Zeta Global Holdings Corp. $ZETA Shares Sold by Penn Capital Management Company LLC

Key Points

• Penn Capital cut its Zeta Global stake by 35.5% in the third quarter, selling 366,931 shares. It ended the period with 666,331 shares, valued at about $21.1 million.
• Zeta Global beat third-quarter estimates, reporting EPS of $0.38 versus $0.28 expected and revenue of $492.66 million versus $471.08 million expected; revenue rose 46.1% year over year. The company projected fourth-quarter revenue of $521 million to $525 million.
• Analyst sentiment was broadly positive: 12 analysts rated the stock Buy, two Hold, and one Sell, for a Moderate Buy consensus and an average price target of $37.06.

Penn Capital Management Company LLC decreased its position in shares of Zeta Global Holdings Corp. (NYSE:ZETA - Free Report) by 35.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 666,331 shares of the company's stock after selling 366,931 shares during the period. Zeta Global makes up 1.5% of Penn Capital Management Company LLC's holdings, making the stock its 12th biggest position. Penn Capital Management Company LLC owned 0.27% of Zeta Global worth $21,076,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in ZETA. Kestra Private Wealth Services LLC bought a new position in Zeta Global during the third quarter worth about $212,000. Integrity Alliance LLC. acquired a new stake in Zeta Global in the 3rd quarter worth about $443,000. Vise Technologies Inc. raised its stake in Zeta Global by 5.7% in the 3rd quarter. Vise Technologies Inc. now owns 31,340 shares of the company's stock worth $989,000 after purchasing an additional 1,691 shares in the last quarter. MGO One Seven LLC boosted its holdings in Zeta Global by 2.8% in the 3rd quarter. MGO One Seven LLC now owns 11,089 shares of the company's stock valued at $350,000 after purchasing an additional 299 shares during the period. Finally, Left Brain Wealth Management LLC bought a new stake in Zeta Global in the 3rd quarter valued at about $316,000. Institutional investors own 87.75% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on ZETA shares. Freedom Capital lowered shares of Zeta Global from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 6th. William Blair set a $29.00 price target on shares of Zeta Global in a research report on Thursday, August 6th. Royal Bank Of Canada lifted their price target on shares of Zeta Global from $31.00 to $40.00 and gave the company an "outperform" rating in a research report on Monday, October 5th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Zeta Global in a research note on Thursday, October 15th. Finally, Truist Financial increased their price target on Zeta Global from $30.00 to $38.00 and gave the stock a "buy" rating in a research report on Friday, October 9th. Twelve analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $37.06.

Zeta Global Stock Up 4.3%

ZETA stock opened at $32.36 on Tuesday. Zeta Global Holdings Corp. has a 52 week low of $14.36 and a 52 week high of $35.75. The business has a 50-day simple moving average of $31.72 and a 200 day simple moving average of $22.83. The company has a quick ratio of 2.38, a current ratio of 2.38 and a debt-to-equity ratio of 0.21. The company has a market cap of $8.12 billion, a PE ratio of -1,617.80, a price-to-earnings-growth ratio of 4.48 and a beta of 1.25.

Zeta Global (NYSE:ZETA - Get Free Report) last announced its quarterly earnings data on Monday, November 9th. The company reported $0.38 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.28 by $0.10. Zeta Global had a negative net margin of 0.15% and a positive return on equity of 5.32%. The firm had revenue of $492.66 million for the quarter, compared to the consensus estimate of $471.08 million. During the same period in the prior year, the company posted $0.18 earnings per share. The business's revenue for the quarter was up 46.1% on a year-over-year basis. Sell-side analysts anticipate that Zeta Global Holdings Corp. will post 0.21 EPS for the current fiscal year.

More Zeta Global News

Here are the key news stories impacting Zeta Global this week:

• Positive Sentiment: Third-quarter earnings were $0.38 per share, above the $0.28 consensus estimate and up from $0.22 a year earlier. Revenue of $492.66 million also topped expectations of $471.08 million. Zacks: Zeta Global Tops Q3 Earnings and Revenue Estimates
• Positive Sentiment: Management characterized this as the company’s 21st consecutive “beat and raise” quarter, reported positive GAAP net income for Q3 and year to date, and said its full-year outlook exceeded expectations. These results may reinforce confidence in Zeta’s growth and execution. Zeta Global earnings announcement
• Positive Sentiment: Zeta expects fourth-quarter revenue of $521 million to $525 million, indicating continued growth after its Q3 beat. Zeta Global Q4 revenue guidance

Zeta Global Profile

Zeta Global is a marketing technology company that helps businesses use consumer data and artificial intelligence to plan and deliver digital marketing. Its platform combines data, analytics and campaign tools to help organizations identify audiences and engage customers throughout the marketing lifecycle.

The company's products support marketing activities such as customer acquisition, engagement and retention across channels including email, mobile, social media and the web. Zeta's offerings include its Zeta Marketing Platform and the Zeta Data Cloud, which help clients manage audience insights and coordinate campaigns.

Founded in 2007 and headquartered in New York, Zeta Global serves businesses in multiple markets.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.