Corient Private Wealth LP Purchases Shares of 56,864 Ziff Davis, Inc. $ZD

Key Points

• Corient Private Wealth LP acquired 56,864 Ziff Davis shares in the second quarter, valued at approximately $2.98 million. Institutional investors collectively own 99.76% of the company.
• Ziff Davis reported quarterly EPS of $1.03, exceeding estimates of $0.81, while revenue of $286.74 million was largely in line with expectations but declined 18.7% year over year.
• Shares traded near $55.24, close to analysts’ consensus price target of $56.62. Analysts maintain a consensus “Hold” rating, while insiders have sold 34,807 shares worth about $1.70 million over the past three months.

Corient Private Wealth LP acquired a new position in shares of Ziff Davis, Inc. (NASDAQ:ZD - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 56,864 shares of the technology company's stock, valued at approximately $2,978,000. Corient Private Wealth LP owned 0.17% of Ziff Davis as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Federated Hermes Inc. purchased a new position in Ziff Davis in the fourth quarter valued at about $25,000. Hantz Financial Services Inc. boosted its position in shares of Ziff Davis by 212.2% in the fourth quarter. Hantz Financial Services Inc. now owns 868 shares of the technology company's stock worth $31,000 after buying an additional 590 shares during the period. Rockefeller Capital Management L.P. grew its stake in shares of Ziff Davis by 226.7% in the fourth quarter. Rockefeller Capital Management L.P. now owns 990 shares of the technology company's stock valued at $35,000 after buying an additional 687 shares in the last quarter. Allworth Financial LP acquired a new stake in shares of Ziff Davis in the second quarter valued at about $44,000. Finally, TD Private Client Wealth LLC purchased a new stake in shares of Ziff Davis during the 4th quarter valued at about $52,000. Hedge funds and other institutional investors own 99.76% of the company's stock.

Ziff Davis Trading Up 0.2%

Shares of ZD opened at $55.24 on Wednesday. Ziff Davis, Inc. has a one year low of $22.45 and a one year high of $58.06. The stock has a 50-day moving average price of $53.40 and a 200 day moving average price of $45.95. 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 company has a market capitalization of $1.89 billion, a P/E ratio of 3.13 and a beta of 1.09.

Ziff Davis (NASDAQ:ZD - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The technology company reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.22. Ziff Davis had a return on equity of 10.73% and a net margin of 48.57%.The company had revenue of $286.74 million for the quarter, compared to the consensus estimate of $286.10 million. During the same period in the previous year, the business earned $1.24 EPS. Ziff Davis's revenue for the quarter was down 18.7% compared to the same quarter last year.

Insider Buying and Selling at Ziff Davis

In other Ziff Davis news, CAO Lori A. Tansley sold 1,400 shares of the stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $54.76, for a total transaction of $76,664.00. Following the transaction, the chief accounting officer directly owned 767 shares in the company, valued at $42,000.92. This represents a 64.61% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director W Brian Kretzmer sold 2,513 shares of the stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $55.31, for a total transaction of $138,994.03. Following the transaction, the director owned 20,000 shares in the company, valued at $1,106,200. This trade represents a 11.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 34,807 shares of company stock valued at $1,695,424. Corporate insiders own 3.40% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Evercore reissued an "outperform" rating and set a $64.00 price target on shares of Ziff Davis in a research report on Monday, August 10th. Piper Sandler set a $48.00 price objective on shares of Ziff Davis in a research note on Monday, May 11th. Barclays boosted their target price on shares of Ziff Davis from $45.00 to $48.00 and gave the stock an "equal weight" rating in a research report on Monday, May 11th. Citigroup upped their target price on shares of Ziff Davis from $48.00 to $59.00 and gave the company a "neutral" rating in a research note on Monday, August 10th. Finally, Weiss Ratings raised shares of Ziff Davis from a "hold (c)" rating to a "hold (c+)" rating in a report on Tuesday, August 25th. Three analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, Ziff Davis presently has a consensus rating of "Hold" and a consensus price target of $56.62.

Ziff Davis Company Profile

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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