249,325 Shares in Ziff Davis, Inc. $ZD Bought by Pale Fire Capital SE

Key Points

• Pale Fire Capital SE has acquired 249,325 shares of Ziff Davis, Inc., valued at approximately $9.37 million, making this stock its 11th largest holding.
• The stock of Ziff Davis has experienced a price range between $28.55 and $60.62 over the past year, with a current market capitalization of $1.57 billion.
• Ziff Davis reported earnings of $1.24 EPS, surpassing analysts' expectations, and has a consensus rating of "Moderate Buy" with a target price of $46.86.

Pale Fire Capital SE purchased a new stake in Ziff Davis, Inc. (NASDAQ:ZD - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 249,325 shares of the technology company's stock, valued at approximately $9,370,000. Ziff Davis comprises approximately 1.1% of Pale Fire Capital SE's holdings, making the stock its 11th largest position. Pale Fire Capital SE owned about 0.58% of Ziff Davis as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in ZD. Wells Fargo & Company MN grew its position in shares of Ziff Davis by 19.6% in the 4th quarter. Wells Fargo & Company MN now owns 28,506 shares of the technology company's stock valued at $1,549,000 after buying an additional 4,670 shares during the last quarter. First Trust Advisors LP grew its position in shares of Ziff Davis by 105.6% in the 4th quarter. First Trust Advisors LP now owns 86,768 shares of the technology company's stock valued at $4,715,000 after buying an additional 44,569 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Ziff Davis by 5.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,412,780 shares of the technology company's stock valued at $131,112,000 after buying an additional 118,979 shares during the last quarter. Tower Research Capital LLC TRC grew its position in shares of Ziff Davis by 118.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,605 shares of the technology company's stock valued at $196,000 after buying an additional 1,952 shares during the last quarter. Finally, State of Tennessee Department of Treasury boosted its position in shares of Ziff Davis by 73.7% during the 4th quarter. State of Tennessee Department of Treasury now owns 19,441 shares of the technology company's stock valued at $1,056,000 after purchasing an additional 8,251 shares in the last quarter. Institutional investors own 99.76% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Susquehanna cut their target price on Ziff Davis from $80.00 to $45.00 and set a "positive" rating on the stock in a research report on Monday, May 12th. UBS Group set a $40.00 target price on Ziff Davis and gave the company a "neutral" rating in a research report on Wednesday, May 14th. Wall Street Zen upgraded Ziff Davis from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Piper Sandler set a $40.00 target price on Ziff Davis in a research report on Friday, August 8th. Finally, Barclays restated a "positive" rating on shares of Ziff Davis in a research report on Friday, August 8th. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, Ziff Davis presently has a consensus rating of "Moderate Buy" and a consensus price target of $46.86.

Ziff Davis Stock Down 0.3%

Shares of Ziff Davis stock traded down $0.13 on Tuesday, hitting $37.74. The company had a trading volume of 414,597 shares, compared to its average volume of 694,030. The stock has a market capitalization of $1.55 billion, a price-to-earnings ratio of 25.16 and a beta of 1.63. Ziff Davis, Inc. has a 1 year low of $28.55 and a 1 year high of $60.62. The stock has a 50 day moving average of $33.04 and a 200-day moving average of $35.51. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.59 and a current ratio of 1.59.

Ziff Davis (NASDAQ:ZD - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The technology company reported $1.24 EPS for the quarter, topping the consensus estimate of $1.22 by $0.02. The firm had revenue of $352.21 million during the quarter, compared to the consensus estimate of $337.47 million. Ziff Davis had a return on equity of 13.91% and a net margin of 4.57%.The company's quarterly 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 earnings per share. As a group, sell-side analysts forecast that Ziff Davis, Inc. will post 5.93 earnings per share for the current 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.