Wealth Enhancement Advisory Services LLC Takes Position in Ziff Davis, Inc. $ZD

Key Points

• Wealth Enhancement Advisory Services LLC has acquired a new stake in Ziff Davis, Inc., purchasing 10,384 shares valued at approximately $335,000 during the second quarter.
• Several hedge funds have significantly increased their positions in Ziff Davis, with one firm, GAMMA Investing LLC, boosting its stake by 9,236.2%.
• Ziff Davis reported earnings of <$1.24 EPS>, exceeding expectations, with a revenue increase of 10.0% year-over-year.

Wealth Enhancement Advisory Services LLC purchased a new stake in Ziff Davis, Inc. (NASDAQ:ZD - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 10,384 shares of the technology company's stock, valued at approximately $335,000.

A number of other hedge funds have also made changes to their positions in ZD. GAMMA Investing LLC increased its position in shares of Ziff Davis by 9,236.2% in the first quarter. GAMMA Investing LLC now owns 26,795 shares of the technology company's stock valued at $1,007,000 after buying an additional 26,508 shares in the last quarter. Wedge Capital Management L L P NC boosted its stake in shares of Ziff Davis by 17.2% during the first quarter. Wedge Capital Management L L P NC now owns 37,435 shares of the technology company's stock valued at $1,407,000 after acquiring an additional 5,492 shares during the last quarter. Handelsbanken Fonder AB boosted its stake in shares of Ziff Davis by 37.5% during the first quarter. Handelsbanken Fonder AB now owns 16,516 shares of the technology company's stock valued at $621,000 after acquiring an additional 4,500 shares during the last quarter. Fort Washington Investment Advisors Inc. OH boosted its stake in shares of Ziff Davis by 4.2% during the first quarter. Fort Washington Investment Advisors Inc. OH now owns 365,450 shares of the technology company's stock valued at $13,734,000 after acquiring an additional 14,846 shares during the last quarter. Finally, Exchange Traded Concepts LLC boosted its stake in shares of Ziff Davis by 2.4% during the first quarter. Exchange Traded Concepts LLC now owns 58,032 shares of the technology company's stock valued at $2,181,000 after acquiring an additional 1,386 shares during the last quarter. Hedge funds and other institutional investors own 99.76% of the company's stock.

Ziff Davis Stock Performance

Shares of NASDAQ:ZD opened at $38.89 on Wednesday. The company has a market cap of $1.59 billion, a P/E ratio of 25.93 and a beta of 1.60. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.59 and a current ratio of 1.59. Ziff Davis, Inc. has a one year low of $28.55 and a one year high of $60.62. The business's 50-day simple moving average is $36.66 and its 200 day simple moving average is $34.04.

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

Insider Activity at Ziff Davis

In related news, Director Sarah Ann Fay bought 1,354 shares of the company's stock in a transaction that occurred on Monday, September 15th. The shares were acquired at an average cost of $36.89 per share, for a total transaction of $49,949.06. Following the acquisition, the director owned 23,619 shares in the company, valued at $871,304.91. This represents a 6.08% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 2.16% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Piper Sandler set a $40.00 price objective on Ziff Davis in a research note on Friday, August 8th. Barclays reaffirmed a "positive" rating on shares of Ziff Davis in a research note on Friday, August 8th. Weiss Ratings reissued a "sell (d)" rating on shares of Ziff Davis in a research note on Saturday, September 27th. Finally, Wall Street Zen raised Ziff Davis from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Two analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $38.83.

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.

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