Sage Capital Advisors llc Trims Holdings in j2 Global, Inc. (JCOM)
Sage Capital Advisors llc reduced its holdings in shares of j2 Global, Inc. (NASDAQ:JCOM) by 13.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,403 shares of the technology company’s stock after selling 2,160 shares during the period. Sage Capital Advisors llc’s holdings in j2 Global were worth $1,064,000 at the end of the most recent quarter.
A number of other hedge funds have also made changes to their positions in the business. GSA Capital Partners LLP increased its stake in shares of j2 Global by 559.4% in the third quarter. GSA Capital Partners LLP now owns 15,720 shares of the technology company’s stock worth $1,161,000 after purchasing an additional 13,336 shares in the last quarter. Sterling Capital Management LLC increased its stake in shares of j2 Global by 3.7% in the third quarter. Sterling Capital Management LLC now owns 38,628 shares of the technology company’s stock worth $2,854,000 after purchasing an additional 1,395 shares in the last quarter. California Public Employees Retirement System increased its stake in shares of j2 Global by 2.9% in the third quarter. California Public Employees Retirement System now owns 113,495 shares of the technology company’s stock worth $8,385,000 after purchasing an additional 3,195 shares in the last quarter. Janney Montgomery Scott LLC increased its stake in shares of j2 Global by 11.2% in the third quarter. Janney Montgomery Scott LLC now owns 25,458 shares of the technology company’s stock worth $1,881,000 after purchasing an additional 2,574 shares in the last quarter. Finally, Cubist Systematic Strategies LLC increased its stake in shares of j2 Global by 67.6% in the third quarter. Cubist Systematic Strategies LLC now owns 22,730 shares of the technology company’s stock worth $1,679,000 after purchasing an additional 9,168 shares in the last quarter.
Several equities analysts recently weighed in on the stock. Robert W. Baird reaffirmed a “buy” rating and set a $94.00 target price on shares of j2 Global in a research note on Friday, September 1st. Zacks Investment Research raised shares of j2 Global from a “sell” rating to a “hold” rating in a research note on Wednesday, October 4th. BidaskClub cut shares of j2 Global from a “hold” rating to a “sell” rating in a research note on Thursday, December 7th. Finally, ValuEngine raised shares of j2 Global from a “hold” rating to a “buy” rating in a research note on Wednesday, October 11th. Two analysts have rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $101.75.
j2 Global (NASDAQ:JCOM) last released its quarterly earnings data on Thursday, November 2nd. The technology company reported $1.34 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.36 by ($0.02). j2 Global had a net margin of 12.60% and a return on equity of 26.43%. The business had revenue of $273.60 million for the quarter, compared to the consensus estimate of $272.84 million. During the same quarter last year, the business earned $1.25 EPS. j2 Global’s revenue for the quarter was up 30.2% compared to the same quarter last year. equities research analysts forecast that j2 Global, Inc. will post 5.35 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, December 5th. Stockholders of record on Friday, November 17th were issued a $0.395 dividend. This represents a $1.58 annualized dividend and a dividend yield of 2.10%. The ex-dividend date of this dividend was Thursday, November 16th. This is a positive change from j2 Global’s previous quarterly dividend of $0.39. j2 Global’s dividend payout ratio (DPR) is 58.52%.
In other news, VP Jeremy Rossen sold 2,514 shares of the firm’s stock in a transaction dated 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 sale, the vice president now owns 26,372 shares in the company, valued at approximately $1,952,846.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 5.15% of the stock is currently owned by company insiders.
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j2 Global 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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