Par Capital Management Inc. purchased a new stake in shares of Zillow Group Inc (NASDAQ:Z) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 155,000 shares of the financial services provider’s stock, valued at approximately $7,190,000. Par Capital Management Inc. owned approximately 0.08% of Zillow Group at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of the company. Coastal Investment Advisors Inc. increased its holdings in Zillow Group by 177.0% in the 2nd quarter. Coastal Investment Advisors Inc. now owns 554 shares of the financial services provider’s stock worth $26,000 after buying an additional 354 shares in the last quarter. MUFG Americas Holdings Corp bought a new stake in shares of Zillow Group during the 2nd quarter valued at about $32,000. Kavar Capital Partners LLC bought a new stake in shares of Zillow Group during the 2nd quarter valued at about $87,000. Steward Partners Investment Advisory LLC bought a new stake in shares of Zillow Group during the 2nd quarter valued at about $99,000. Finally, Comerica Bank bought a new stake in shares of Zillow Group during the 2nd quarter valued at about $202,000. Hedge funds and other institutional investors own 69.23% of the company’s stock.
In other Zillow Group news, Director Spencer M. Rascoff sold 2,000 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $34.15, for a total value of $68,300.00. Following the completion of the sale, the director now directly owns 14,000 shares in the company, valued at approximately $478,100. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Jennifer Rock sold 3,782 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $35.91, for a total value of $135,811.62. Following the completion of the sale, the chief accounting officer now owns 35,105 shares of the company’s stock, valued at $1,260,620.55. The disclosure for this sale can be found here. Insiders sold a total of 136,441 shares of company stock worth $6,017,205 in the last ninety days. 19.87% of the stock is currently owned by corporate insiders.
A number of research analysts have recently weighed in on Z shares. ValuEngine raised Zillow Group from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. TheStreet cut Zillow Group from a “c-” rating to a “d+” rating in a research report on Wednesday, September 4th. BidaskClub cut Zillow Group from a “hold” rating to a “sell” rating in a research report on Saturday. Morgan Stanley lowered their price objective on Zillow Group from $39.00 to $37.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 8th. Finally, KeyCorp lowered their price objective on Zillow Group from $66.00 to $65.00 and set an “overweight” rating on the stock in a research report on Thursday, August 8th. Three analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $41.26.
Shares of Z traded down $1.45 during mid-day trading on Wednesday, hitting $30.76. 144,361 shares of the stock were exchanged, compared to its average volume of 2,790,164. Zillow Group Inc has a 52-week low of $26.38 and a 52-week high of $51.47. The firm has a 50-day moving average of $37.34 and a two-hundred day moving average of $40.17. The company has a quick ratio of 2.76, a current ratio of 3.67 and a debt-to-equity ratio of 0.28.
Zillow Group (NASDAQ:Z) last released its earnings results on Wednesday, August 7th. The financial services provider reported ($0.35) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.14) by ($0.21). The company had revenue of $599.58 million for the quarter. Zillow Group had a negative net margin of 13.49% and a negative return on equity of 5.12%.
About Zillow Group
Zillow Group, Inc operates real estate and home-related brands on mobile and the Web in the United States. The company offers a portfolio of brands and products to empowering consumers with unparalleled data, inspiration, and knowledge around homes and connecting them with real estate professionals. Its brands focus on various stages of the home lifecycle, including renting, buying, selling, and financing.
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