Tocqueville Asset Management L.P. Takes $10.28 Million Position in Ziff Davis, Inc. $ZD

Key Points

• Tocqueville Asset Management acquired 196,217 Ziff Davis shares worth approximately $10.28 million, representing about 0.53% of the company. Institutional investors and hedge funds collectively own 99.76% of Ziff Davis.
• Ziff Davis insiders sold 36,641 shares worth roughly $1.76 million over the past three months, including sales by the CFO and an executive vice president.
• Analyst sentiment is mixed, with a consensus “Hold” rating and an average price target of $56.62. The company recently beat quarterly EPS estimates, but revenue declined 18.7% year over year.

Tocqueville Asset Management L.P. acquired a new position in shares of Ziff Davis, Inc. (NASDAQ:ZD - Free Report) in the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 196,217 shares of the technology company's stock, valued at approximately $10,276,000. Tocqueville Asset Management L.P. owned approximately 0.53% of Ziff Davis at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Pale Fire Capital SE raised its holdings in Ziff Davis by 130.0% in the 1st quarter. Pale Fire Capital SE now owns 2,783,366 shares of the technology company's stock valued at $116,790,000 after acquiring an additional 1,573,414 shares during the last quarter. First Trust Advisors LP increased its holdings in shares of Ziff Davis by 689.6% during the 1st quarter. First Trust Advisors LP now owns 974,591 shares of the technology company's stock worth $40,894,000 after buying an additional 851,163 shares during the last quarter. Rice Hall James & Associates LLC purchased a new stake in shares of Ziff Davis during the 2nd quarter valued at approximately $43,022,000. Goldman Sachs Group Inc. lifted its holdings in Ziff Davis by 260.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 597,573 shares of the technology company's stock valued at $21,005,000 after acquiring an additional 431,828 shares during the last quarter. Finally, Bank of New York Mellon Corp acquired a new position in Ziff Davis in the second quarter valued at approximately $16,361,000. 99.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Ziff Davis

In other Ziff Davis news, EVP Jeremy Rossen sold 8,000 shares of Ziff Davis stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $47.00, for a total transaction of $376,000.00. Following the transaction, the executive vice president owned 14,462 shares of the company's stock, valued at $679,714. The trade was a 35.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Bret Richter sold 18,000 shares of Ziff Davis stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $46.88, for a total transaction of $843,840.00. Following the completion of the transaction, the chief financial officer owned 29,244 shares in the company, valued at approximately $1,370,958.72. This represents a 38.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 36,641 shares of company stock worth $1,755,306. Insiders own 3.40% of the company's stock.

Wall Street Analysts Forecast Growth

ZD has been the topic of a number of research analyst reports. Zacks Research downgraded Ziff Davis from a "hold" rating to a "strong sell" rating in a research report on Wednesday, May 6th. Evercore restated an "outperform" rating and issued a $64.00 price objective on shares of Ziff Davis in a report on Monday, August 10th. Royal Bank Of Canada increased their target price on shares of Ziff Davis from $48.00 to $65.00 and gave the stock an "outperform" rating in a research note on Monday, August 10th. UBS Group upped their price objective on shares of Ziff Davis from $30.00 to $59.00 and gave the stock a "neutral" rating in a report on Wednesday, August 12th. Finally, Barclays boosted their target price on Ziff Davis from $45.00 to $48.00 and gave the company an "equal weight" rating in a research report on Monday, May 11th. Three equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $56.62.

Ziff Davis Stock Performance

Shares of ZD stock opened at $55.50 on Thursday. Ziff Davis, Inc. has a 52 week low of $22.45 and a 52 week high of $58.06. The firm has a 50 day moving average of $51.63 and a two-hundred day moving average of $44.59. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $1.90 billion, a PE ratio of 3.14 and a beta of 1.08.

Ziff Davis (NASDAQ:ZD - Get Free Report) last released its earnings results on Thursday, August 6th. The technology company reported $1.03 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.81 by $0.22. Ziff Davis had a return on equity of 10.73% and a net margin of 48.57%.The firm had revenue of $286.74 million during the quarter, compared to analyst estimates of $286.10 million. During the same period last year, the business posted $1.24 earnings per share. Ziff Davis's revenue was down 18.7% compared to the same quarter last year.

Ziff Davis Company Profile

Ziff Davis, Inc is a digital media and internet company that operates a diverse portfolio of online brands, subscription-based services and performance marketing platforms. The company specializes in technology publishing and digital marketing solutions, offering content, reviews and insights tailored to consumer and enterprise audiences. Ziff Davis's flagship media properties include PCMag, which provides expert reviews and comparisons of consumer electronics and software, as well as IGN, a leading destination for gaming news, reviews and entertainment coverage.

Founded in 1927 by William B.

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