Short Interest in Ziff Davis, Inc. (NASDAQ:ZD) Increases By 1,321.1%

Key Points

• Ziff Davis, Inc. experienced a significant increase in short interest, rising by 1,321.1% to a total of 4,060,000 shares as of July 15th, which constitutes approximately 9.9% of the company's stock sold short.
• Shares of Ziff Davis have declined by 5.2%, with current trading at $29.49, compared to a 52-week high of $60.62 and a low of $28.55.
• Multiple analysts have downgraded their target prices for Ziff Davis, with the consensus target now at $47.00, reflecting a cautious sentiment from several equity research firms.

Ziff Davis, Inc. (NASDAQ:ZD - Get Free Report) saw a significant increase in short interest in July. As of July 15th, there was short interest totaling 4,060,000 shares, anincreaseof1,321.1% from the June 30th total of 285,700 shares. Approximately9.9% of the company's stock are sold short. Based on an average trading volume of 562,400 shares, the short-interest ratio is currently 7.2 days. Based on an average trading volume of 562,400 shares, the short-interest ratio is currently 7.2 days. Approximately9.9% of the company's stock are sold short.

Ziff Davis Trading Down 5.2%

Shares of ZD stock opened at $29.49 on Friday. Ziff Davis has a 52-week low of $28.55 and a 52-week 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 company has a 50-day simple moving average of $31.94 and a two-hundred day simple moving average of $37.78. The company has a market capitalization of $1.24 billion, a price-to-earnings ratio of 17.87 and a beta of 1.63.

Institutional Investors Weigh In On Ziff Davis

A number of institutional investors have recently added to or reduced their stakes in ZD. KLP Kapitalforvaltning AS bought a new stake in Ziff Davis in the 4th quarter worth about $533,000. Norges Bank purchased a new position in Ziff Davis in the fourth quarter valued at about $219,000. Arrowstreet Capital Limited Partnership boosted its stake in Ziff Davis by 369.7% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 434,779 shares of the technology company's stock valued at $23,626,000 after acquiring an additional 342,207 shares during the last quarter. Schroder Investment Management Group purchased a new position in Ziff Davis in the fourth quarter valued at about $3,115,000. Finally, Wellington Management Group LLP boosted its stake in Ziff Davis by 34.2% in the fourth quarter. Wellington Management Group LLP now owns 443,707 shares of the technology company's stock valued at $24,111,000 after acquiring an additional 113,157 shares during the last quarter. 99.76% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on ZD shares. JPMorgan Chase & Co. downgraded shares of Ziff Davis from an "overweight" rating to a "neutral" rating and decreased their target price for the stock from $60.00 to $33.00 in a research report on Tuesday, April 22nd. Susquehanna decreased their target price 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. UBS Group set a $40.00 target price on shares of Ziff Davis and gave the stock a "neutral" rating in a research report on Wednesday, May 14th. Citigroup decreased their target price 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. Finally, Barclays decreased their target price on shares of Ziff Davis from $48.00 to $34.00 and set an "equal weight" rating for the company in a research report on Tuesday, May 13th. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Ziff Davis presently has a consensus rating of "Hold" and a consensus target price of $47.00.

Ziff Davis Company 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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