Arizona State Retirement System Buys Shares of 12,383 Ziff Davis, Inc. (NASDAQ:ZD)

Arizona State Retirement System bought a new stake in Ziff Davis, Inc. (NASDAQ:ZD – Get Rating) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 12,383 shares of the technology company’s stock, valued at approximately $1,198,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Brave Asset Management Inc. bought a new stake in shares of Ziff Davis in the first quarter worth about $27,134,000. Mountain Pacific Investment Advisers Inc. ID bought a new stake in shares of Ziff Davis in the first quarter worth about $17,437,000. Fort Washington Investment Advisors Inc. OH bought a new stake in shares of Ziff Davis in the first quarter worth about $13,999,000. Chicago Capital LLC bought a new stake in shares of Ziff Davis in the first quarter worth about $11,680,000. Finally, Scout Investments Inc. bought a new stake in shares of Ziff Davis in the first quarter worth about $10,529,000. Institutional investors and hedge funds own 99.88% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ZD. Robert W. Baird lowered their price target on Ziff Davis from $125.00 to $100.00 in a report on Thursday, May 12th. Susquehanna decreased their price objective on Ziff Davis from $225.00 to $140.00 in a report on Thursday, May 12th. Wedbush decreased their price objective on Ziff Davis from $150.00 to $90.00 in a report on Thursday, May 12th. JMP Securities decreased their price objective on Ziff Davis from $145.00 to $110.00 and set a “market outperform” rating for the company in a report on Monday, May 23rd. Finally, Susquehanna Bancshares decreased their price objective on Ziff Davis from $225.00 to $140.00 in a report on Thursday, May 12th.

Ziff Davis Stock Performance

Shares of NASDAQ ZD opened at $83.97 on Tuesday. The stock has a 50 day moving average price of $76.70 and a 200 day moving average price of $89.48. Ziff Davis, Inc. has a 52 week low of $68.42 and a 52 week high of $143.09. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.76 and a current ratio of 2.76. The stock has a market capitalization of $3.97 billion, a PE ratio of 9.22 and a beta of 1.02.

Ziff Davis (NASDAQ:ZD – Get Rating) last issued its quarterly earnings results on Tuesday, May 10th. The technology company reported $1.13 EPS for the quarter, missing the consensus estimate of $1.21 by ($0.08). Ziff Davis had a net margin of 27.66% and a return on equity of 22.44%. The company had revenue of $315.10 million for the quarter, compared to analyst estimates of $319.49 million. During the same period last year, the company posted $2.09 earnings per share. The business’s revenue for the quarter was down 20.9% on a year-over-year basis. Analysts predict that Ziff Davis, Inc. will post 6.26 earnings per share for the current fiscal year.

Ziff Davis Company Profile

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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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