Acadian Asset Management LLC Lowers Position in Zedge, Inc. (NYSEAMERICAN:ZDGE)

Acadian Asset Management LLC decreased its stake in shares of Zedge, Inc. (NYSEAMERICAN:ZDGE) by 32.9% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 50,269 shares of the company’s stock after selling 24,676 shares during the period. Acadian Asset Management LLC’s holdings in Zedge were worth $112,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of ZDGE. B. Riley Wealth Advisors Inc. boosted its stake in shares of Zedge by 53.5% in the 4th quarter. B. Riley Wealth Advisors Inc. now owns 89,516 shares of the company’s stock worth $158,000 after buying an additional 31,200 shares during the last quarter. Man Group plc grew its stake in Zedge by 56.0% in the 4th quarter. Man Group plc now owns 31,039 shares of the company’s stock valued at $55,000 after purchasing an additional 11,147 shares during the period. Two Sigma Advisers LP increased its position in shares of Zedge by 9.3% during the 3rd quarter. Two Sigma Advisers LP now owns 93,800 shares of the company’s stock valued at $221,000 after purchasing an additional 8,000 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Zedge by 4.3% during the 3rd quarter. Vanguard Group Inc. now owns 620,551 shares of the company’s stock worth $1,464,000 after purchasing an additional 25,312 shares during the period. Finally, Commonwealth Equity Services LLC boosted its holdings in shares of Zedge by 61.0% in the 3rd quarter. Commonwealth Equity Services LLC now owns 23,423 shares of the company’s stock worth $55,000 after buying an additional 8,875 shares during the last quarter. Institutional investors own 15.33% of the company’s stock.

Wall Street Analyst Weigh In

Separately, TheStreet lowered shares of Zedge from a “c-” rating to a “d+” rating in a research note on Thursday, October 26th.

Zedge Stock Performance

NYSEAMERICAN:ZDGE opened at $1.89 on Tuesday. Zedge, Inc. has a 1 year low of $1.62 and a 1 year high of $3.74. The company has a current ratio of 3.75, a quick ratio of 3.75 and a debt-to-equity ratio of 0.05. The firm has a market cap of $26.14 million, a price-to-earnings ratio of -4.30 and a beta of 1.16.

Zedge (NYSEAMERICAN:ZDGE) last announced its quarterly earnings results on Thursday, October 26th. The company reported $0.01 earnings per share for the quarter. Zedge had a positive return on equity of 6.40% and a negative net margin of 22.26%. The firm had revenue of $6.60 million for the quarter.

Zedge Profile

Zedge, Inc builds digital marketplaces and competitive games around content that people use to express themselves. It offers the Zedge Ringtones and Wallpapers app, a freemium digital content marketplace that provides a wide array of mobile personalization content, including mobile phone wallpapers, video wallpapers, ringtones, and notification sounds.