Russell Investments Group Ltd. Decreases Position in Ziff Davis, Inc. $ZD

Key Points

• Russell Investments Group Ltd. has reduced its stake in Ziff Davis, Inc. by 61.7%, now holding approximately 63,375 shares worth around $2.38 million.
• Multiple institutional investors are actively engaging with Ziff Davis, with Public Sector Pension Investment Board increasing its share by 27.3% and Nuveen LLC making a new investment valued at about $25.4 million.
• Analysts have set a consensus price target for Ziff Davis at $46.86, with ratings ranging from "Buy" to "Hold." Major firms have varied targets, including UBS's $40.00 and Susquehanna's revised $45.00.

Russell Investments Group Ltd. reduced its position in Ziff Davis, Inc. (NASDAQ:ZD - Free Report) by 61.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 63,375 shares of the technology company's stock after selling 101,887 shares during the period. Russell Investments Group Ltd. owned 0.15% of Ziff Davis worth $2,382,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in ZD. GAMMA Investing LLC increased its stake in Ziff Davis by 148.4% during the first quarter. GAMMA Investing LLC now owns 713 shares of the technology company's stock worth $27,000 after acquiring an additional 426 shares during the last quarter. Tower Research Capital LLC TRC increased its stake in 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 worth $196,000 after acquiring an additional 1,952 shares during the last quarter. Western Wealth Management LLC bought a new stake in Ziff Davis during the fourth quarter worth approximately $217,000. PNC Financial Services Group Inc. increased its stake in 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 worth $231,000 after acquiring an additional 2,645 shares during the last quarter. Finally, Hancock Whitney Corp bought a new stake in Ziff Davis during the fourth quarter worth approximately $232,000. 99.76% of the stock is owned by institutional investors.

Ziff Davis Trading Down 1.3%

NASDAQ:ZD traded down $0.48 during midday trading on Thursday, hitting $37.31. The stock had a trading volume of 358,571 shares, compared to its average volume of 677,001. The stock has a 50-day moving average of $33.27 and a 200 day moving average of $35.41. 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 company has a market capitalization of $1.53 billion, a price-to-earnings ratio of 24.87 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.

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

Analysts Set New Price Targets

Several brokerages have weighed in on ZD. Barclays reissued a "positive" rating on shares of Ziff Davis in a research note on Friday, August 8th. UBS Group set a $40.00 target price on Ziff Davis and gave the company a "neutral" rating in a research note on Wednesday, May 14th. Wall Street Zen raised Ziff Davis from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Piper Sandler set a $40.00 target price on Ziff Davis in a research note on Friday, August 8th. Finally, 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 note on Monday, May 12th. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Ziff Davis currently has a consensus rating of "Moderate Buy" and an average target price 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.