Insider Selling: Zedge, Inc. (NYSEAMERICAN:ZDGE) Director Sells 46,683 Shares of Stock

Zedge, Inc. (NYSEAMERICAN:ZDGE - Get Free Report) Director Mark Ghermezian sold 46,683 shares of Zedge stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $4.06, for a total transaction of $189,532.98. Following the completion of the sale, the director now directly owns 25,767 shares in the company, valued at approximately $104,614.02. This represents a 64.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Mark Ghermezian also recently made the following trade(s):

• On Wednesday, June 25th, Mark Ghermezian sold 25,767 shares of Zedge stock. The stock was sold at an average price of $3.99, for a total transaction of $102,810.33.

Zedge Trading Up 0.5%

Shares of ZDGE traded up $0.02 during trading hours on Friday, hitting $4.01. The company's stock had a trading volume of 108,032 shares, compared to its average volume of 99,836. The company has a market cap of $53.49 million, a P/E ratio of -30.85 and a beta of 0.83. The company has a 50 day moving average price of $2.72. Zedge, Inc. has a 52-week low of $1.73 and a 52-week high of $4.37.

Hedge Funds Weigh In On Zedge

Large investors have recently modified their holdings of the business. Thompson Davis & CO. Inc. purchased a new position in Zedge during the first quarter valued at approximately $84,000. Flower City Capital purchased a new position in Zedge during the first quarter valued at approximately $31,000. Welch Group LLC purchased a new position in Zedge during the first quarter valued at approximately $29,000. Squarepoint Ops LLC purchased a new position in Zedge during the fourth quarter valued at approximately $71,000. Finally, Jane Street Group LLC purchased a new position in Zedge during the fourth quarter valued at approximately $53,000. Hedge funds and other institutional investors own 29.37% of the company's stock.

About Zedge

Zedge, Inc builds digital marketplaces and competitive games around content that people use to express themselves. It offers the Zedge Ringtones and Wallpapers app, a freemium digital content marketplace that provides a wide array of mobile personalization content, including mobile phone wallpapers, video wallpapers, ringtones, and notification sounds.