Ziff Davis (NASDAQ:ZD) Director Sells $50,148.75 in Stock

Ziff Davis, Inc. (NASDAQ:ZD) Director Kirk Mcdonald sold 1,075 shares of the company’s stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $46.65, for a total transaction of $50,148.75. Following the transaction, the director owned 13,468 shares of the company’s stock, valued at approximately $628,282.20. This represents a 7.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Ziff Davis Price Performance

NASDAQ:ZD traded up $0.79 on Monday, hitting $46.60. The company had a trading volume of 487,351 shares, compared to its average volume of 855,974. Ziff Davis, Inc. has a 52 week low of $22.45 and a 52 week high of $50.55. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.42. The stock has a market capitalization of $1.72 billion, a price-to-earnings ratio of 41.24 and a beta of 1.12. The firm has a 50 day moving average of $44.25 and a two-hundred day moving average of $38.65.

Ziff Davis (NASDAQ:ZD) last posted its earnings results 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. The firm had revenue of $267.64 million for the quarter, compared to analysts’ expectations of $264.32 million. Ziff Davis had a net margin of 3.26% and a return on equity of 12.17%. The company’s revenue was down 1.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.14 earnings per share. On average, research analysts anticipate that Ziff Davis, Inc. will post 4.08 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Zacks Research lowered Ziff Davis from a “hold” rating to a “strong sell” rating in a research report on Wednesday, May 6th. Evercore reissued an “outperform” rating and set a $61.00 price target on shares of Ziff Davis in a research note on Tuesday, May 12th. Royal Bank Of Canada lifted their target price on shares of Ziff Davis from $40.00 to $48.00 and gave the stock an “outperform” rating in a research report on Monday, May 11th. Weiss Ratings upgraded shares of Ziff Davis from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, June 1st. Finally, Citigroup lifted their target price on shares of Ziff Davis from $29.00 to $48.00 and gave the stock a “neutral” rating in a research report on Friday, March 6th. Three investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $47.25.

Institutional Investors Weigh In On Ziff Davis

Several hedge funds have recently added to or reduced their stakes in ZD. Pale Fire Capital SE lifted its stake in shares of Ziff Davis by 130.0% in the 1st quarter. Pale Fire Capital SE now owns 2,783,366 shares of the technology company’s stock valued at $116,790,000 after purchasing an additional 1,573,414 shares during the period. First Trust Advisors LP grew its stake in Ziff Davis by 689.6% during the first quarter. First Trust Advisors LP now owns 974,591 shares of the technology company’s stock worth $40,894,000 after purchasing an additional 851,163 shares during the period. Goldman Sachs Group Inc. increased its holdings in Ziff Davis by 260.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 597,573 shares of the technology company’s stock worth $21,005,000 after purchasing an additional 431,828 shares in the last quarter. LSV Asset Management increased its holdings in Ziff Davis by 75.6% in the third quarter. LSV Asset Management now owns 772,700 shares of the technology company’s stock worth $29,440,000 after purchasing an additional 332,674 shares in the last quarter. Finally, Invenomic Capital Management LP lifted its stake in Ziff Davis by 86.0% in the third quarter. Invenomic Capital Management LP now owns 408,449 shares of the technology company’s stock valued at $15,562,000 after buying an additional 188,844 shares during the period. 99.76% of the stock is currently owned by institutional investors and hedge funds.

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.