Randall L. Hales Sells 50,001 Shares of ZAGG Inc (ZAGG) Stock
ZAGG Inc (NASDAQ:ZAGG) CEO Randall L. Hales sold 50,001 shares of the company’s stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $19.16, for a total value of $958,019.16. Following the transaction, the chief executive officer now owns 713,380 shares in the company, valued at $13,668,360.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of ZAGG Inc (ZAGG) traded up $0.50 during mid-day trading on Monday, hitting $19.25. The company’s stock had a trading volume of 1,335,900 shares, compared to its average volume of 414,397. The stock has a market capitalization of $538.52, a price-to-earnings ratio of 74.04, a price-to-earnings-growth ratio of 3.90 and a beta of 0.82. ZAGG Inc has a 12 month low of $5.90 and a 12 month high of $19.81. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.68 and a current ratio of 1.12.
ZAGG (NASDAQ:ZAGG) last issued its quarterly earnings data on Wednesday, November 1st. The specialty retailer reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.02. ZAGG had a return on equity of 6.59% and a net margin of 0.63%. The company had revenue of $134.40 million for the quarter, compared to analyst estimates of $128.23 million. During the same quarter last year, the company posted $0.29 earnings per share. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. research analysts forecast that ZAGG Inc will post 0.99 EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in ZAGG. AJO LP purchased a new position in shares of ZAGG during the second quarter worth about $3,715,000. EAM Investors LLC acquired a new stake in ZAGG in the third quarter valued at about $6,040,000. Ameriprise Financial Inc. lifted its position in shares of ZAGG by 1,068.2% during the 3rd quarter. Ameriprise Financial Inc. now owns 374,657 shares of the specialty retailer’s stock valued at $5,900,000 after acquiring an additional 342,585 shares during the period. Royce & Associates LP lifted its position in shares of ZAGG by 43.4% during the 2nd quarter. Royce & Associates LP now owns 576,154 shares of the specialty retailer’s stock valued at $4,984,000 after acquiring an additional 174,254 shares during the period. Finally, California Public Employees Retirement System lifted its position in shares of ZAGG by 134.5% during the 1st quarter. California Public Employees Retirement System now owns 197,900 shares of the specialty retailer’s stock valued at $1,416,000 after acquiring an additional 113,500 shares during the period. 83.13% of the stock is currently owned by hedge funds and other institutional investors.
ZAGG has been the topic of a number of research reports. Zacks Investment Research upgraded ZAGG from a “hold” rating to a “strong-buy” rating and set a $20.00 price target on the stock in a research note on Thursday, October 26th. Craig Hallum reiterated a “buy” rating and issued a $23.00 price objective (up from $16.00) on shares of ZAGG in a research note on Thursday, October 19th. Roth Capital set a $17.00 target price on ZAGG and gave the company a “hold” rating in a report on Tuesday, October 17th. TheStreet raised ZAGG from a “c” rating to a “b-” rating in a report on Wednesday, November 1st. Finally, B. Riley set a $17.00 target price on ZAGG and gave the company a “hold” rating in a report on Monday, October 30th. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and two have given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $17.67.
ZAGG Inc (ZAGG) designs, produces and distributes professional product solutions for mobile devices, including screen protection (glass and film), keyboards for tablet computers and mobile devices, keyboard cases, earbuds, mobile power solutions, cables, and cases under the ZAGG and InvisibleShield brands.
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