Zedge, Inc. (NYSEAMERICAN:ZDGE) Sees Significant Decrease in Short Interest

Zedge, Inc. (NYSEAMERICAN:ZDGE) was the target of a significant decrease in short interest during the month of January. As of January 15th, there was short interest totaling 195,447 shares, a decrease of 37.9% from the December 31st total of 314,591 shares. Based on an average daily volume of 96,900 shares, the short-interest ratio is currently 2.0 days. Currently, 2.0% of the shares of the stock are sold short. Currently, 2.0% of the shares of the stock are sold short. Based on an average daily volume of 96,900 shares, the short-interest ratio is currently 2.0 days.

Institutional Investors Weigh In On Zedge

Several large investors have recently bought and sold shares of ZDGE. Squarepoint Ops LLC purchased a new stake in shares of Zedge in the 3rd quarter valued at approximately $37,000. Raymond James Financial Inc. acquired a new stake in Zedge during the 2nd quarter worth $40,000. Bailard Inc. purchased a new stake in Zedge in the 2nd quarter valued at $47,000. Arrowstreet Capital Limited Partnership purchased a new stake in Zedge during the 3rd quarter valued at approximately $87,000. Finally, Corsair Capital Management L.P. acquired a new position in Zedge in the 2nd quarter valued at $128,000. 29.37% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, UBS Group set a $6.00 target price on Zedge in a report on Monday, December 15th.

Zedge Stock Performance

Zedge stock traded down $0.08 during mid-day trading on Friday, reaching $3.11. 78,169 shares of the company were exchanged, compared to its average volume of 78,389. Zedge has a 12-month low of $1.73 and a 12-month high of $4.89. The business has a fifty day moving average of $3.13 and a 200 day moving average of $3.20. The firm has a market cap of $38.81 million, a P/E ratio of -34.56 and a beta of 1.37.

Zedge Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 10th. Investors of record on Friday, January 30th will be given a dividend of $0.016 per share. The ex-dividend date is Friday, January 30th. This represents a $0.06 dividend on an annualized basis and a yield of 2.1%. Zedge’s payout ratio is currently -8.96%.

About Zedge

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.