Corient Private Wealth LP Makes New $2.98 Million Investment in Ziff Davis, Inc. $ZD

Corient Private Wealth LP bought a new position in Ziff Davis, Inc. (NASDAQ:ZD) in the 2nd quarter, HoldingsChannel reports. The fund bought 56,864 shares of the technology company’s stock, valued at approximately $2,978,000.

Other institutional investors have also made changes to their positions in the company. Jupiter Topco LLC acquired a new stake in shares of Ziff Davis during the 2nd quarter valued at approximately $187,893,000. Janus Henderson Group PLC increased its stake in Ziff Davis by 2.7% during the first quarter. Janus Henderson Group PLC now owns 3,526,329 shares of the technology company’s stock valued at $147,963,000 after purchasing an additional 92,496 shares during the last quarter. Pale Fire Capital SE increased its stake in Ziff Davis by 130.0% during the first quarter. Pale Fire Capital SE now owns 2,783,366 shares of the technology company’s stock valued at $116,790,000 after purchasing an additional 1,573,414 shares during the last quarter. Legal & General Group Plc bought a new position in shares of Ziff Davis in the 2nd quarter worth about $94,314,000. Finally, First Trust Advisors LP lifted its position in shares of Ziff Davis by 689.6% in the 1st quarter. First Trust Advisors LP now owns 974,591 shares of the technology company’s stock worth $40,894,000 after buying an additional 851,163 shares during the last quarter. 99.76% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, EVP Jeremy Rossen sold 3,819 shares of the stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $54.93, for a total value of $209,777.67. Following the completion of the transaction, the executive vice president directly owned 10,643 shares of the company’s stock, valued at $584,619.99. This represents a 26.41% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Kirk P. Mcdonald sold 1,075 shares of the firm’s stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $46.65, for a total value of $50,148.75. Following the completion of the sale, the director owned 13,468 shares in the company, valued at approximately $628,282.20. This represents a 7.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 34,807 shares of company stock valued at $1,695,424 in the last ninety days. Insiders own 3.40% of the company’s stock.

Ziff Davis Stock Performance

Shares of ZD opened at $55.24 on Wednesday. Ziff Davis, Inc. has a 1 year low of $22.45 and a 1 year high of $58.06. The company has a market cap of $1.89 billion, a price-to-earnings ratio of 3.13 and a beta of 1.09. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.16 and a current ratio of 2.16. The firm has a fifty day moving average of $53.40 and a 200-day moving average of $45.95.

Ziff Davis (NASDAQ:ZD) last issued its quarterly earnings data on Thursday, August 6th. The technology company reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.22. The firm had revenue of $286.74 million for the quarter, compared to the consensus estimate of $286.10 million. Ziff Davis had a net margin of 48.57% and a return on equity of 10.73%. Ziff Davis’s quarterly revenue was down 18.7% compared to the same quarter last year. During the same period last year, the firm posted $1.24 EPS.

Analyst Ratings Changes

ZD has been the subject of a number of recent research reports. Piper Sandler set a $48.00 price objective on shares of Ziff Davis in a research report on Monday, May 11th. Susquehanna raised their target price on shares of Ziff Davis from $60.00 to $75.00 and gave the stock a “positive” rating in a report on Monday, August 10th. UBS Group lifted their target price on Ziff Davis from $30.00 to $59.00 and gave the company a “neutral” rating in a research note on Wednesday, August 12th. Zacks Research lowered Ziff Davis from a “hold” rating to a “strong sell” rating in a report on Wednesday, May 6th. Finally, Barclays increased their price target on Ziff Davis from $45.00 to $48.00 and gave the stock an “equal weight” rating in a research report on Monday, May 11th. Three research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $56.62.

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.