Short Interest in Ziff Davis, Inc. (NASDAQ:ZD) Drops By 14.6%

Posted by on Jun 17th, 2022

Ziff Davis, Inc. (NASDAQ:ZD – Get Rating) was the recipient of a significant decline in short interest in May. As of May 31st, there was short interest totalling 3,160,000 shares, a decline of 14.6% from the May 15th total of 3,700,000 shares. Based on an average daily trading volume, of 315,700 shares, the days-to-cover ratio is presently 10.0 days. Approximately 6.9% of the shares of the stock are sold short.

Several hedge funds and other institutional investors have recently bought and sold shares of ZD. Zions Bancorporation N.A. purchased a new stake in Ziff Davis in the 1st quarter valued at about $25,000. Whittier Trust Co. purchased a new stake in Ziff Davis in the 1st quarter valued at about $26,000. Allworth Financial LP purchased a new stake in Ziff Davis in the 1st quarter valued at about $28,000. JJJ Advisors Inc. acquired a new position in Ziff Davis in the 1st quarter valued at about $30,000. Finally, Clearstead Advisors LLC acquired a new position in Ziff Davis in the 1st quarter valued at about $53,000. Institutional investors and hedge funds own 99.88% of the company’s stock.

ZD opened at $69.75 on Friday. The firm has a market capitalization of $3.30 billion, a PE ratio of 7.66 and a beta of 1.06. Ziff Davis has a 12-month low of $68.42 and a 12-month high of $147.35. The firm has a 50 day moving average of $83.14 and a two-hundred day moving average of $95.87. The company has a current ratio of 2.76, a quick ratio of 2.76 and a debt-to-equity ratio of 0.60.

Ziff Davis (NASDAQ:ZD – Get Rating) last posted its quarterly earnings results on Tuesday, May 10th. The technology company reported $1.23 EPS for the quarter, topping the consensus estimate of $1.21 by $0.02. Ziff Davis had a return on equity of 22.44% and a net margin of 27.66%. The business had revenue of $315.10 million for the quarter, compared to analyst estimates of $319.49 million. During the same quarter in the previous year, the firm earned $2.09 EPS. The company’s quarterly revenue was down 20.9% compared to the same quarter last year. As a group, analysts predict that Ziff Davis will post 6.31 EPS for the current fiscal year.

ZD has been the topic of a number of recent research reports. Susquehanna decreased their price target on shares of Ziff Davis from $225.00 to $140.00 in a research note on Thursday, May 12th. Robert W. Baird cut their price objective on shares of Ziff Davis from $125.00 to $100.00 in a research report on Thursday, May 12th. Wedbush cut their price objective on shares of Ziff Davis from $150.00 to $90.00 in a research report on Thursday, May 12th. JMP Securities cut their price objective on shares of Ziff Davis from $145.00 to $110.00 and set a “market outperform” rating on the stock in a research report on Monday, May 23rd. Finally, Susquehanna Bancshares cut their price objective on shares of Ziff Davis from $225.00 to $140.00 in a research report on Thursday, May 12th.

Ziff Davis Company Profile (Get Rating)

Ziff Davis, Inc, together with its subsidiaries, provides internet information and services in the United States, Canada, Ireland, and internationally. It operates in two segments, Digital Media, and Cybersecurity and Martech. The Digital Media segment operates a portfolio of web properties and apps, which include IGN, RetailMeNot, Mashable, PCMag, Humble Bundle, Speedtest, Offers, Black Friday, MedPageToday, Everyday Health, BabyCenter, and What to Expect, among others in the technology, shopping, entertainment, and health and wellness markets.

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