Ritholtz Wealth Management Makes New Investment in Ziff Davis, Inc. $ZD

Ritholtz Wealth Management purchased a new stake in shares of Ziff Davis, Inc. (NASDAQ:ZD) during the 1st quarter, Holdings Channel reports. The fund purchased 14,533 shares of the technology company’s stock, valued at approximately $610,000.

Other institutional investors have also added to or reduced their stakes in the company. Federated Hermes Inc. bought a new position in shares of Ziff Davis during the fourth quarter valued at approximately $25,000. Hantz Financial Services Inc. boosted its holdings in Ziff Davis by 212.2% during the 4th quarter. Hantz Financial Services Inc. now owns 868 shares of the technology company’s stock valued at $31,000 after acquiring an additional 590 shares during the period. NBC Securities Inc. boosted its holdings in Ziff Davis by 121.2% during the 4th quarter. NBC Securities Inc. now owns 885 shares of the technology company’s stock valued at $31,000 after acquiring an additional 485 shares during the period. GAMMA Investing LLC grew its position in Ziff Davis by 207.1% in the 4th quarter. GAMMA Investing LLC now owns 906 shares of the technology company’s stock valued at $32,000 after acquiring an additional 611 shares during the last quarter. Finally, Rockefeller Capital Management L.P. grew its position in Ziff Davis by 226.7% in the 4th quarter. Rockefeller Capital Management L.P. now owns 990 shares of the technology company’s stock valued at $35,000 after acquiring an additional 687 shares during the last quarter. Institutional investors own 99.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ZD. Evercore reissued an “outperform” rating and set a $61.00 target price on shares of Ziff Davis in a research note on Tuesday, May 12th. Barclays raised their price target on shares of Ziff Davis from $45.00 to $48.00 and gave the stock an “equal weight” rating in a research note on Monday, May 11th. Susquehanna lifted their price objective on shares of Ziff Davis from $45.00 to $60.00 and gave the company a “positive” rating in a report on Tuesday, May 5th. Zacks Research downgraded shares of Ziff Davis from a “hold” rating to a “strong sell” rating in a research note on Wednesday, May 6th. Finally, Weiss Ratings raised shares of Ziff Davis from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, June 1st. Three equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Ziff Davis currently has an average rating of “Hold” and a consensus price target of $47.25.

Ziff Davis Stock Performance

Shares of Ziff Davis stock opened at $52.37 on Wednesday. The firm has a market cap of $1.93 billion, a P/E ratio of 46.35 and a beta of 1.12. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.42. Ziff Davis, Inc. has a 12 month low of $22.45 and a 12 month high of $52.59. The stock’s fifty day moving average price is $45.39 and its 200-day moving average price is $40.33.

Ziff Davis (NASDAQ:ZD) last released its quarterly earnings data on Thursday, May 7th. The technology company reported $0.73 earnings per share 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 company had revenue of $267.64 million during the quarter, compared to analyst estimates of $264.32 million. During the same period in the prior year, the firm earned $1.14 earnings per share. The firm’s revenue for the quarter was down 1.9% compared to the same quarter last year. On average, equities research analysts expect that Ziff Davis, Inc. will post 4.08 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Kirk P. Mcdonald sold 1,075 shares of Ziff Davis stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $46.65, for a total transaction of $50,148.75. Following the transaction, the director directly owned 13,468 shares of the company’s stock, valued at $628,282.20. This trade represents a 7.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Bret Richter sold 18,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $46.88, for a total transaction of $843,840.00. Following the completion of the transaction, the chief financial officer directly owned 29,244 shares of the company’s stock, valued at $1,370,958.72. This trade represents a 38.10% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 31,422 shares of company stock worth $1,468,864. 3.40% of the stock is currently owned by corporate insiders.

About Ziff Davis

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.