Ziff Davis (NASDAQ:ZD) Sets New 52-Week Low Following Weak Earnings

Shares of Ziff Davis, Inc. (NASDAQ:ZD) reached a new 52-week low during mid-day trading on Tuesday following a weaker than expected earnings announcement. The company traded as low as $22.45 and last traded at $26.18, with a volume of 645657 shares traded. The stock had previously closed at $29.55.

The technology company reported $2.56 earnings per share for the quarter, missing the consensus estimate of $2.71 by ($0.15). Ziff Davis had a return on equity of 13.73% and a net margin of 7.62%.The company had revenue of $406.71 million for the quarter, compared to analysts’ expectations of $416.63 million. During the same quarter last year, the company earned $2.58 EPS. Ziff Davis’s revenue for the quarter was down 1.5% compared to the same quarter last year.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Citigroup dropped their price objective on Ziff Davis from $42.00 to $35.00 and set a “neutral” rating for the company in a report on Monday, November 10th. Wall Street Zen downgraded shares of Ziff Davis from a “buy” rating to a “hold” rating in a research note on Saturday, November 15th. UBS Group cut their target price on shares of Ziff Davis from $40.00 to $38.00 and set a “neutral” rating on the stock in a research note on Monday, November 10th. Barclays lowered their price target on Ziff Davis from $40.00 to $34.00 and set an “equal weight” rating for the company in a report on Monday, November 10th. Finally, Zacks Research upgraded Ziff Davis from a “strong sell” rating to a “hold” rating in a research note on Tuesday, January 6th. One analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $37.50.

Institutional Trading of Ziff Davis

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Federated Hermes Inc. acquired a new position in Ziff Davis in the 4th quarter valued at about $25,000. Hantz Financial Services Inc. grew its holdings in shares of Ziff Davis by 212.2% in the fourth quarter. Hantz Financial Services Inc. now owns 868 shares of the technology company’s stock valued at $31,000 after purchasing an additional 590 shares in the last quarter. NBC Securities Inc. increased its stake in Ziff Davis by 121.3% during the 4th quarter. NBC Securities Inc. now owns 885 shares of the technology company’s stock worth $31,000 after buying an additional 485 shares during the period. GAMMA Investing LLC lifted its holdings in Ziff Davis by 207.1% during the 4th quarter. GAMMA Investing LLC now owns 906 shares of the technology company’s stock worth $32,000 after buying an additional 611 shares in the last quarter. Finally, First Horizon Corp purchased a new position in Ziff Davis in the 3rd quarter valued at approximately $35,000. 99.76% of the stock is owned by institutional investors and hedge funds.

Ziff Davis Stock Down 12.9%

The firm has a market cap of $1.02 billion, a PE ratio of 10.21 and a beta of 1.46. The business has a 50-day moving average price of $35.11 and a two-hundred day moving average price of $35.53. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.48.

Ziff Davis Company Profile

Ziff Davis, Inc is a digital media and internet company that operates a diverse portfolio of online brands, subscription-based services and performance marketing platforms. The company specializes in technology publishing and digital marketing solutions, offering content, reviews and insights tailored to consumer and enterprise audiences. Ziff Davis’s flagship media properties include PCMag, which provides expert reviews and comparisons of consumer electronics and software, as well as IGN, a leading destination for gaming news, reviews and entertainment coverage.

Founded in 1927 by William B.