Ziff Davis (NASDAQ:ZD) Sets New 52-Week High – Still a Buy?

Ziff Davis, Inc. (NASDAQ:ZD)’s stock price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $53.43 and last traded at $53.2550, with a volume of 199825 shares traded. The stock had previously closed at $52.43.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Royal Bank Of Canada lifted their price target on Ziff Davis from $40.00 to $48.00 and gave the company an “outperform” rating in a research report on Monday, May 11th. Evercore reaffirmed an “outperform” rating and set a $61.00 target price on shares of Ziff Davis in a report on Tuesday, May 12th. Susquehanna upped their price target on Ziff Davis from $45.00 to $60.00 and gave the company a “positive” rating in a research report on Tuesday, May 5th. Weiss Ratings raised shares of Ziff Davis from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, June 1st. Finally, Zacks Research downgraded shares of Ziff Davis from a “hold” rating to a “strong sell” rating in a report on Wednesday, May 6th. Three investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Ziff Davis presently has an average rating of “Hold” and an average target price of $47.25.

Ziff Davis Price Performance

The firm has a market capitalization of $1.97 billion, a P/E ratio of 47.29 and a beta of 1.08. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.66 and a current ratio of 1.66. The business has a 50 day simple moving average of $45.68 and a two-hundred day simple moving average of $40.67.

Ziff Davis (NASDAQ:ZD) last issued its quarterly earnings results on Thursday, May 7th. The technology company reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.01. Ziff Davis had a return on equity of 12.17% and a net margin of 3.26%.The firm had revenue of $267.64 million during the quarter, compared to the consensus estimate of $264.32 million. During the same quarter last year, the company posted $1.14 EPS. The company’s revenue for the quarter was down 1.9% on a year-over-year basis. On average, sell-side analysts expect that Ziff Davis, Inc. will post 4.08 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Bret Richter sold 18,000 shares of Ziff Davis stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $46.88, for a total transaction of $843,840.00. Following the completion of the sale, the chief financial officer directly owned 29,244 shares of the company’s stock, valued at approximately $1,370,958.72. The trade was a 38.10% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Jeremy Rossen sold 8,000 shares of the company’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $47.00, for a total transaction of $376,000.00. Following the completion of the transaction, the executive vice president owned 14,462 shares of the company’s stock, valued at $679,714. This trade represents a 35.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 31,422 shares of company stock valued at $1,468,864 in the last quarter. Corporate insiders own 3.40% of the company’s stock.

Institutional Investors Weigh In On Ziff Davis

Several hedge funds have recently added to or reduced their stakes in the company. Pale Fire Capital SE boosted its holdings in shares of Ziff Davis by 130.0% in the 1st quarter. Pale Fire Capital SE now owns 2,783,366 shares of the technology company’s stock worth $116,790,000 after purchasing an additional 1,573,414 shares in the last quarter. First Trust Advisors LP grew its holdings in shares of Ziff Davis by 689.6% during the 1st quarter. First Trust Advisors LP now owns 974,591 shares of the technology company’s stock valued at $40,894,000 after purchasing an additional 851,163 shares during the last quarter. Goldman Sachs Group Inc. raised its position in Ziff Davis by 260.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 597,573 shares of the technology company’s stock worth $21,005,000 after purchasing an additional 431,828 shares during the period. Invenomic Capital Management LP raised its position in Ziff Davis by 86.0% in the 3rd quarter. Invenomic Capital Management LP now owns 408,449 shares of the technology company’s stock worth $15,562,000 after purchasing an additional 188,844 shares during the period. Finally, AQR Capital Management LLC lifted its stake in Ziff Davis by 88.5% in the fourth quarter. AQR Capital Management LLC now owns 399,259 shares of the technology company’s stock worth $14,034,000 after purchasing an additional 187,431 shares during the last quarter. Institutional investors own 99.76% of the company’s stock.

About Ziff Davis

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.