Bessemer Group Inc. Increases Holdings in j2 Global, Inc. (JCOM)
Bessemer Group Inc. raised its stake in shares of j2 Global, Inc. (NASDAQ:JCOM) by 18.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 48,867 shares of the technology company’s stock after buying an additional 7,523 shares during the period. Bessemer Group Inc. owned about 0.10% of j2 Global worth $3,610,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Alps Advisors Inc. raised its stake in j2 Global by 0.3% during the 2nd quarter. Alps Advisors Inc. now owns 5,629 shares of the technology company’s stock valued at $479,000 after buying an additional 15 shares during the last quarter. First Mercantile Trust Co. raised its stake in j2 Global by 1.9% during the 2nd quarter. First Mercantile Trust Co. now owns 2,150 shares of the technology company’s stock valued at $183,000 after buying an additional 40 shares during the last quarter. Advisor Group Inc. raised its stake in j2 Global by 1.7% during the 2nd quarter. Advisor Group Inc. now owns 2,535 shares of the technology company’s stock valued at $195,000 after buying an additional 43 shares during the last quarter. World Asset Management Inc raised its stake in j2 Global by 2.0% during the 2nd quarter. World Asset Management Inc now owns 3,025 shares of the technology company’s stock valued at $257,000 after buying an additional 59 shares during the last quarter. Finally, Chase Investment Counsel Corp raised its stake in j2 Global by 1.3% during the 2nd quarter. Chase Investment Counsel Corp now owns 7,271 shares of the technology company’s stock valued at $618,000 after buying an additional 96 shares during the last quarter.
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In related news, VP Jeremy Rossen sold 2,514 shares of the company’s stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $74.05, for a total value of $186,161.70. Following the completion of the transaction, the vice president now owns 26,372 shares of the company’s stock, valued at approximately $1,952,846.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 5.15% of the company’s stock.
Shares of j2 Global, Inc. (NASDAQ JCOM) opened at $74.48 on Monday. The company has a quick ratio of 2.79, a current ratio of 2.79 and a debt-to-equity ratio of 1.02. The company has a market capitalization of $3,605.49, a price-to-earnings ratio of 14.52 and a beta of 0.88. j2 Global, Inc. has a 12 month low of $69.61 and a 12 month high of $91.48.
j2 Global (NASDAQ:JCOM) last issued its earnings results on Thursday, November 2nd. The technology company reported $1.34 earnings per share for the quarter, missing the consensus estimate of $1.36 by ($0.02). The firm had revenue of $273.60 million during the quarter, compared to the consensus estimate of $272.84 million. j2 Global had a return on equity of 26.43% and a net margin of 12.60%. The company’s quarterly revenue was up 30.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.25 EPS. research analysts anticipate that j2 Global, Inc. will post 5.35 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 5th. Investors of record on Friday, November 17th will be issued a $0.395 dividend. The ex-dividend date is Thursday, November 16th. This represents a $1.58 annualized dividend and a yield of 2.12%. This is an increase from j2 Global’s previous quarterly dividend of $0.39. j2 Global’s dividend payout ratio is currently 57.04%.
A number of brokerages have weighed in on JCOM. Zacks Investment Research lowered shares of j2 Global from a “hold” rating to a “sell” rating in a research note on Friday, October 20th. ValuEngine upgraded j2 Global from a “hold” rating to a “buy” rating in a research note on Wednesday, October 11th. Robert W. Baird restated a “buy” rating and issued a $94.00 price objective on shares of j2 Global in a research note on Friday, September 1st. BidaskClub lowered j2 Global from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 9th. Finally, Citigroup Inc. reduced their price objective on j2 Global from $89.00 to $88.00 and set a “neutral” rating for the company in a research note on Monday, August 7th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus 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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