report on Monday, May 12th. Citigroup dropped their price target on Ziff Davis from $52.00 to $35.00 and set a "neutral" rating for the company in a research report on Friday, April 25th. UBS Group set a $40.00 price objective on Ziff Davis and gave the company a "neutral" rating in a research report on Wednesday, May 14th. Finally, Barclays reaffirmed a "positive" rating on shares of Ziff Davis in a research report on Friday, August 8th. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $46.86.

Ziff Davis Trading Up 1.0%

Shares of NASDAQ:ZD traded up $0.37 during midday trading on Thursday, reaching $36.25. The company's stock had a trading volume of 540,305 shares, compared to its average volume of 667,061. The firm has a market cap of $1.49 billion, a price-to-earnings ratio of 24.17 and a beta of 1.63. 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, Inc. has a 1 year low of $28.55 and a 1 year high of $60.62. The business has a 50 day moving average price of $32.63 and a 200 day moving average price of $35.93.

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

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.