Zedge (NYSEAMERICAN:ZDGE) Shares Up 11.6% - Here's What Happened

Shares of Zedge, Inc. (NYSEAMERICAN:ZDGE - Get Free Report) traded up 11.6% during trading on Monday . The stock traded as high as $4.35 and last traded at $4.24. 224,949 shares traded hands during mid-day trading, an increase of 124% from the average session volume of 100,346 shares. The stock had previously closed at $3.80.

Zedge Trading Up 0.5%

The firm has a fifty day simple moving average of $3.17. The company has a market capitalization of $58.30 million, a PE ratio of -33.62 and a beta of 1.00.

Insider Transactions at Zedge

In related news, Director Mark Ghermezian sold 25,767 shares of the company's stock in a transaction on Wednesday, June 25th. The shares were sold at an average price of $3.99, for a total transaction of $102,810.33. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 21.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ZDGE. Ridgewood Investments LLC bought a new position in shares of Zedge in the second quarter worth about $322,000. Thompson Davis & CO. Inc. bought a new position in shares of Zedge in the first quarter worth about $84,000. Squarepoint Ops LLC bought a new position in shares of Zedge in the fourth quarter worth about $71,000. Jane Street Group LLC bought a new position in shares of Zedge in the fourth quarter worth about $53,000. Finally, XTX Topco Ltd bought a new position in shares of Zedge in the fourth quarter worth about $40,000. 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.