j2 Global, Inc. (JCOM) Shares Sold by Macquarie Group Ltd.
Macquarie Group Ltd. cut its holdings in j2 Global, Inc. (NASDAQ:JCOM) by 19.8% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,005,538 shares of the technology company’s stock after selling 248,789 shares during the quarter. Macquarie Group Ltd. owned approximately 2.08% of j2 Global worth $85,561,000 at the end of the most recent reporting period.
A number of other large investors have also added to or reduced their stakes in the stock. Flinton Capital Management LLC boosted its stake in j2 Global by 82.9% in the second quarter. Flinton Capital Management LLC now owns 4,726 shares of the technology company’s stock valued at $402,000 after buying an additional 2,142 shares in the last quarter. Royal Bank of Canada boosted its stake in j2 Global by 0.4% in the second quarter. Royal Bank of Canada now owns 253,013 shares of the technology company’s stock valued at $21,529,000 after buying an additional 978 shares in the last quarter. AHL Partners LLP boosted its stake in j2 Global by 1.9% in the second quarter. AHL Partners LLP now owns 72,208 shares of the technology company’s stock valued at $6,144,000 after buying an additional 1,373 shares in the last quarter. Clinton Group Inc. acquired a new stake in j2 Global in the second quarter valued at about $594,000. Finally, First Allied Advisory Services Inc. acquired a new stake in j2 Global in the second quarter valued at about $976,000.
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j2 Global, Inc. (NASDAQ JCOM) traded down 0.20% during mid-day trading on Thursday, reaching $73.82. The company had a trading volume of 90,090 shares. The stock has a 50 day moving average price of $73.92 and a 200-day moving average price of $81.86. j2 Global, Inc. has a 12-month low of $62.55 and a 12-month high of $91.48. The stock has a market capitalization of $3.57 billion, a P/E ratio of 24.73 and a beta of 0.94.
j2 Global (NASDAQ:JCOM) last announced its earnings results on Thursday, August 3rd. The technology company reported $1.25 earnings per share for the quarter, missing analysts’ consensus estimates of $1.31 by ($0.06). The business had revenue of $273.20 million during the quarter, compared to the consensus estimate of $271.89 million. j2 Global had a return on equity of 26.62% and a net margin of 14.74%. j2 Global’s revenue was up 29.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.21 earnings per share. Equities analysts anticipate that j2 Global, Inc. will post $5.76 EPS for the current fiscal year.
Several research firms recently weighed in on JCOM. BidaskClub lowered j2 Global from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 9th. Zacks Investment Research raised j2 Global from a “sell” rating to a “hold” rating in a research note on Wednesday. ValuEngine lowered j2 Global from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Citigroup Inc. reduced their price objective on j2 Global from $89.00 to $88.00 and set a “neutral” rating on the stock in a research note on Monday, August 7th. Finally, Robert W. Baird reaffirmed a “buy” rating and issued a $94.00 price objective on shares of j2 Global in a research note on Friday, September 1st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $101.75.
j2 Global Company Profile
j2 Global, Inc is a provider of services delivered through the Internet. The Company provides cloud services to businesses of all sizes, from individuals to enterprises. The Company operates in two segments: Business Cloud Services and Digital Media. The Company’s Digital Media business segment consists of the Web properties and business operations of Ziff Davis, Inc (Ziff Davis).
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