Short Interest in Zedge, Inc. (NYSEAMERICAN:ZDGE) Decreases By 17.1%

Zedge, Inc. (NYSEAMERICAN:ZDGE) was the recipient of a significant decrease in short interest in April. As of April 15th, there was short interest totaling 134,524 shares, a decrease of 17.1% from the March 31st total of 162,214 shares. Approximately 1.4% of the company’s stock are sold short. Based on an average daily trading volume, of 65,656 shares, the short-interest ratio is currently 2.0 days.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Arrowstreet Capital Limited Partnership bought a new position in Zedge during the third quarter valued at approximately $87,000. Goldman Sachs Group Inc. lifted its position in Zedge by 35.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 42,029 shares of the company’s stock valued at $138,000 after purchasing an additional 11,022 shares during the period. Citadel Advisors LLC lifted its position in Zedge by 304.7% during the third quarter. Citadel Advisors LLC now owns 49,520 shares of the company’s stock valued at $144,000 after purchasing an additional 37,285 shares during the period. HRT Financial LP bought a new position in Zedge during the fourth quarter valued at approximately $158,000. Finally, Marshall Wace LLP bought a new position in Zedge during the second quarter valued at approximately $331,000. Institutional investors own 29.37% of the company’s stock.

Zedge Stock Up 1.5%

Shares of NYSEAMERICAN ZDGE traded up $0.05 during midday trading on Friday, hitting $3.38. The stock had a trading volume of 91,269 shares, compared to its average volume of 69,647. The business’s 50 day moving average is $3.05 and its 200-day moving average is $3.06. The company has a market cap of $42.32 million, a P/E ratio of -22.53 and a beta of 1.31. Zedge has a 52 week low of $2.12 and a 52 week high of $4.89.

Zedge Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Monday, April 6th were paid a $0.02 dividend. This is a boost from Zedge’s previous quarterly dividend of $0.02. This represents a $0.08 annualized dividend and a dividend yield of 2.4%. The ex-dividend date was Monday, April 6th. Zedge’s payout ratio is currently -8.96%.

Zedge Company Profile

Zedge, Inc (NYSE American: ZDGE) is a digital media and technology company that operates a mobile personalization platform. Through its flagship Zedge app and website, the company provides consumers with a wide range of downloadable digital content, including wallpapers, ringtones, notification sounds, app icons and lock screens. The platform accommodates both free and premium content, enabling users to customize their smartphones and tablets according to personal taste.

The company’s platform features content created by independent designers and established media brands, and it supports multiple languages and regional preferences.