Ziff Davis (NASDAQ:ZD) Reaches New 52-Week High – Here’s What Happened

Ziff Davis, Inc. (NASDAQ:ZD) hit a new 52-week high during trading on Monday . The stock traded as high as $54.98 and last traded at $53.9650, with a volume of 21875 shares trading hands. The stock had previously closed at $53.08.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Royal Bank Of Canada raised their price target on Ziff Davis from $40.00 to $48.00 and gave the company an “outperform” rating in a research note on Monday, May 11th. Evercore reiterated an “outperform” rating and set a $61.00 price objective on shares of Ziff Davis in a research note on Tuesday, May 12th. Barclays increased their price objective on Ziff Davis from $45.00 to $48.00 and gave the company an “equal weight” rating in a report on Monday, May 11th. Weiss Ratings raised shares of Ziff Davis from a “sell (d+)” rating to a “hold (c-)” rating in a research note 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 analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Ziff Davis currently has an average rating of “Hold” and a consensus price target of $47.25.

Ziff Davis Price Performance

The business has a fifty day moving average of $49.37 and a two-hundred day moving average of $43.13. The firm has a market capitalization of $2.00 billion, a price-to-earnings ratio of 47.99 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.

Ziff Davis (NASDAQ:ZD) last released its quarterly earnings data on Thursday, May 7th. The technology company reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.01. Ziff Davis had a net margin of 3.26% and a return on equity of 12.17%. The firm had revenue of $267.64 million during the quarter, compared to analysts’ expectations of $264.32 million. During the same period in the previous year, the business posted $1.14 earnings per share. The company’s revenue for the quarter was down 1.9% compared to the same quarter last year.

Insider Buying and Selling

In related news, Director Kirk P. Mcdonald sold 1,075 shares of Ziff Davis stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $46.65, for a total transaction of $50,148.75. Following the completion of the sale, the director owned 13,468 shares of the company’s stock, valued at approximately $628,282.20. The trade was a 7.39% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Jeremy Rossen sold 8,000 shares of the company’s stock in a transaction dated Friday, June 5th. The shares were 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 in the company, valued at approximately $679,714. This trade represents a 35.62% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 31,422 shares of company stock valued at $1,468,864. Company insiders own 3.40% of the company’s stock.

Hedge Funds Weigh In On Ziff Davis

A number of large investors have recently made changes to their positions in ZD. Federated Hermes Inc. acquired a new stake in Ziff Davis during the 4th quarter worth approximately $25,000. NBC Securities Inc. grew its holdings in Ziff Davis by 121.2% in the 4th quarter. NBC Securities Inc. now owns 885 shares of the technology company’s stock valued at $31,000 after buying an additional 485 shares in the last quarter. Hantz Financial Services Inc. grew its holdings in Ziff Davis by 212.2% in the 4th quarter. Hantz Financial Services Inc. now owns 868 shares of the technology company’s stock valued at $31,000 after buying an additional 590 shares in the last quarter. Rockefeller Capital Management L.P. increased its position in Ziff Davis by 226.7% during the 4th quarter. Rockefeller Capital Management L.P. now owns 990 shares of the technology company’s stock worth $35,000 after buying an additional 687 shares during the period. Finally, TD Private Client Wealth LLC bought a new position in Ziff Davis during the 4th quarter worth $52,000. Institutional investors own 99.76% of the company’s stock.

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.