Empowered Funds LLC Cuts Stock Position in Ziff Davis, Inc. $ZD

Key Points

• Empowered Funds LLC reduced its Ziff Davis stake by 25.6% in the first quarter, selling 53,705 shares and retaining 155,824 shares worth approximately $6.5 million. Institutional investors and hedge funds collectively own 99.76% of the company.
• Analyst sentiment remains mixed, with three Buy, five Hold, and one Sell rating. Several firms raised their price targets, while Ziff Davis has an average rating of “Hold” and an average target of $56.62.
• Ziff Davis beat quarterly EPS estimates, reporting $1.03 versus the expected $0.81, although revenue fell 18.7% year over year to $286.74 million. The stock opened at $55.38 and remains near its 52-week high of $58.06.

Empowered Funds LLC trimmed its position in Ziff Davis, Inc. (NASDAQ:ZD - Free Report) by 25.6% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 155,824 shares of the technology company's stock after selling 53,705 shares during the period. Empowered Funds LLC owned approximately 0.42% of Ziff Davis worth $6,538,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Federated Hermes Inc. acquired a new position in shares of Ziff Davis during the fourth quarter worth about $25,000. Hantz Financial Services Inc. lifted its position in Ziff Davis by 212.2% in the fourth quarter. Hantz Financial Services Inc. now owns 868 shares of the technology company's stock valued at $31,000 after purchasing an additional 590 shares during the period. NBC Securities Inc. boosted its holdings in Ziff Davis by 121.2% in the 4th quarter. NBC Securities Inc. now owns 885 shares of the technology company's stock valued at $31,000 after purchasing an additional 485 shares in the last quarter. Rockefeller Capital Management L.P. increased its position in 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 purchasing an additional 687 shares during the period. Finally, TD Private Client Wealth LLC purchased a new position in shares of Ziff Davis during the 4th quarter worth approximately $52,000. 99.76% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ZD has been the topic of several research analyst reports. Royal Bank Of Canada boosted their target price on shares of Ziff Davis from $48.00 to $65.00 and gave the stock an "outperform" rating in a research report on Monday, August 10th. Piper Sandler set a $48.00 price target on shares of Ziff Davis in a report on Monday, May 11th. Barclays raised their price objective on shares of Ziff Davis from $45.00 to $48.00 and gave the company an "equal weight" rating in a research note on Monday, May 11th. Evercore reissued an "outperform" rating and set a $64.00 price objective on shares of Ziff Davis in a report on Monday, August 10th. Finally, Citigroup upped their target price on shares of Ziff Davis from $48.00 to $59.00 and gave the stock a "neutral" rating in a research report on Monday, August 10th. Three investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Ziff Davis currently has an average rating of "Hold" and an average price target of $56.62.

Insider Activity at Ziff Davis

In other Ziff Davis news, CFO Bret Richter sold 18,000 shares of the business's stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $46.88, for a total transaction of $843,840.00. Following the completion of the sale, the chief financial officer owned 29,244 shares of the company's stock, valued at approximately $1,370,958.72. The trade was a 38.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Lori A. Tansley sold 1,400 shares of the company'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 sale, the chief accounting officer owned 767 shares of the company's stock, valued at $42,000.92. This represents a 64.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 36,641 shares of company stock valued at $1,755,306 over the last quarter. 3.40% of the stock is currently owned by corporate insiders.

Ziff Davis Price Performance

ZD opened at $55.38 on Friday. The company's 50 day simple moving average is $51.11 and its 200 day simple moving average is $44.23. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.66 and a current ratio of 2.16. Ziff Davis, Inc. has a 1 year low of $22.45 and a 1 year high of $58.06. The stock has a market capitalization of $1.90 billion, a PE ratio of 3.13 and a beta of 1.08.

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

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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