Ziff Davis (NASDAQ:ZD) Director Sells $138,994.03 in Stock

Ziff Davis, Inc. (NASDAQ:ZD) Director W Brian Kretzmer sold 2,513 shares of the firm’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $55.31, for a total value of $138,994.03. Following the completion of the sale, the director directly owned 20,000 shares of the company’s stock, valued at $1,106,200. This represents a 11.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Ziff Davis Stock Up 1.2%

Shares of NASDAQ ZD opened at $56.08 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.16 and a quick ratio of 2.16. The stock has a market capitalization of $1.92 billion, a PE ratio of 3.17 and a beta of 1.08. Ziff Davis, Inc. has a one year low of $22.45 and a one year high of $58.06. The business’s fifty day moving average price is $52.02 and its 200-day moving average price is $44.79.

Ziff Davis (NASDAQ:ZD) last announced its quarterly earnings data on Thursday, August 6th. The technology company reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.22. Ziff Davis had a return on equity of 10.73% and a net margin of 48.57%.The company had revenue of $286.74 million during the quarter, compared to analyst estimates of $286.10 million. During the same quarter last year, the firm posted $1.24 EPS. The firm’s revenue for the quarter was down 18.7% on a year-over-year basis.

Hedge Funds Weigh In On Ziff Davis

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Corsair Capital Management L.P. purchased a new position in shares of Ziff Davis during the first quarter worth about $1,888,000. Aldebaran Capital LLC bought a new position in shares of Ziff Davis in the first quarter worth approximately $1,728,000. NewGen Asset Management Ltd purchased a new stake in Ziff Davis in the first quarter valued at approximately $2,203,000. Brave Asset Management Inc. raised its stake in Ziff Davis by 11.9% in the first quarter. Brave Asset Management Inc. now owns 470,282 shares of the technology company’s stock valued at $19,733,000 after purchasing an additional 50,127 shares in the last quarter. Finally, Incline Global Management LLC lifted its position in Ziff Davis by 8.1% during the fourth quarter. Incline Global Management LLC now owns 401,933 shares of the technology company’s stock valued at $14,128,000 after purchasing an additional 30,212 shares during the last quarter. 99.76% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on ZD. Zacks Research lowered shares of Ziff Davis from a “hold” rating to a “strong sell” rating in a research report on Wednesday, May 6th. Weiss Ratings raised shares of Ziff Davis from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 11th. Piper Sandler set a $48.00 price objective on shares of Ziff Davis in a research note on Monday, May 11th. Susquehanna boosted their target price on shares of Ziff Davis from $60.00 to $75.00 and gave the company a “positive” rating in a report on Monday, August 10th. Finally, Evercore restated an “outperform” rating and set a $64.00 target price on shares of Ziff Davis in a research report on Monday, August 10th. Three equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $56.62.

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.