Ziff Davis, Inc. $ZD is Brave Asset Management Inc.'s 5th Largest Position

Key Points

• Brave Asset Management increased its Ziff Davis stake by 11.9% in the first quarter, making ZD its 5th-largest position and about 4.6% of its portfolio.
• Analyst sentiment on Ziff Davis is mixed: the stock carries a Hold consensus rating with an average price target of $47.25, though several firms recently raised targets and maintained bullish views.
• Ziff Davis reported quarterly EPS of $0.73, slightly beating estimates, while revenue came in at $267.64 million; the company also saw recent insider selling from both a director and an EVP.

Brave Asset Management Inc. grew its holdings in Ziff Davis, Inc. (NASDAQ:ZD - Free Report) by 11.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 470,282 shares of the technology company's stock after buying an additional 50,127 shares during the quarter. Ziff Davis comprises 4.6% of Brave Asset Management Inc.'s investment portfolio, making the stock its 5th biggest holding. Brave Asset Management Inc. owned 1.24% of Ziff Davis worth $19,733,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Federated Hermes Inc. purchased a new position in Ziff Davis in the fourth quarter worth $25,000. Hantz Financial Services Inc. lifted its holdings in Ziff Davis by 212.2% in the fourth quarter. Hantz Financial Services Inc. now owns 868 shares of the technology company's stock valued at $31,000 after acquiring an additional 590 shares during the period. NBC Securities Inc. boosted its position in shares of Ziff Davis by 121.2% during the 4th quarter. NBC Securities Inc. now owns 885 shares of the technology company's stock worth $31,000 after purchasing an additional 485 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Ziff Davis by 207.1% during the 4th quarter. GAMMA Investing LLC now owns 906 shares of the technology company's stock worth $32,000 after purchasing an additional 611 shares in the last quarter. Finally, Rockefeller Capital Management L.P. grew its stake in shares of Ziff Davis by 226.7% during the 4th quarter. Rockefeller Capital Management L.P. now owns 990 shares of the technology company's stock worth $35,000 after purchasing an additional 687 shares during the period. 99.76% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently commented on ZD shares. UBS Group reduced their price objective on shares of Ziff Davis from $38.00 to $30.00 and set a "neutral" rating for the company in a research note on Wednesday, February 25th. Royal Bank Of Canada upped their target price on shares of Ziff Davis from $40.00 to $48.00 and gave the stock an "outperform" rating in a research report on Monday, May 11th. Susquehanna increased their target price on shares of Ziff Davis from $45.00 to $60.00 and gave the company a "positive" rating in a report on Tuesday, May 5th. Evercore reiterated an "outperform" rating and set a $61.00 price target on shares of Ziff Davis in a research report on Tuesday, May 12th. Finally, Piper Sandler set a $48.00 price target on Ziff Davis in a research note on Monday, May 11th. Three investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Ziff Davis presently has a consensus rating of "Hold" and an average price target of $47.25.

Ziff Davis Price Performance

Shares of NASDAQ ZD opened at $46.40 on Wednesday. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.42. The company's 50-day moving average price is $44.97 and its 200 day moving average price is $39.80. Ziff Davis, Inc. has a 52 week low of $22.45 and a 52 week high of $50.55. The stock has a market cap of $1.71 billion, a price-to-earnings ratio of 41.06 and a beta of 1.13.

Ziff Davis (NASDAQ:ZD - Get Free Report) last announced its earnings results on Thursday, May 7th. The technology company reported $0.73 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.72 by $0.01. Ziff Davis had a net margin of 3.26% and a return on equity of 12.17%. The company had revenue of $267.64 million during the quarter, compared to analysts' expectations of $264.32 million. During the same quarter in the previous year, the business posted $1.14 earnings per share. The firm's quarterly revenue was down 1.9% compared to the same quarter last year. As a group, research analysts forecast that Ziff Davis, Inc. will post 4.08 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Kirk P. Mcdonald sold 1,075 shares of the stock in a transaction on Monday, June 8th. The stock was sold at an average price of $46.65, for a total transaction of $50,148.75. Following the sale, the director owned 13,468 shares of the company's stock, valued at $628,282.20. This trade represents a 7.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Jeremy Rossen sold 8,000 shares of the stock in a transaction on Friday, June 5th. The shares were sold at an average price of $47.00, for a total value of $376,000.00. Following the sale, the executive vice president directly owned 14,462 shares in the company, valued at approximately $679,714. The trade was a 35.62% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 31,422 shares of company stock valued at $1,468,864. Corporate insiders own 3.40% of the company's stock.

Ziff Davis Profile

Ziff Davis, Inc is a digital media and internet company that operates a diverse portfolio of online brands, subscription-based services and performance marketing platforms. The company specializes in technology publishing and digital marketing solutions, offering content, reviews and insights tailored to consumer and enterprise audiences. Ziff Davis's flagship media properties include PCMag, which provides expert reviews and comparisons of consumer electronics and software, as well as IGN, a leading destination for gaming news, reviews and entertainment coverage.

Founded in 1927 by William B.

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