Rhumbline Advisers Decreases Stock Holdings in Ziff Davis, Inc. $ZD

Key Points

• Rhumbline Advisers reduced its holdings in Ziff Davis, Inc. by 5.4%, owning approximately 0.30% of the company after selling 7,241 shares in the first quarter.
• Other institutional investors, such as Fuller & Thaler and Allspring Global Investments, increased their stakes in Ziff Davis, reflecting a strong interest in the company, which is currently owned 99.76% by hedge funds and institutional investors.
• Ziff Davis reported a better-than-expected earnings per share of $1.24 for the most recent quarter, exceeding analysts' estimates of $1.22 and achieving a revenue of $352.21 million, up by 10% year-over-year.

Rhumbline Advisers reduced its holdings in shares of Ziff Davis, Inc. (NASDAQ:ZD - Free Report) by 5.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 126,983 shares of the technology company's stock after selling 7,241 shares during the period. Rhumbline Advisers owned about 0.30% of Ziff Davis worth $4,772,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. GAMMA Investing LLC increased its position in shares of Ziff Davis by 148.4% in the 1st quarter. GAMMA Investing LLC now owns 713 shares of the technology company's stock valued at $27,000 after purchasing an additional 426 shares during the last quarter. State of Wyoming purchased a new stake in shares of Ziff Davis in the 1st quarter valued at approximately $39,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Ziff Davis in the 1st quarter valued at approximately $57,000. Western Wealth Management LLC purchased a new stake in shares of Ziff Davis in the 4th quarter valued at approximately $217,000. Finally, PNC Financial Services Group Inc. increased its position in shares of 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. 99.76% of the stock is owned by hedge funds and other institutional investors.

Ziff Davis Trading Up 2.2%

Ziff Davis stock traded up $0.84 during trading on Thursday, reaching $39.20. The company had a trading volume of 507,924 shares, compared to its average volume of 456,284. Ziff Davis, Inc. has a 12-month low of $28.55 and a 12-month high of $60.62. The stock's 50 day moving average price is $35.03 and its two-hundred day moving average price is $34.29. The firm has a market capitalization of $1.61 billion, a price-to-earnings ratio of 26.13 and a beta of 1.58. 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 released its 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. Ziff Davis had a net margin of 4.57% and a return on equity of 13.91%. The firm had revenue of $352.21 million during the quarter, compared to the consensus estimate of $337.47 million. During the same period in the previous year, the firm earned $1.18 earnings per share. Ziff Davis's revenue was up 10.0% compared to the same quarter last year. As a group, equities analysts expect that Ziff Davis, Inc. will post 5.93 earnings per share for the current fiscal year.

Insider Transactions at Ziff Davis

In related news, Director Sarah Ann Fay bought 1,354 shares of the stock in a transaction that occurred on Monday, September 15th. The stock was purchased at an average cost of $36.89 per share, for a total transaction of $49,949.06. Following the completion of the acquisition, the director owned 23,619 shares in the company, valued at $871,304.91. This trade represents a 6.08% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.16% of the company's stock.

Analysts Set New Price Targets

ZD has been the topic of a number of recent analyst reports. Barclays reissued a "positive" rating on shares of Ziff Davis in a research report 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. Finally, Piper Sandler set a $40.00 target price on shares of Ziff Davis in a research report on Friday, August 8th. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Ziff Davis has an average rating of "Hold" and an average price target of $38.83.

Ziff Davis Company 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.