Ziff Davis (NASDAQ:ZD) Stock Price Down 5.1% After Analyst Downgrade

Ziff Davis, Inc. (NASDAQ:ZD) shares fell 5.1% during mid-day trading on Wednesday after UBS Group lowered their price target on the stock from $65.00 to $56.00. UBS Group currently has a neutral rating on the stock. Ziff Davis traded as low as $45.15 and last traded at $45.09. 72,486 shares changed hands during trading, a decline of 78% from the average session volume of 322,511 shares. The stock had previously closed at $47.50.

A number of other equities analysts also recently issued reports on the company. Barclays raised their price objective on Ziff Davis from $44.00 to $61.00 and gave the stock an “equal weight” rating in a research report on Monday, November 11th. Citigroup lowered their price objective on Ziff Davis from $58.00 to $52.00 and set a “neutral” rating for the company in a research report on Wednesday. Finally, JPMorgan Chase & Co. lowered their price objective on Ziff Davis from $70.00 to $60.00 and set an “overweight” rating for the company in a research report on Wednesday. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $65.67.

Institutional Investors Weigh In On Ziff Davis

Several large investors have recently added to or reduced their stakes in ZD. Pacer Advisors Inc. grew its stake in Ziff Davis by 100,954.3% in the fourth quarter. Pacer Advisors Inc. now owns 1,267,221 shares of the technology company’s stock valued at $68,861,000 after acquiring an additional 1,265,967 shares during the period. Arrowstreet Capital Limited Partnership grew its stake in Ziff Davis by 369.7% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 434,779 shares of the technology company’s stock valued at $23,626,000 after acquiring an additional 342,207 shares during the period. Janus Henderson Group PLC grew its stake in Ziff Davis by 8.5% in the fourth quarter. Janus Henderson Group PLC now owns 3,487,495 shares of the technology company’s stock valued at $189,512,000 after acquiring an additional 272,895 shares during the period. Legal & General Group Plc grew its stake in Ziff Davis by 12.4% in the fourth quarter. Legal & General Group Plc now owns 2,425,947 shares of the technology company’s stock valued at $131,826,000 after acquiring an additional 267,436 shares during the period. Finally, CDAM UK Ltd grew its stake in Ziff Davis by 16.6% in the fourth quarter. CDAM UK Ltd now owns 1,492,860 shares of the technology company’s stock valued at $81,122,000 after acquiring an additional 213,071 shares during the period. Institutional investors and hedge funds own 99.76% of the company’s stock.

Ziff Davis Stock Down 9.5 %

The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.49. The stock has a 50 day simple moving average of $53.29 and a 200 day simple moving average of $51.34. The stock has a market cap of $1.84 billion, a price-to-earnings ratio of 36.43 and a beta of 1.36.

Ziff Davis Company Profile

Ziff Davis, Inc, together with its subsidiaries, operates as a digital media and internet company in the United States and internationally. The company offers PCMag, an online resource for laboratory-based product reviews, technology news, buying guides, and research papers; Mashable for publishing technology and culture content; Spiceworks Ziff Davis provides digital content of IT products and services; retailMeNot, a savings destination platform; Offers.com, a coupon and deals website; and event-based properties, including BlackFriday.com, TheBlackFriday.com, BestBlackFriday.com, and DealsofAmerica.com.