Ziff Davis, Inc. (NASDAQ:ZD) Position Lifted by Brave Asset Management Inc.

Brave Asset Management Inc. boosted its position in Ziff Davis, Inc. (NASDAQ:ZDGet Rating) by 0.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 282,233 shares of the technology company’s stock after purchasing an additional 1,870 shares during the period. Ziff Davis comprises 9.4% of Brave Asset Management Inc.’s investment portfolio, making the stock its 2nd biggest position. Brave Asset Management Inc.’s holdings in Ziff Davis were worth $21,035,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Wedge Capital Management L L P NC acquired a new stake in Ziff Davis in the second quarter worth approximately $223,000. Amalgamated Bank bought a new position in Ziff Davis during the first quarter worth about $3,097,000. Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in shares of Ziff Davis in the first quarter valued at approximately $358,000. Teachers Retirement System of The State of Kentucky bought a new position in Ziff Davis in the first quarter valued at approximately $2,855,000. Finally, Bank of America Corp DE bought a new position in shares of Ziff Davis during the first quarter worth $29,040,000. Hedge funds and other institutional investors own 99.02% of the company’s stock.

Ziff Davis Price Performance

Shares of ZD traded down $0.46 during mid-day trading on Friday, hitting $71.23. The company’s stock had a trading volume of 9,679 shares, compared to its average volume of 263,564. The firm has a 50-day simple moving average of $79.96 and a 200 day simple moving average of $83.52. The firm has a market capitalization of $3.36 billion, a P/E ratio of 9.20 and a beta of 1.02. Ziff Davis, Inc. has a 1-year low of $68.42 and a 1-year high of $143.09. The company has a current ratio of 2.12, a quick ratio of 2.12 and a debt-to-equity ratio of 0.58.

Ziff Davis (NASDAQ:ZDGet Rating) last posted its earnings results on Tuesday, August 9th. The technology company reported $1.44 EPS for the quarter, beating the consensus estimate of $1.38 by $0.06. Ziff Davis had a return on equity of 18.69% and a net margin of 25.22%. The company had revenue of $337.30 million during the quarter, compared to analyst estimates of $348.66 million. During the same period in the prior year, the company earned $2.36 earnings per share. The business’s revenue was down 1.2% compared to the same quarter last year. Analysts predict that Ziff Davis, Inc. will post 6.16 EPS for the current fiscal year.

Insider Activity at Ziff Davis

In related news, Director Sarah Ann Fay purchased 1,162 shares of the firm’s stock in a transaction that occurred on Tuesday, August 16th. The shares were acquired at an average price of $86.49 per share, for a total transaction of $100,501.38. Following the purchase, the director now owns 11,070 shares in the company, valued at $957,444.30. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 4.50% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages recently commented on ZD. Susquehanna Bancshares decreased their price target on shares of Ziff Davis from $140.00 to $120.00 and set a “positive” rating on the stock in a research note on Thursday, August 11th. JMP Securities dropped their price objective on shares of Ziff Davis from $110.00 to $100.00 and set a “market outperform” rating on the stock in a research note on Thursday, August 11th. Susquehanna decreased their price objective on shares of Ziff Davis from $140.00 to $120.00 and set a “positive” rating for the company in a report on Thursday, August 11th. Royal Bank of Canada cut their price objective on shares of Ziff Davis from $125.00 to $110.00 and set an “outperform” rating for the company in a research report on Thursday, August 11th. Finally, Evercore ISI started coverage on shares of Ziff Davis in a research note on Tuesday. They issued an “outperform” rating and a $90.00 target price on the stock. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $104.29.

Ziff Davis Company Profile

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Ziff Davis, Inc, together with its subsidiaries, provides internet information and services in the United States, Canada, Ireland, and internationally. It operates in two segments, Digital Media, and Cybersecurity and Martech. The Digital Media segment operates a portfolio of web properties and apps, which include IGN, RetailMeNot, Mashable, PCMag, Humble Bundle, Speedtest, Offers, Black Friday, MedPageToday, Everyday Health, BabyCenter, and What to Expect, among others in the technology, shopping, entertainment, and health and wellness markets.

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Institutional Ownership by Quarter for Ziff Davis (NASDAQ:ZD)

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