Strs Ohio Makes New $703,000 Investment in Ziff Davis, Inc. $ZD

Key Points

• Strs Ohio acquired 18,700 shares of Ziff Davis, Inc. for approximately $703,000 in the first quarter, highlighting institutional investor interest in the company.
• Ziff Davis reported a quarterly earnings per share (EPS) of $1.24, exceeding analysts' expectations and indicating a 10% increase in revenue compared to the previous year.
• Barclays has a "positive" rating on Ziff Davis, with a consensus target price of $38.83, while two analysts rated the stock as a "buy."

Strs Ohio purchased a new position in Ziff Davis, Inc. (NASDAQ:ZD - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 18,700 shares of the technology company's stock, valued at approximately $703,000.

Other hedge funds also recently bought and sold shares of the company. Janney Montgomery Scott LLC bought a new position in Ziff Davis in the 1st quarter worth about $736,000. GAMMA Investing LLC lifted its stake in Ziff Davis by 148.4% during the 1st quarter. GAMMA Investing LLC now owns 713 shares of the technology company's stock valued at $27,000 after acquiring an additional 426 shares during the period. Principal Financial Group Inc. lifted its stake in Ziff Davis by 2.6% during the 1st quarter. Principal Financial Group Inc. now owns 212,797 shares of the technology company's stock valued at $7,997,000 after acquiring an additional 5,456 shares during the period. PNC Financial Services Group Inc. lifted its stake in Ziff Davis by 75.7% during the 1st 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 during the period. Finally, Petrus Trust Company LTA bought a new position in Ziff Davis during the 1st quarter valued at about $279,000. Institutional investors own 99.76% of the company's stock.

Analyst Ratings Changes

Several equities analysts have issued reports on ZD shares. Barclays restated a "positive" rating on shares of Ziff Davis in a research note on Friday, August 8th. Piper Sandler set a $40.00 price target on shares of Ziff Davis in a research report on Friday, August 8th. Finally, Wall Street Zen raised shares of Ziff Davis from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat.com, Ziff Davis presently has an average rating of "Hold" and a consensus price target of $38.83.

Insider Transactions at Ziff Davis

In other news, Director Sarah Ann Fay bought 1,354 shares of Ziff Davis stock in a transaction that occurred on Monday, September 15th. The stock was bought at an average cost of $36.89 per share, with a total value of $49,949.06. Following the acquisition, the director owned 23,619 shares of the company's stock, valued at $871,304.91. The trade was a 6.08% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.16% of the company's stock.

Ziff Davis Stock Performance

Ziff Davis stock traded up $0.60 during midday trading on Tuesday, hitting $38.24. The stock had a trading volume of 22,735 shares, compared to its average volume of 543,546. The firm's fifty day moving average is $35.24 and its two-hundred day moving average is $34.20. The company has a market capitalization of $1.57 billion, a PE ratio of 25.54 and a beta of 1.58. Ziff Davis, Inc. has a 52-week low of $28.55 and a 52-week high of $60.62. The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 0.47.

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, topping the consensus estimate 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 net margin of 4.57% and a return on equity of 13.91%. The firm's quarterly revenue was up 10.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.18 EPS. On average, research analysts forecast that Ziff Davis, Inc. will post 5.93 EPS for the current 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.