Public Sector Pension Investment Board Buys 29,030 Shares of Ziff Davis, Inc. $ZD

Key Points

• The Public Sector Pension Investment Board increased its stake in Ziff Davis, Inc. by 27.3%, purchasing an additional 29,030 shares and bringing its total to 135,522 shares, valued at approximately $5.09 million.
• Several institutional investors have also enhanced their holdings in Ziff Davis recently, with a notable increase from Janus Henderson Group and a new position established by Nuveen LLC worth around $25.38 million.
• Ziff Davis reported a quarterly earnings per share (EPS) of $1.24, exceeding analysts' expectations of $1.22, with a revenue of $352.21 million, marking a 10% year-over-year increase.

Public Sector Pension Investment Board increased its stake in shares of Ziff Davis, Inc. (NASDAQ:ZD - Free Report) by 27.3% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 135,522 shares of the technology company's stock after purchasing an additional 29,030 shares during the period. Public Sector Pension Investment Board owned 0.32% of Ziff Davis worth $5,093,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. Nuveen LLC acquired a new position in shares of Ziff Davis during the 1st quarter worth about $25,381,000. Invesco Ltd. raised its holdings in Ziff Davis by 12.5% in the 1st quarter. Invesco Ltd. now owns 186,248 shares of the technology company's stock valued at $6,999,000 after acquiring an additional 20,630 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Ziff Davis in the 1st quarter valued at about $1,276,000. Headlands Technologies LLC raised its holdings in Ziff Davis by 345.4% in the 1st quarter. Headlands Technologies LLC now owns 16,383 shares of the technology company's stock valued at $616,000 after acquiring an additional 12,705 shares during the last quarter. Finally, Corbyn Investment Management Inc. MD raised its holdings in Ziff Davis by 2.9% in the 1st quarter. Corbyn Investment Management Inc. MD now owns 113,637 shares of the technology company's stock valued at $4,270,000 after acquiring an additional 3,199 shares during the last quarter. Institutional investors and hedge funds own 99.76% of the company's stock.

Ziff Davis Stock Performance

Shares of NASDAQ:ZD traded up $2.65 during trading on Friday, reaching $38.90. The stock had a trading volume of 127,173 shares, compared to its average volume of 547,922. Ziff Davis, Inc. has a 52 week low of $28.55 and a 52 week high of $60.62. The firm has a market capitalization of $1.59 billion, a price-to-earnings ratio of 25.92 and a beta of 1.63. The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 0.47. The stock has a fifty day simple moving average of $32.63 and a two-hundred day simple moving average of $35.93.

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

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on ZD. Piper Sandler set a $40.00 price target on shares of Ziff Davis in a research note on Friday, August 8th. Wall Street Zen raised shares of Ziff Davis from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Susquehanna reduced their price objective on shares of Ziff Davis from $80.00 to $45.00 and set a "positive" rating on the stock in a research note on Monday, May 12th. UBS Group set a $40.00 price target on shares of Ziff Davis and gave the stock a "neutral" rating in a research report on Wednesday, May 14th. Finally, Citigroup cut their price objective on shares of Ziff Davis from $52.00 to $35.00 and set a "neutral" rating on the stock in a research report on Friday, April 25th. Three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $46.86.

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.