Ziff Davis, Inc. $ZD Shares Bought by Nordea Investment Management AB

Key Points

• Nordea Investment Management AB increased its stake in Ziff Davis, Inc. by 3.5%, holding over 1 million shares valued at approximately $31.4 million.
• Ziff Davis reported a notable quarterly EPS of $1.24, surpassing estimates and showing a 10% revenue growth year-over-year with total revenue of $352.21 million.
• Analyst ratings on Ziff Davis are mixed, with two analysts recommending a buy, three maintaining a hold, and one issuing a sell rating, indicating varied market outlooks on the stock.

Nordea Investment Management AB raised its position in Ziff Davis, Inc. (NASDAQ:ZD - Free Report) by 3.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,035,836 shares of the technology company's stock after buying an additional 35,197 shares during the period. Nordea Investment Management AB owned about 2.46% of Ziff Davis worth $31,438,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Janney Montgomery Scott LLC acquired a new stake in Ziff Davis in the 1st quarter worth about $736,000. GAMMA Investing LLC lifted its stake in Ziff Davis by 148.4% during the first quarter. GAMMA Investing LLC now owns 713 shares of the technology company's stock worth $27,000 after purchasing an additional 426 shares in the last quarter. Fort Washington Investment Advisors Inc. OH lifted its stake in Ziff Davis by 13.3% during the second quarter. Fort Washington Investment Advisors Inc. OH now owns 414,105 shares of the technology company's stock worth $12,535,000 after purchasing an additional 48,655 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of Ziff Davis by 2.6% during the first quarter. Principal Financial Group Inc. now owns 212,797 shares of the technology company's stock worth $7,997,000 after acquiring an additional 5,456 shares during the period. Finally, PNC Financial Services Group Inc. increased its position in shares of Ziff Davis by 75.7% during the first quarter. PNC Financial Services Group Inc. now owns 6,139 shares of the technology company's stock worth $231,000 after acquiring an additional 2,645 shares during the period. 99.76% of the stock is currently owned by institutional investors and hedge funds.

Ziff Davis Price Performance

ZD stock opened at $35.98 on Friday. The firm has a 50 day moving average of $37.39 and a 200-day moving average of $33.86. Ziff Davis, Inc. has a 12-month low of $28.55 and a 12-month high of $60.62. The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 0.47. The company has a market cap of $1.48 billion, a price-to-earnings ratio of 23.99 and a beta of 1.60.

Ziff Davis (NASDAQ:ZD - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The technology company reported $1.24 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $352.21 million during the quarter, compared to the consensus estimate of $337.47 million. During the same period in the previous year, the firm posted $1.18 EPS. The company's quarterly revenue was up 10.0% compared to the same quarter last year. As a group, equities analysts expect that Ziff Davis, Inc. will post 5.93 EPS for the current fiscal year.

Insider Activity

In related news, Director Sarah Ann Fay acquired 1,354 shares of the business's stock in a transaction that occurred on Monday, September 15th. The stock was purchased at an average cost of $36.89 per share, for a total transaction of $49,949.06. Following the transaction, the director directly owned 23,619 shares of the company's stock, valued at approximately $871,304.91. This trade represents a 6.08% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 2.16% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

ZD has been the topic of several recent analyst reports. Wall Street Zen raised Ziff Davis from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Piper Sandler set a $40.00 price target on Ziff Davis in a report on Friday, August 8th. Weiss Ratings restated a "sell (d)" rating on shares of Ziff Davis in a research report on Wednesday, October 8th. Finally, Barclays restated a "positive" rating on shares of Ziff Davis in a research report on Friday, August 8th. Two investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $38.83.

About Ziff Davis

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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