Shell Asset Management Co. Buys Shares of 6,586 Ziff Davis, Inc. (NASDAQ:ZD)

Shell Asset Management Co. bought a new stake in shares of Ziff Davis, Inc. (NASDAQ:ZDGet Rating) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 6,586 shares of the technology company’s stock, valued at approximately $637,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Arizona State Retirement System purchased a new position in Ziff Davis during the 1st quarter valued at about $1,198,000. Mount Yale Investment Advisors LLC purchased a new position in shares of Ziff Davis during the first quarter worth about $207,000. Corbyn Investment Management Inc. MD purchased a new position in shares of Ziff Davis during the first quarter worth about $9,847,000. Securian Asset Management Inc. purchased a new position in shares of Ziff Davis during the first quarter worth about $418,000. Finally, Fort Washington Investment Advisors Inc. OH purchased a new position in shares of Ziff Davis during the first quarter worth about $13,999,000. Hedge funds and other institutional investors own 99.88% of the company’s stock.

Ziff Davis Stock Up 2.5 %

Shares of ZD opened at $83.97 on Tuesday. The firm has a market cap of $3.97 billion, a P/E ratio of 9.22 and a beta of 1.02. The stock has a 50 day simple moving average of $76.70 and a two-hundred day simple moving average of $89.48. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.76 and a quick ratio of 2.76. Ziff Davis, Inc. has a 1 year low of $68.42 and a 1 year high of $143.09.

Ziff Davis (NASDAQ:ZDGet Rating) last issued its earnings results on Tuesday, May 10th. The technology company reported $1.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.21 by ($0.08). Ziff Davis had a return on equity of 22.44% and a net margin of 27.66%. The firm had revenue of $315.10 million during the quarter, compared to analysts’ expectations of $319.49 million. During the same period in the prior year, the company earned $2.09 EPS. The firm’s quarterly revenue was down 20.9% compared to the same quarter last year. On average, analysts forecast that Ziff Davis, Inc. will post 6.26 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on ZD. Susquehanna Bancshares cut their price objective on Ziff Davis from $225.00 to $140.00 in a report on Thursday, May 12th. Susquehanna cut their price objective on Ziff Davis from $225.00 to $140.00 in a report on Thursday, May 12th. JMP Securities cut 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. Robert W. Baird cut their target price on Ziff Davis from $125.00 to $100.00 in a research note on Thursday, May 12th. Finally, Wedbush cut their target price on Ziff Davis from $150.00 to $90.00 in a research note on Thursday, May 12th.

About Ziff Davis

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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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Institutional Ownership by Quarter for Ziff Davis (NASDAQ:ZD)

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