Zillow Group, Inc. (ZG) Stake Lowered by River & Mercantile Asset Management LLP
River & Mercantile Asset Management LLP decreased its position in Zillow Group, Inc. (NASDAQ:ZG) by 29.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 49,600 shares of the technology company’s stock after selling 20,861 shares during the period. River & Mercantile Asset Management LLP’s holdings in Zillow Group were worth $2,420,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in the company. Advisors Asset Management Inc. acquired a new position in Zillow Group during the second quarter worth approximately $161,000. UBS Asset Management Americas Inc. acquired a new position in Zillow Group during the fourth quarter worth approximately $200,000. Fox Run Management L.L.C. acquired a new position in Zillow Group during the first quarter worth approximately $213,000. Norris Perne & French LLP MI acquired a new position in Zillow Group during the second quarter worth approximately $232,000. Finally, Connable Office Inc. acquired a new position in Zillow Group during the second quarter worth approximately $245,000. 26.13% of the stock is owned by institutional investors and hedge funds.
Zillow Group, Inc. (ZG) opened at 38.56 on Tuesday. The stock’s 50 day moving average is $43.66 and its 200 day moving average is $40.52. The firm’s market cap is $7.15 billion. Zillow Group, Inc. has a one year low of $31.17 and a one year high of $50.91.
Zillow Group (NASDAQ:ZG) last issued its quarterly earnings results on Tuesday, August 8th. The technology company reported ($0.12) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.01) by $0.11. Zillow Group had a negative net margin of 4.47% and a negative return on equity of 0.40%. The business had revenue of $266.85 million during the quarter, compared to the consensus estimate of $262.21 million. During the same quarter in the previous year, the business posted ($0.71) EPS. The company’s revenue for the quarter was up 28.0% on a year-over-year basis. On average, equities research analysts expect that Zillow Group, Inc. will post $0.49 earnings per share for the current year.
ZG has been the subject of a number of research reports. Deutsche Bank AG reaffirmed a “hold” rating and issued a $50.00 price objective (up previously from $44.00) on shares of Zillow Group in a report on Monday, August 7th. Craig Hallum reaffirmed a “buy” rating on shares of Zillow Group in a report on Thursday, June 22nd. Cowen and Company lifted their price objective on shares of Zillow Group from $37.00 to $40.00 and gave the stock a “market perform” rating in a report on Friday, May 5th. Benchmark Co. lifted their price objective on shares of Zillow Group from $43.00 to $46.00 and gave the stock a “buy” rating in a report on Friday, May 5th. Finally, KeyCorp initiated coverage on shares of Zillow Group in a report on Monday, July 17th. They issued an “equal weight” rating for the company. Six research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Zillow Group has a consensus rating of “Buy” and a consensus target price of $45.07.
Zillow Group Company Profile
Zillow Group, Inc operates real estate and home-related information marketplaces on mobile and the Web in the United States. The company offers a portfolio of brands and products to enable people find information about homes and connect with local professionals. Its brands focus on various stages of the home lifecycle, including renting, buying, selling, and financing.
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