First Trust Advisors LP Raises Position in Ziff Davis, Inc. $ZD

Key Points

• First Trust Advisors increased its Ziff Davis stake by 689.6% in the first quarter, owning 974,591 shares worth approximately $40.9 million, or 2.65% of the company. Institutional investors collectively own 99.76% of Ziff Davis.
• Ziff Davis reported quarterly EPS of $0.73, slightly above estimates, while revenue of $267.64 million also topped expectations; however, revenue declined 1.9% year over year. Shares opened at $52.36, near their 52-week high of $54.97.
• Analyst views remain mixed, with three Buy, five Hold and one Sell rating, producing a consensus Hold rating and an average price target of $47.25. Company insiders sold 31,422 shares worth about $1.47 million during the latest quarter.

First Trust Advisors LP grew its position in shares of Ziff Davis, Inc. (NASDAQ:ZD - Free Report) by 689.6% during the first quarter, according to its most recent filing with the SEC. The firm owned 974,591 shares of the technology company's stock after acquiring an additional 851,163 shares during the period. First Trust Advisors LP owned about 2.65% of Ziff Davis worth $40,894,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Federated Hermes Inc. bought a new stake in shares of Ziff Davis during the fourth quarter valued at approximately $25,000. Hantz Financial Services Inc. lifted its position in Ziff Davis by 212.2% during the fourth quarter. Hantz Financial Services Inc. now owns 868 shares of the technology company's stock valued at $31,000 after buying an additional 590 shares during the period. NBC Securities Inc. boosted its holdings in shares of Ziff Davis by 121.2% during the 4th quarter. NBC Securities Inc. now owns 885 shares of the technology company's stock valued at $31,000 after buying an additional 485 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Ziff Davis by 207.1% in the 4th quarter. GAMMA Investing LLC now owns 906 shares of the technology company's stock worth $32,000 after buying an additional 611 shares during the period. Finally, Rockefeller Capital Management L.P. increased its stake in shares of Ziff Davis by 226.7% in the 4th quarter. Rockefeller Capital Management L.P. now owns 990 shares of the technology company's stock worth $35,000 after acquiring an additional 687 shares in the last quarter. Institutional investors own 99.76% of the company's stock.

Ziff Davis Stock Up 1.5%

Shares of Ziff Davis stock opened at $52.36 on Tuesday. The company has a 50-day simple moving average of $48.51 and a two-hundred day simple moving average of $42.64. The stock has a market capitalization of $1.93 billion, a PE ratio of 46.34 and a beta of 1.08. Ziff Davis, Inc. has a 52-week low of $22.45 and a 52-week high of $54.97. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.66 and a current ratio of 1.66.

Ziff Davis (NASDAQ:ZD - Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The technology company reported $0.73 EPS for the quarter, beating analysts' consensus estimates of $0.72 by $0.01. Ziff Davis had a net margin of 3.26% and a return on equity of 12.17%. The firm had revenue of $267.64 million for the quarter, compared to analysts' expectations of $264.32 million. During the same quarter in the prior year, the company posted $1.14 earnings per share. The business's revenue for the quarter was down 1.9% on a year-over-year basis.

Insider Transactions at Ziff Davis

In related news, Director Kirk P. Mcdonald sold 1,075 shares of Ziff Davis stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $46.65, for a total value of $50,148.75. Following the completion of the sale, the director directly owned 13,468 shares in the company, valued at approximately $628,282.20. This trade represents a 7.39% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Bret Richter sold 18,000 shares of the company's stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $46.88, for a total transaction of $843,840.00. Following the transaction, the chief financial officer owned 29,244 shares in the company, valued at $1,370,958.72. This represents a 38.10% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 31,422 shares of company stock worth $1,468,864 over the last quarter. 3.40% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ZD. Weiss Ratings raised shares of Ziff Davis from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Monday, June 1st. Susquehanna lifted their target price on shares of Ziff Davis from $45.00 to $60.00 and gave the company a "positive" rating in a report on Tuesday, May 5th. Zacks Research cut Ziff Davis from a "hold" rating to a "strong sell" rating in a research report on Wednesday, May 6th. Royal Bank Of Canada upped their price target on Ziff Davis from $40.00 to $48.00 and gave the stock an "outperform" rating in a research note on Monday, May 11th. Finally, Evercore reaffirmed an "outperform" rating and set a $61.00 price objective on shares of Ziff Davis in a research report on Tuesday, May 12th. Three equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $47.25.

Ziff Davis 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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