Zillow Group Inc (NASDAQ:ZG) Sees Significant Decrease in Short Interest

Zillow Group Inc (NASDAQ:ZG) saw a significant drop in short interest during the month of June. As of June 30th, there was short interest totalling 3,328,900 shares, a drop of 10.5% from the May 30th total of 3,718,800 shares. Based on an average daily volume of 991,200 shares, the days-to-cover ratio is currently 3.4 days. Currently, 6.0% of the shares of the company are short sold.

Several equities research analysts recently issued reports on the stock. Jefferies Financial Group set a €20.00 ($23.26) target price on shares of ThyssenKrupp and gave the stock a “buy” rating in a report on Friday, May 10th. Cowen started coverage on shares of Kontoor Brands in a research note on Monday, April 8th. They set a “neutral” rating and a $7.50 price target on the stock. SunTrust Banks started coverage on shares of Zillow Group in a research note on Tuesday, July 9th. They set a “buy” rating and a $49.39 price target on the stock. ValuEngine upgraded shares of Zillow Group from a “hold” rating to a “buy” rating in a research note on Thursday. Finally, Bank of America reiterated a “hold” rating on shares of TELUS in a research note on Friday, May 10th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $45.46.

Several large investors have recently modified their holdings of the business. Nisa Investment Advisors LLC lifted its position in shares of Zillow Group by 5.8% in the 2nd quarter. Nisa Investment Advisors LLC now owns 8,150 shares of the technology company’s stock worth $373,000 after purchasing an additional 450 shares during the period. Hennessy Advisors Inc. purchased a new stake in shares of Zillow Group in the 2nd quarter worth approximately $320,000. Filament LLC lifted its position in shares of Zillow Group by 1.2% in the 2nd quarter. Filament LLC now owns 216,530 shares of the technology company’s stock worth $9,908,000 after purchasing an additional 2,567 shares during the period. Private Advisors LLC purchased a new stake in shares of Zillow Group in the 1st quarter worth approximately $824,000. Finally, Zevenbergen Capital Investments LLC lifted its position in shares of Zillow Group by 18.7% in the 1st quarter. Zevenbergen Capital Investments LLC now owns 13,515 shares of the technology company’s stock worth $462,000 after purchasing an additional 2,125 shares during the period. 24.15% of the stock is owned by institutional investors and hedge funds.

Shares of NASDAQ ZG opened at $49.91 on Friday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 3.98 and a current ratio of 4.73. The company has a market cap of $10.24 billion, a P/E ratio of -191.96 and a beta of 0.82. The company has a fifty day moving average of $45.05. Zillow Group has a 52-week low of $26.20 and a 52-week high of $64.66.

Zillow Group (NASDAQ:ZG) last announced its quarterly earnings results on Thursday, May 9th. The technology company reported ($0.33) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.41) by $0.08. Zillow Group had a negative net margin of 11.35% and a negative return on equity of 3.18%. The company had revenue of $454.10 million for the quarter, compared to the consensus estimate of $432.09 million. During the same period in the previous year, the firm posted $0.07 EPS. Zillow Group’s revenue for the quarter was up 51.4% compared to the same quarter last year. As a group, equities analysts anticipate that Zillow Group will post -1.62 earnings per share for the current fiscal year.

Zillow Group Company Profile

Zillow Group, Inc operates real estate and home-related brands on mobile and the Web in the United States. The company offers a portfolio of brands and products to empowering consumers with unparalleled data, inspiration, and knowledge around homes and connecting them with real estate professionals. Its brands focus on various stages of the home lifecycle, including renting, buying, selling, and financing.

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