Rhumbline Advisers Trims 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 trimmed its holdings in Ziff Davis, Inc. (NASDAQ:ZD - Free Report) by 5.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 126,983 shares of the technology company's stock after selling 7,241 shares during the period. Rhumbline Advisers owned approximately 0.30% of Ziff Davis worth $4,772,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the company. Fuller & Thaler Asset Management Inc. grew its position in shares of Ziff Davis by 10.5% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 1,113,654 shares of the technology company's stock valued at $41,851,000 after purchasing an additional 105,761 shares in the last quarter. Nuveen LLC purchased a new stake in Ziff Davis during the first quarter valued at about $25,381,000. Rice Hall James & Associates LLC boosted its position in Ziff Davis by 21.9% during the first quarter. Rice Hall James & Associates LLC now owns 601,573 shares of the technology company's stock valued at $22,607,000 after buying an additional 108,101 shares during the period. Allspring Global Investments Holdings LLC raised its stake in shares of Ziff Davis by 50.8% during the first quarter. Allspring Global Investments Holdings LLC now owns 538,123 shares of the technology company's stock valued at $20,314,000 after acquiring an additional 181,234 shares during the last quarter. Finally, Wellington Management Group LLP raised its stake in shares of Ziff Davis by 34.2% during the fourth quarter. Wellington Management Group LLP now owns 443,707 shares of the technology company's stock valued at $24,111,000 after acquiring an additional 113,157 shares during the last quarter. 99.76% of the stock is currently owned by hedge funds and other institutional investors.

Ziff Davis Trading Down 2.8%

Shares of Ziff Davis stock opened at $36.63 on Friday. The company's fifty day simple moving average is $34.62 and its 200-day simple moving average is $34.31. The stock has a market capitalization of $1.50 billion, a PE ratio of 24.42 and a beta of 1.58. Ziff Davis, Inc. has a 1-year low of $28.55 and a 1-year high of $60.62. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.59 and a quick 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 for the quarter, beating analysts' consensus estimates of $1.22 by $0.02. The company had revenue of $352.21 million for the quarter, compared to analysts' expectations 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 for the quarter was up 10.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.18 EPS. As a group, equities analysts anticipate that Ziff Davis, Inc. will post 5.93 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on ZD shares. Barclays reissued a "positive" rating 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 note on Saturday, August 9th. Finally, Piper Sandler set a $40.00 price target on shares of Ziff Davis in a research report on Friday, August 8th. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price 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.

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