Invenomic Capital Management LP Increases Stock Holdings in Ziff Davis, Inc. $ZD

Key Points

• Invenomic Capital Management LP has increased its stake in Ziff Davis, Inc. by 32%, now owning approximately 169,062 shares valued at $6.35 million.
• Multiple institutional investors, including GAMMA Investing LLC and PNC Financial Services, have also significantly increased their holdings in Ziff Davis, leading to 99.76% of the company being owned by institutional investors.
• Ziff Davis recently reported a 10% increase in revenue year-over-year, with an earnings per share (EPS) of $1.24, surpassing analysts' expectations.

Invenomic Capital Management LP increased its holdings in shares of Ziff Davis, Inc. (NASDAQ:ZD - Free Report) by 32.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 169,062 shares of the technology company's stock after buying an additional 40,942 shares during the period. Invenomic Capital Management LP owned about 0.40% of Ziff Davis worth $6,353,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Janney Montgomery Scott LLC purchased a new position in shares of Ziff Davis during the 1st quarter valued at approximately $736,000. GAMMA Investing LLC lifted its position in shares of Ziff Davis by 148.4% during the 1st quarter. GAMMA Investing LLC now owns 713 shares of the technology company's stock valued at $27,000 after buying an additional 426 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Ziff Davis by 2.6% during the 1st quarter. Principal Financial Group Inc. now owns 212,797 shares of the technology company's stock valued at $7,997,000 after buying an additional 5,456 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in Ziff Davis by 75.7% in the 1st quarter. PNC Financial Services Group Inc. now owns 6,139 shares of the technology company's stock valued at $231,000 after purchasing an additional 2,645 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted its holdings in Ziff Davis by 13.0% in the 1st quarter. Envestnet Asset Management Inc. now owns 13,450 shares of the technology company's stock valued at $505,000 after purchasing an additional 1,552 shares in the last quarter. Hedge funds and other institutional investors own 99.76% of the company's stock.

Analysts Set New Price Targets

ZD has been the subject of a number of research reports. Wall Street Zen raised shares of Ziff Davis from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Piper Sandler set a $40.00 target price on shares of Ziff Davis in a report on Friday, August 8th. UBS Group set a $40.00 target price on shares of Ziff Davis and gave the stock a "neutral" rating in a report on Wednesday, May 14th. Barclays reaffirmed a "positive" rating on shares of Ziff Davis in a report on Friday, August 8th. Finally, Susquehanna dropped their target price on shares of Ziff Davis from $80.00 to $45.00 and set a "positive" rating for the company in a report on Monday, May 12th. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $38.83.

Ziff Davis Trading Up 2.0%

Shares of ZD traded up $0.73 during midday trading on Friday, reaching $38.09. The company had a trading volume of 383,905 shares, compared to its average volume of 464,762. The stock has a market cap of $1.56 billion, a PE ratio of 25.39 and a beta of 1.58. 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 firm has a 50 day simple moving average of $34.05 and a 200-day simple moving average of $34.55.

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