Wellington Management Group LLP Has $12.79 Million Stake in Ziff Davis, Inc. $ZD

Key Points

• Wellington Management Group LLP reduced its stake in Ziff Davis, Inc. by 23.3%, selling 103,415 shares, and now holds approximately 0.79% of the company's stock valued at $12.8 million.
• Ziff Davis has received a consensus rating of "Moderate Buy" from analysts, with a current price target averaging $46.86, amidst various upgrades and downgrades from institutions.
• The company reported a quarterly earnings per share of $1.24, exceeding estimates, alongside a revenue of $352.21 million, which is a 10% increase compared to the same quarter last year.

Wellington Management Group LLP cut its position in shares of Ziff Davis, Inc. (NASDAQ:ZD - Free Report) by 23.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 340,292 shares of the technology company's stock after selling 103,415 shares during the period. Wellington Management Group LLP owned about 0.79% of Ziff Davis worth $12,788,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. GAMMA Investing LLC increased 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 purchasing an additional 426 shares during the period. Caitong International Asset Management Co. Ltd acquired a new stake in Ziff Davis in the 1st quarter valued at $57,000. Tower Research Capital LLC TRC boosted its stake in Ziff Davis by 118.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,605 shares of the technology company's stock valued at $196,000 after buying an additional 1,952 shares in the last quarter. Western Wealth Management LLC acquired a new stake in Ziff Davis in the 4th quarter valued at $217,000. Finally, PNC Financial Services Group Inc. boosted its stake in Ziff Davis by 75.7% in the 1st quarter. PNC Financial Services Group Inc. now owns 6,139 shares of the technology company's stock valued at $231,000 after buying an additional 2,645 shares in the last quarter. 99.76% of the stock is currently owned by institutional investors.

Ziff Davis Trading Up 2.4%

Shares of ZD traded up $0.90 during trading hours on Friday, hitting $38.21. 498,748 shares of the stock traded hands, compared to its average volume of 659,075. 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 1-year low of $28.55 and a 1-year high of $60.62. The firm has a market capitalization of $1.57 billion, a PE ratio of 25.47 and a beta of 1.63. The business has a fifty day moving average of $33.40 and a 200-day moving average of $35.30.

Ziff Davis (NASDAQ:ZD - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The technology company reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.22 by $0.02. Ziff Davis had a return on equity of 13.91% and a net margin of 4.57%.The business had revenue of $352.21 million for the quarter, compared to analyst estimates of $337.47 million. During the same quarter in the prior year, the firm posted $1.18 earnings per share. The firm's revenue for the quarter was up 10.0% compared to the same quarter last year. Analysts expect that Ziff Davis, Inc. will post 5.93 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Piper Sandler set a $40.00 price target on Ziff Davis in a research note on Friday, August 8th. Wall Street Zen raised Ziff Davis from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Susquehanna reduced their price objective on Ziff Davis from $80.00 to $45.00 and set a "positive" rating on the stock in a research note on Monday, May 12th. UBS Group set a $40.00 price objective on Ziff Davis and gave the stock a "neutral" rating in a research note on Wednesday, May 14th. Finally, Barclays reissued a "positive" rating on shares of Ziff Davis in a research note on Friday, August 8th. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, Ziff Davis presently has a consensus rating of "Moderate Buy" and a consensus price target of $46.86.

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.