Zedge, Inc. (NYSEAMERICAN:ZDGE - Get Free Report) was down 5.2% during trading on Monday . The stock traded as low as $3.65 and last traded at $3.65. Approximately 68,431 shares traded hands during mid-day trading, a decline of 26% from the average daily volume of 93,100 shares. The stock had previously closed at $3.85.
Zedge Stock Performance
The stock has a market cap of $44.42 million, a PE ratio of -25.62 and a beta of 1.04. The company's fifty day moving average is $3.75.
Insider Activity
In other Zedge news, Director Mark Ghermezian sold 25,767 shares of the stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $3.99, for a total value of $102,810.33. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 21.40% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Ridgewood Investments LLC bought a new position in shares of Zedge during the second quarter valued at approximately $322,000. Thompson Davis & CO. Inc. purchased a new position in Zedge during the 1st quarter valued at $84,000. Squarepoint Ops LLC bought a new position in Zedge in the 4th quarter valued at $71,000. Jane Street Group LLC bought a new position in Zedge in the 4th quarter valued at $53,000. Finally, XTX Topco Ltd purchased a new stake in Zedge in the fourth quarter worth $40,000. 29.37% of the stock is currently owned by institutional investors.
About Zedge
(
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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.
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