Zedge (NYSEAMERICAN:ZDGE) Shares Cross Below 50-Day Moving Average – Should You Sell?

Zedge, Inc. (NYSEAMERICAN:ZDGE)’s share price passed below its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $3.05 and traded as low as $2.60. Zedge shares last traded at $2.75, with a volume of 90,043 shares traded.

Zedge Stock Performance

The stock has a 50-day moving average of $3.05 and a two-hundred day moving average of $3.20. The company has a market cap of $34.07 million, a P/E ratio of -16.06 and a beta of 1.51.

Zedge Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 7th. Investors of record on Friday, October 24th were issued a $0.016 dividend. This represents a $0.06 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date was Friday, October 24th. Zedge’s payout ratio is presently -8.96%.

Institutional Investors Weigh In On Zedge

A number of large investors have recently made changes to their positions in ZDGE. Bailard Inc. increased its position in shares of Zedge by 238.5% during the 3rd quarter. Bailard Inc. now owns 39,763 shares of the company’s stock valued at $116,000 after purchasing an additional 28,016 shares during the last quarter. Welch Group LLC increased its holdings in Zedge by 274.9% during the third quarter. Welch Group LLC now owns 45,671 shares of the company’s stock valued at $133,000 after buying an additional 33,488 shares during the last quarter. Raymond James Financial Inc. bought a new position in Zedge in the second quarter worth approximately $40,000. NewEdge Advisors LLC bought a new position in Zedge in the second quarter worth approximately $191,000. Finally, Marshall Wace LLP purchased a new position in shares of Zedge during the 2nd quarter worth $331,000. 29.37% of the stock is currently owned by institutional investors.

About Zedge

Zedge, Inc builds digital marketplaces and competitive games around content that people use to express themselves. It offers the Zedge Ringtones and Wallpapers app, a freemium digital content marketplace that provides a wide array of mobile personalization content, including mobile phone wallpapers, video wallpapers, ringtones, and notification sounds.