Short Interest in Ziff Davis, Inc. (NASDAQ:ZD) Expands 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) was the recipient of a large growth in short interest during the month of July. As of July 15th, there was short interest totaling 4,060,000 shares, agrowthof1,321.1% from the June 30th total of 285,700 shares. Based on an average daily volume of 562,400 shares, the short-interest ratio is currently 7.2 days. Approximately9.9% of the company's shares are short sold. Approximately9.9% of the company's shares are short sold. Based on an average daily volume of 562,400 shares, the short-interest ratio is currently 7.2 days.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in ZD. Janus Henderson Group PLC grew its stake in shares of Ziff Davis by 8.5% during the fourth quarter. Janus Henderson Group PLC now owns 3,487,495 shares of the technology company's stock worth $189,512,000 after buying an additional 272,895 shares during the last quarter. Legal & General Group Plc lifted its holdings in Ziff Davis by 12.4% during the 4th quarter. Legal & General Group Plc now owns 2,425,947 shares of the technology company's stock worth $131,826,000 after buying an additional 267,436 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Ziff Davis by 5.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,412,780 shares of the technology company's stock worth $131,112,000 after buying an additional 118,979 shares during the period. CDAM UK Ltd lifted its holdings in Ziff Davis by 16.6% during the 4th quarter. CDAM UK Ltd now owns 1,492,860 shares of the technology company's stock worth $81,122,000 after buying an additional 213,071 shares during the period. Finally, Fuller & Thaler Asset Management Inc. lifted its holdings in Ziff Davis by 10.5% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 1,113,654 shares of the technology company's stock worth $41,851,000 after buying an additional 105,761 shares during the period. 99.76% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Barclays dropped 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. Susquehanna reduced 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 note on Monday, May 12th. JPMorgan Chase & Co. downgraded shares of Ziff Davis from an "overweight" rating to a "neutral" rating and reduced their price objective for the stock from $60.00 to $33.00 in a research note on Tuesday, April 22nd. Citigroup cut 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 note on Friday, April 25th. Finally, Wall Street Zen downgraded shares of Ziff Davis from a "buy" rating to a "hold" rating in a research report on Saturday, July 5th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, Ziff Davis presently has a consensus rating of "Hold" and a consensus price target of $47.00.

Ziff Davis Stock Performance

Shares of ZD traded down $0.72 during mid-day trading on Tuesday, hitting $29.79. 166,911 shares of the company's stock were exchanged, compared to its average volume of 530,075. The stock's 50-day simple moving average is $31.93 and its 200-day simple moving average is $37.38. The firm has a market cap of $1.25 billion, a price-to-earnings ratio of 18.05 and a beta of 1.63. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 0.47. Ziff Davis has a 52 week low of $28.55 and a 52 week high of $60.62.

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.