Ziff Davis, Inc. $ZD Shares Purchased by Allianz Asset Management GmbH

Key Points

• Allianz Asset Management GmbH increased its stake in Ziff Davis, Inc. by 6.0%, owning approximately 0.46% of the company with 193,312 shares valued at about $5.85 million.
• Analysts have mixed ratings for Ziff Davis, with a recent upgrade to a "buy" by Wall Street Zen and a "sell" rating from Weiss Ratings, resulting in an average rating of "hold" and a price target of $38.83.
• Ziff Davis reported earnings per share of $1.24 for the last quarter, surpassing analysts' expectations and showing a 10% increase in quarterly revenue year-over-year.

Allianz Asset Management GmbH raised its position in Ziff Davis, Inc. (NASDAQ:ZD - Free Report) by 6.0% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 193,312 shares of the technology company's stock after acquiring an additional 11,000 shares during the quarter. Allianz Asset Management GmbH owned approximately 0.46% of Ziff Davis worth $5,852,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of ZD. Allspring Global Investments Holdings LLC lifted its position in shares of Ziff Davis by 16.4% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 626,137 shares of the technology company's stock worth $19,911,000 after purchasing an additional 88,014 shares during the last quarter. CWM LLC raised its stake in Ziff Davis by 1,973.1% in the second quarter. CWM LLC now owns 13,869 shares of the technology company's stock valued at $420,000 after buying an additional 13,200 shares in the last quarter. Hennessy Advisors Inc. purchased a new stake in Ziff Davis during the 2nd quarter worth about $87,000. One Wealth Advisors LLC acquired a new position in shares of Ziff Davis during the 2nd quarter worth about $205,000. Finally, Fort Washington Investment Advisors Inc. OH increased its holdings in shares of Ziff Davis by 13.3% in the 2nd quarter. Fort Washington Investment Advisors Inc. OH now owns 414,105 shares of the technology company's stock valued at $12,535,000 after acquiring an additional 48,655 shares during the last quarter. 99.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Ziff Davis Stock Performance

Shares of ZD opened at $37.75 on Thursday. The company's 50 day simple moving average is $37.52 and its 200-day simple moving average is $33.93. The firm has a market cap of $1.55 billion, a PE ratio of 25.17 and a beta of 1.60. 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.

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 for the quarter, topping analysts' consensus estimates of $1.22 by $0.02. Ziff Davis had a net margin of 4.57% and a return on equity of 13.91%. The firm had revenue of $352.21 million during the quarter, compared to analysts' expectations of $337.47 million. During the same quarter in the prior year, the business earned $1.18 EPS. Ziff Davis's quarterly revenue was up 10.0% compared to the same quarter last year. As a group, equities analysts predict that Ziff Davis, Inc. will post 5.93 EPS for the current year.

Insider Transactions at Ziff Davis

In related news, Director Sarah Ann Fay acquired 1,354 shares of Ziff Davis stock in a transaction on Monday, September 15th. The stock was purchased at an average cost of $36.89 per share, with a total value of $49,949.06. Following the purchase, the director directly owned 23,619 shares in the company, valued at approximately $871,304.91. The trade was a 6.08% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 2.16% of the stock is owned by company insiders.

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.

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