Miller Value Partners LLC Buys New Holdings in Ziff Davis, Inc. $ZD

Miller Value Partners LLC purchased a new position in shares of Ziff Davis, Inc. (NASDAQ:ZD - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm purchased 50,602 shares of the technology company's stock, valued at approximately $2,650,000. Miller Value Partners LLC owned about 0.15% of Ziff Davis at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ZD. Federated Hermes Inc. bought a new position in shares of Ziff Davis in the fourth quarter worth approximately $25,000. NBC Securities Inc. raised its holdings in 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 during the last quarter. Hantz Financial Services Inc. boosted its position in Ziff Davis by 212.2% during the 4th 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. Rockefeller Capital Management L.P. boosted 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 valued at $35,000 after buying an additional 687 shares during the period. Finally, Allworth Financial LP bought a new stake in Ziff Davis in the 2nd quarter worth $44,000. Institutional investors own 99.76% of the company's stock.

Ziff Davis Trading Down 0.6%

NASDAQ:ZD opened at $55.41 on Wednesday. The company has a 50-day moving average price of $52.41 and a 200-day moving average price of $45.14. The stock has a market cap of $1.90 billion, a price-to-earnings ratio of 3.14 and a beta of 1.08. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 0.32. Ziff Davis, Inc. has a 12 month low of $22.45 and a 12 month high of $58.06.

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Zacks Research downgraded shares of Ziff Davis from a "hold" rating to a "strong sell" rating in a research note on Wednesday, May 6th. Weiss Ratings upgraded Ziff Davis from a "hold (c-)" rating to a "hold (c)" rating in a report on Tuesday, August 11th. Citigroup upped their price target on Ziff Davis from $48.00 to $59.00 and gave the company a "neutral" rating in a research report on Monday, August 10th. Evercore reiterated an "outperform" rating and issued a $64.00 price objective on shares of Ziff Davis in a report on Monday, August 10th. Finally, Piper Sandler set a $48.00 price objective on Ziff Davis in a research report on Monday, May 11th. Three research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $56.62.

Insider Activity

In other news, Director W Brian Kretzmer sold 2,513 shares of the firm's stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $55.31, for a total value of $138,994.03. Following the completion of 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 position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Bret Richter sold 18,000 shares of Ziff Davis stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $46.88, for a total value of $843,840.00. Following the sale, 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 39,154 shares of company stock worth $1,894,300. Company insiders own 3.40% of the company's stock.

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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