Russell Investments Group Ltd. Trims Position in Zagg Inc (ZAGG)

Russell Investments Group Ltd. lessened its position in shares of Zagg Inc (NASDAQ:ZAGG) by 7.6% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 138,312 shares of the specialty retailer’s stock after selling 11,372 shares during the quarter. Russell Investments Group Ltd. owned about 0.49% of Zagg worth $2,179,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in ZAGG. AJO LP purchased a new position in Zagg during the 2nd quarter worth approximately $3,715,000. Royce & Associates LP grew its stake in Zagg by 43.4% during the 2nd quarter. Royce & Associates LP now owns 576,154 shares of the specialty retailer’s stock worth $4,984,000 after buying an additional 174,254 shares during the last quarter. American Century Companies Inc. purchased a new position in Zagg during the 3rd quarter worth approximately $1,521,000. Wasatch Advisors Inc. grew its stake in Zagg by 7.3% during the 2nd quarter. Wasatch Advisors Inc. now owns 1,370,557 shares of the specialty retailer’s stock worth $11,855,000 after buying an additional 93,551 shares during the last quarter. Finally, PDT Partners LLC purchased a new position in Zagg during the 2nd quarter worth approximately $740,000. Hedge funds and other institutional investors own 82.75% of the company’s stock.

A number of analysts have weighed in on ZAGG shares. TheStreet raised Zagg from a “c” rating to a “b-” rating in a research report on Wednesday, November 1st. Zacks Investment Research raised Zagg from a “hold” rating to a “buy” rating and set a $21.00 price objective for the company in a research report on Saturday, January 6th. Craig Hallum set a $24.00 price objective on Zagg and gave the stock a “buy” rating in a research report on Wednesday, January 3rd. ValuEngine raised Zagg from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Finally, Northland Securities reaffirmed a “buy” rating and set a $23.00 price objective on shares of Zagg in a research report on Friday, December 1st. Two analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $19.17.

In other news, CEO Randall L. Hales sold 50,001 shares of the firm’s stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $19.16, for a total value of $958,019.16. Following the completion of the sale, the chief executive officer now directly owns 713,380 shares of the company’s stock, valued at approximately $13,668,360.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Brian Stech sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $18.08, for a total value of $361,600.00. The disclosure for this sale can be found here. Insiders sold a total of 99,830 shares of company stock valued at $1,903,425 over the last three months. Insiders own 4.20% of the company’s stock.

Zagg Inc (NASDAQ ZAGG) traded down $0.05 on Friday, hitting $18.55. The stock had a trading volume of 512,224 shares, compared to its average volume of 522,545. The company has a quick ratio of 0.68, a current ratio of 1.12 and a debt-to-equity ratio of 0.07. The firm has a market cap of $520.34, a PE ratio of 206.11, a P/E/G ratio of 2.88 and a beta of 0.93. Zagg Inc has a 1-year low of $5.90 and a 1-year high of $23.70.

Zagg (NASDAQ:ZAGG) last posted its quarterly earnings results on Wednesday, November 1st. The specialty retailer reported $0.34 EPS for the quarter, beating the consensus estimate of $0.32 by $0.02. The business had revenue of $134.40 million during the quarter, compared to analysts’ expectations of $128.23 million. Zagg had a return on equity of 6.59% and a net margin of 0.63%. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period last year, the firm earned $0.29 EPS. sell-side analysts expect that Zagg Inc will post 1 EPS for the current fiscal year.

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About Zagg

ZAGG Inc (ZAGG) designs, produces and distributes professional product solutions for mobile devices, including screen protection (glass and film), keyboards for tablet computers and mobile devices, keyboard cases, earbuds, mobile power solutions, cables, and cases under the ZAGG and InvisibleShield brands.

Institutional Ownership by Quarter for Zagg (NASDAQ:ZAGG)

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