Vanguard Group Inc. Sells 46,088 Shares of Ziff Davis, Inc. $ZD

Key Points

• Vanguard Group Inc. reduced its shareholding in Ziff Davis, Inc. by 0.9%, now owning 4,883,907 shares worth approximately $183.54 million.
• Several institutional investors, including GAMMA Investing LLC and PNC Financial Services Group Inc., significantly increased their stakes, with PNC raising its holdings by 75.7%.
• Ziff Davis, Inc. reported earnings per share (EPS) of $1.24, exceeding estimates, and its quarterly revenue increased by 10.0% year-over-year.

Vanguard Group Inc. trimmed its stake in shares of Ziff Davis, Inc. (NASDAQ:ZD - Free Report) by 0.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,883,907 shares of the technology company's stock after selling 46,088 shares during the period. Vanguard Group Inc. owned about 11.38% of Ziff Davis worth $183,537,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC lifted its position in shares of 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. Sterling Capital Management LLC lifted its position 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 valued at $76,000 after acquiring an additional 1,234 shares during the period. Tower Research Capital LLC TRC raised its position in shares of Ziff Davis by 118.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,605 shares of the technology company's stock worth $196,000 after purchasing an additional 1,952 shares during the last quarter. Western Wealth Management LLC acquired a new position in shares of Ziff Davis during the 4th quarter worth approximately $217,000. Finally, Hancock Whitney Corp acquired a new position in shares of Ziff Davis during the 4th quarter worth approximately $232,000. 99.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently issued reports on ZD. Wall Street Zen upgraded Ziff Davis from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Barclays reiterated a "positive" rating on shares of Ziff Davis in a report on Friday, August 8th. Piper Sandler set a $40.00 price target on Ziff Davis in a report on Friday, August 8th. Susquehanna lowered their price objective on shares of Ziff Davis from $80.00 to $45.00 and set a "positive" rating for the company in a research note on Monday, May 12th. Finally, Citigroup lowered their price objective on shares of Ziff Davis from $52.00 to $35.00 and set a "neutral" rating for the company in a research note on Friday, April 25th. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, Ziff Davis currently has a consensus rating of "Moderate Buy" and an average target price of $46.86.

Ziff Davis Price Performance

Shares of NASDAQ ZD traded up $1.96 during mid-day trading on Friday, reaching $38.21. 607,602 shares of the company traded hands, compared to its average volume of 676,339. Ziff Davis, Inc. has a fifty-two week low of $28.55 and a fifty-two week 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. The firm has a market cap of $1.57 billion, a PE ratio of 25.47 and a beta of 1.63. The stock has a fifty day simple moving average of $32.78 and a 200-day simple moving average of $35.83.

Ziff Davis (NASDAQ:ZD - Get Free Report) last posted its quarterly 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 firm had revenue of $352.21 million for 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 quarter in the previous year, the business posted $1.18 earnings per share. Equities research analysts anticipate that Ziff Davis, Inc. will post 5.93 EPS 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.