SRS Investment Management LLC lifted its holdings in Zillow Group Inc (NASDAQ:Z) by 35.4% during the second quarter, HoldingsChannel.com reports. The firm owned 5,960,740 shares of the financial services provider’s stock after purchasing an additional 1,556,872 shares during the period. Zillow Group accounts for 5.9% of SRS Investment Management LLC’s portfolio, making the stock its 5th biggest position. SRS Investment Management LLC’s holdings in Zillow Group were worth $276,519,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also recently modified their holdings of Z. Coastal Investment Advisors Inc. increased its holdings in Zillow Group by 177.0% during the second 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 during the last quarter. MUFG Americas Holdings Corp acquired a new position in shares of Zillow Group in the second quarter valued at $32,000. Kavar Capital Partners LLC acquired a new position in shares of Zillow Group in the second quarter valued at $87,000. Steward Partners Investment Advisory LLC acquired a new position in shares of Zillow Group in the second quarter valued at $99,000. Finally, Comerica Bank acquired a new position in shares of Zillow Group in the second quarter valued at $202,000. Institutional investors and hedge funds own 69.23% of the company’s stock.
In related news, Chairman Lloyd D. Frink sold 112,952 shares of the company’s stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $44.56, for a total transaction of $5,033,141.12. Following the completion of the sale, the chairman now owns 3,362,656 shares of the company’s stock, valued at $149,839,951.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Spencer M. Rascoff sold 2,000 shares of the company’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $37.06, for a total transaction of $74,120.00. Following the sale, the director now directly owns 14,000 shares of the company’s stock, valued at approximately $518,840. The disclosure for this sale can be found here. In the last three months, insiders sold 136,441 shares of company stock valued at $6,017,205. 19.87% of the stock is currently owned by company insiders.
Shares of Zillow Group stock traded down $0.20 during trading on Friday, reaching $30.54. The company’s stock had a trading volume of 79,287 shares, compared to its average volume of 2,781,248. The business’s 50-day moving average price is $36.62 and its 200-day moving average price is $40.06. Zillow Group Inc has a 52 week low of $26.38 and a 52 week high of $51.47. The company has a current ratio of 3.67, a quick ratio of 2.76 and a debt-to-equity ratio of 0.28.
Zillow Group (NASDAQ:Z) last announced its earnings results on Wednesday, August 7th. The financial services provider reported ($0.35) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.14) by ($0.21). The business had revenue of $599.58 million during the quarter. Zillow Group had a negative net margin of 13.49% and a negative return on equity of 5.12%.
Several equities analysts have commented on Z shares. KeyCorp decreased their price objective on shares of Zillow Group from $66.00 to $65.00 and set an “overweight” rating on the stock in a report on Thursday, August 8th. Standpoint Research downgraded shares of Zillow Group from a “buy” rating to a “hold” rating in a report on Tuesday, July 16th. BidaskClub downgraded shares of Zillow Group from a “hold” rating to a “sell” rating in a report on Saturday, September 14th. ValuEngine upgraded shares of Zillow Group from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. Finally, Morgan Stanley decreased their price objective on shares of Zillow Group from $39.00 to $37.00 and set an “equal weight” rating on the stock in a report on Thursday, August 8th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $41.26.
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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