Pale Fire Capital SE Purchases Shares of 249,325 Ziff Davis, Inc. $ZD

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 shares of Ziff Davis, Inc. (NASDAQ:ZD - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 249,325 shares of the technology company's stock, valued at approximately $9,370,000. Ziff Davis makes up approximately 1.1% of Pale Fire Capital SE's portfolio, making the stock its 11th biggest position. Pale Fire Capital SE owned about 0.58% of Ziff Davis as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC increased its holdings in shares of Ziff Davis by 148.4% during the first quarter. GAMMA Investing LLC now owns 713 shares of the technology company's stock valued at $27,000 after acquiring an additional 426 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new position in shares of Ziff Davis during the first quarter valued at $57,000. Tower Research Capital LLC TRC increased its holdings in shares of Ziff Davis by 118.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,605 shares of the technology company's stock valued at $196,000 after acquiring an additional 1,952 shares in the last quarter. Western Wealth Management LLC bought a new position in shares of Ziff Davis during the fourth quarter valued at $217,000. Finally, PNC Financial Services Group Inc. increased its holdings in shares of Ziff Davis by 75.7% during the first quarter. PNC Financial Services Group Inc. now owns 6,139 shares of the technology company's stock valued at $231,000 after acquiring an additional 2,645 shares in the last quarter. 99.76% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

ZD has been the subject of several analyst reports. Barclays restated a "positive" rating on shares of Ziff Davis in a report on Friday, August 8th. Wall Street Zen upgraded Ziff Davis from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Susquehanna reduced their price target on Ziff Davis from $80.00 to $45.00 and set a "positive" rating for the company in a report on Monday, May 12th. Piper Sandler set a $40.00 price objective on Ziff Davis in a report on Friday, August 8th. Finally, UBS Group set a $40.00 price objective on Ziff Davis and gave the stock a "neutral" rating in a report on Wednesday, May 14th. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $46.86.

Ziff Davis Stock Performance

Shares of Ziff Davis stock traded up $0.58 during trading hours on Friday, reaching $37.89. 139,618 shares of the stock traded hands, compared to its average volume of 544,894. The company has a 50 day moving average price of $33.27 and a 200 day moving average price of $35.41. The firm has a market capitalization of $1.55 billion, a price-to-earnings ratio of 25.26 and a beta of 1.63. Ziff Davis, Inc. has a one year low of $28.55 and a one year high of $60.62. 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 (NASDAQ:ZD - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The technology company reported $1.24 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.22 by $0.02. The business 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 business's quarterly revenue was up 10.0% compared to the same quarter last year. During the same period in the previous year, the company posted $1.18 EPS. On average, equities research analysts expect that Ziff Davis, Inc. will post 5.93 earnings per share for the current fiscal year.

About Ziff Davis

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.