Ziff Davis, Inc. (NASDAQ:ZD) Sees Significant Drop in Short Interest

Ziff Davis, Inc. (NASDAQ:ZD) saw a large decline in short interest in March. As of March 31st, there was short interest totalling 2,380,000 shares, a decline of 16.8% from the March 15th total of 2,860,000 shares. Based on an average daily volume of 496,900 shares, the days-to-cover ratio is presently 4.8 days. Currently, 5.6% of the shares of the company are short sold.

Insider Buying and Selling at Ziff Davis

In related news, Director W Brian Kretzmer acquired 653 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The shares were purchased at an average price of $38.33 per share, with a total value of $25,029.49. Following the completion of the acquisition, the director now owns 12,968 shares in the company, valued at approximately $497,063.44. This represents a 5.30 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Sarah Ann Fay bought 1,282 shares of the company’s stock in a transaction on Tuesday, March 4th. The stock was bought at an average cost of $39.00 per share, with a total value of $49,998.00. Following the completion of the acquisition, the director now owns 18,655 shares of the company’s stock, valued at $727,545. This represents a 7.38 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 5,028 shares of company stock valued at $198,024. 2.16% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Ziff Davis

Institutional investors and hedge funds have recently modified their holdings of the company. GAMMA Investing LLC grew its holdings in Ziff Davis by 148.4% in the 1st quarter. GAMMA Investing LLC now owns 713 shares of the technology company’s stock valued at $27,000 after buying an additional 426 shares during the period. Millstone Evans Group LLC acquired a new stake in shares of Ziff Davis in the fourth quarter worth approximately $35,000. Quadrant Capital Group LLC grew its holdings in Ziff Davis by 278.9% in the fourth quarter. Quadrant Capital Group LLC now owns 663 shares of the technology company’s stock valued at $36,000 after purchasing an additional 488 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in Ziff Davis during the third quarter worth approximately $37,000. Finally, Summit Securities Group LLC purchased a new position in Ziff Davis during the fourth quarter worth approximately $37,000. Hedge funds and other institutional investors own 99.76% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on ZD. UBS Group cut their price target on Ziff Davis from $65.00 to $56.00 and set a “neutral” rating for the company in a research note on Wednesday, February 26th. JPMorgan Chase & Co. cut their target price on shares of Ziff Davis from $70.00 to $60.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. Finally, Citigroup lowered their price target on shares of Ziff Davis from $58.00 to $52.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 26th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $65.67.

Ziff Davis Price Performance

Ziff Davis stock opened at $30.48 on Monday. The stock has a market capitalization of $1.31 billion, a P/E ratio of 25.83 and a beta of 1.47. Ziff Davis has a 12-month low of $30.20 and a 12-month high of $60.62. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.42 and a quick ratio of 1.42. The firm’s 50-day moving average is $40.27 and its two-hundred day moving average is $48.65.

Ziff Davis Company Profile

Ziff Davis, Inc, together with its subsidiaries, operates as a digital media and internet company in the United States and internationally. The company offers PCMag, an online resource for laboratory-based product reviews, technology news, buying guides, and research papers; Mashable for publishing technology and culture content; Spiceworks Ziff Davis provides digital content of IT products and services; retailMeNot, a savings destination platform; Offers.com, a coupon and deals website; and event-based properties, including BlackFriday.com, TheBlackFriday.com, BestBlackFriday.com, and DealsofAmerica.com.