Tocqueville Asset Management L.P. Boosts Stock Holdings in Ziff Davis, Inc. (NASDAQ:ZD)

Key Points

• Tocqueville Asset Management L.P. increased its stake in Ziff Davis by 28.5% during the first quarter, acquiring an additional 26,700 shares, bringing its total holdings to about 120,400 shares valued at approximately $4.5 million.
• Several hedge funds significantly raised their positions in Ziff Davis, with GAMMA Investing LLC increasing its holdings by 148.4% and other firms acquiring new stakes valued at hundreds of thousands.
• Ziff Davis reported earnings that exceeded analysts' expectations, with an EPS of $1.24 and revenue of $352.21 million for the quarter, representing a 10% year-over-year increase.

Tocqueville Asset Management L.P. grew its holdings in Ziff Davis, Inc. (NASDAQ:ZD - Free Report) by 28.5% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 120,400 shares of the technology company's stock after purchasing an additional 26,700 shares during the quarter. Tocqueville Asset Management L.P. owned approximately 0.28% of Ziff Davis worth $4,525,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the business. GAMMA Investing LLC lifted its position in shares of Ziff Davis by 148.4% during the first quarter. GAMMA Investing LLC now owns 713 shares of the technology company's stock valued at $27,000 after buying an additional 426 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new position in shares of Ziff Davis during the 1st quarter worth approximately $57,000. Sterling Capital Management LLC raised its stake in shares of Ziff Davis by 786.0% during the 4th quarter. Sterling Capital Management LLC now owns 1,391 shares of the technology company's stock worth $76,000 after acquiring an additional 1,234 shares in the last quarter. Tower Research Capital LLC TRC lifted its position 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 valued at $196,000 after acquiring an additional 1,952 shares during the last quarter. Finally, Western Wealth Management LLC acquired a new stake in Ziff Davis in the fourth quarter valued at approximately $217,000. Hedge funds and other institutional investors own 99.76% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently commented on ZD shares. Wall Street Zen raised shares of Ziff Davis from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. UBS Group set a $40.00 price target on shares of Ziff Davis and gave the company a "neutral" rating in a research note on Wednesday, May 14th. Susquehanna decreased their price target on shares of Ziff Davis from $80.00 to $45.00 and set a "positive" rating for the company in a report on Monday, May 12th. Piper Sandler set a $40.00 price objective on shares of Ziff Davis in a report on Friday, August 8th. Finally, Citigroup cut their target price on 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 equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $46.86.

Ziff Davis Stock Up 0.5%

Ziff Davis stock opened at $36.40 on Friday. The firm has a market capitalization of $1.49 billion, a P/E ratio of 24.27 and a beta of 1.63. 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, Inc. has a twelve month low of $28.55 and a twelve month high of $60.62. The stock's fifty day simple moving average is $32.39 and its 200-day simple moving average is $36.28.

Ziff Davis (NASDAQ:ZD - Get Free Report) last released its quarterly earnings data 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. Ziff Davis had a net margin of 4.57% and a return on equity of 13.91%. The business had revenue of $352.21 million during the quarter, compared to analysts' expectations of $337.47 million. During the same period in the previous year, the company earned $1.18 EPS. The company's revenue for the quarter was up 10.0% on a year-over-year basis. As a group, equities analysts expect that Ziff Davis, Inc. will post 5.93 earnings per share for the current fiscal year.

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.

Want to see what other hedge funds are holding ZD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ziff Davis, Inc. (NASDAQ:ZD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.