J2 Global (JCOM) Lowered to “Sell” at BidaskClub

J2 Global (NASDAQ:JCOM) was downgraded by investment analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday.

Several other research firms have also recently commented on JCOM. Citigroup reduced their target price on J2 Global from $88.00 to $86.00 and set a “neutral” rating for the company in a research report on Monday, August 13th. Robert W. Baird restated a “buy” rating and set a $92.00 target price on shares of J2 Global in a research report on Monday, August 13th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $92.67.

NASDAQ:JCOM opened at $76.00 on Tuesday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 2.17 and a current ratio of 2.17. J2 Global has a 52-week low of $70.27 and a 52-week high of $91.58. The firm has a market cap of $4.08 billion, a P/E ratio of 14.05, a P/E/G ratio of 1.79 and a beta of 0.89.

J2 Global (NASDAQ:JCOM) last released its quarterly earnings data on Thursday, August 9th. The technology company reported $1.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.44 by $0.06. J2 Global had a return on equity of 26.39% and a net margin of 11.19%. The company had revenue of $287.89 million for the quarter, compared to analyst estimates of $299.59 million. During the same period in the previous year, the company posted $1.33 EPS. The firm’s revenue for the quarter was up 5.4% compared to the same quarter last year. Research analysts forecast that J2 Global will post 5.79 earnings per share for the current year.

In other news, CEO Vivek Shah sold 3,000 shares of the company’s stock in a transaction dated Monday, July 16th. The stock was sold at an average price of $87.81, for a total value of $263,430.00. Following the completion of the transaction, the chief executive officer now directly owns 726,830 shares in the company, valued at approximately $63,822,942.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Jeremy Rossen sold 2,457 shares of the company’s stock in a transaction dated Tuesday, August 21st. The stock was sold at an average price of $81.17, for a total value of $199,434.69. Following the completion of the transaction, the vice president now owns 30,715 shares of the company’s stock, valued at $2,493,136.55. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 12,509 shares of company stock valued at $1,042,107. 5.97% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Northern Trust Corp boosted its holdings in shares of J2 Global by 2.0% in the 2nd quarter. Northern Trust Corp now owns 779,347 shares of the technology company’s stock worth $67,499,000 after purchasing an additional 15,330 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of J2 Global by 3.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 789,890 shares of the technology company’s stock worth $68,412,000 after purchasing an additional 27,483 shares in the last quarter. Public Employees Retirement System of Ohio boosted its holdings in shares of J2 Global by 6.7% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 55,627 shares of the technology company’s stock worth $4,818,000 after purchasing an additional 3,482 shares in the last quarter. Verition Fund Management LLC purchased a new position in shares of J2 Global in the 2nd quarter worth about $727,000. Finally, Advisors Asset Management Inc. boosted its holdings in shares of J2 Global by 1,169.0% in the 2nd quarter. Advisors Asset Management Inc. now owns 27,728 shares of the technology company’s stock worth $175,000 after purchasing an additional 25,543 shares in the last quarter. Hedge funds and other institutional investors own 99.75% of the company’s stock.

About J2 Global

j2 Global, Inc, together with its subsidiaries, engages in the provision of Internet services worldwide. It operates through two segments, Cloud Services and Digital Media. The Cloud Services segment offers cloud services to sole proprietors, small to medium-sized businesses and enterprises, and government organizations.

Further Reading: Hedge Funds

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