Ziff Davis, Inc. (NASDAQ:ZD) Position Trimmed by Pacer Advisors Inc.

Key Points

• Pacer Advisors Inc. significantly reduced its stake in Ziff Davis, Inc. by 58.6%, selling over 743,000 shares, leaving it with 524,089 shares valued at approximately $19.7 million.
• Several institutional investors increased their shares in Ziff Davis, with GAMMA Investing raising its position by 148.4% during the first quarter, highlighting ongoing interest in the stock despite Pacer Advisors' sell-off.
• Recent analyst reports have downgraded Ziff Davis' target price, with Citigroup lowering it from $52 to $35 and Barclays from $48 to $34, reflecting a shift in market sentiment towards the company.

Pacer Advisors Inc. trimmed its position in shares of Ziff Davis, Inc. (NASDAQ:ZD - Free Report) by 58.6% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 524,089 shares of the technology company's stock after selling 743,132 shares during the period. Pacer Advisors Inc. owned approximately 1.22% of Ziff Davis worth $19,695,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Janney Montgomery Scott LLC acquired a new stake in shares of Ziff Davis during the 1st quarter worth $736,000. GAMMA Investing LLC increased its holdings in Ziff Davis by 148.4% in the 1st quarter. GAMMA Investing LLC now owns 713 shares of the technology company's stock valued at $27,000 after purchasing an additional 426 shares in the last quarter. Wells Fargo & Company MN increased its holdings in Ziff Davis by 19.6% in the 4th quarter. Wells Fargo & Company MN now owns 28,506 shares of the technology company's stock valued at $1,549,000 after purchasing an additional 4,670 shares in the last quarter. Principal Financial Group Inc. increased its holdings in Ziff Davis by 2.6% in the 1st quarter. Principal Financial Group Inc. now owns 212,797 shares of the technology company's stock valued at $7,997,000 after purchasing an additional 5,456 shares in the last quarter. Finally, Franklin Resources Inc. increased its holdings in Ziff Davis by 52.2% in the 4th quarter. Franklin Resources Inc. now owns 32,819 shares of the technology company's stock valued at $1,783,000 after purchasing an additional 11,263 shares in the last quarter. 99.76% of the stock is currently owned by institutional investors and hedge funds.

Ziff Davis Stock Performance

Shares of NASDAQ:ZD traded down $0.10 during trading hours on Wednesday, hitting $31.50. The stock had a trading volume of 103,096 shares, compared to its average volume of 527,529. Ziff Davis, Inc. has a 1-year low of $29.15 and a 1-year high of $60.62. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.52 and a current ratio of 1.52. The firm has a market capitalization of $1.33 billion, a price-to-earnings ratio of 19.09 and a beta of 1.58. The stock's fifty day simple moving average is $31.98 and its 200 day simple moving average is $38.17.

Wall Street Analyst Weigh In

A number of research firms have weighed in on ZD. UBS Group set a $40.00 price objective on shares of Ziff Davis and gave the company a "neutral" rating in a research report on Wednesday, May 14th. Wall Street Zen cut shares of Ziff Davis from a "buy" rating to a "hold" rating in a research report on Saturday, July 5th. Citigroup decreased 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 report on Friday, April 25th. JPMorgan Chase & Co. cut shares of Ziff Davis from an "overweight" rating to a "neutral" rating and decreased their price objective for the company from $60.00 to $33.00 in a research report on Tuesday, April 22nd. Finally, Susquehanna decreased 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 report on Monday, May 12th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, Ziff Davis presently has an average rating of "Hold" and a consensus price target of $47.00.

Ziff Davis 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.