Zedge, Inc. (NYSEAMERICAN:ZDGE) Short Interest Update

Zedge, Inc. (NYSEAMERICAN:ZDGE) was the recipient of a large decline in short interest during the month of June. As of June 30th, there was short interest totaling 38,035 shares, a decline of 47.0% from the June 15th total of 71,719 shares. Based on an average daily volume of 147,205 shares, the days-to-cover ratio is presently 0.3 days. Approximately 0.4% of the shares of the stock are short sold.

Analysts Set New Price Targets

Separately, Zacks Research raised Zedge to a “hold” rating in a report on Monday, June 15th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $6.00.

Zedge Stock Performance

NYSEAMERICAN ZDGE traded up $0.11 during trading hours on Wednesday, reaching $3.14. 25,051 shares of the company’s stock were exchanged, compared to its average volume of 102,462. The company has a market capitalization of $39.36 million, a price-to-earnings ratio of -34.85 and a beta of 1.20. Zedge has a one year low of $2.21 and a one year high of $4.89. The company’s 50-day moving average is $3.08 and its two-hundred day moving average is $3.16.

Zedge (NYSEAMERICAN:ZDGE) last released its earnings results on Thursday, June 11th. The company reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.02. The firm had revenue of $7.99 million during the quarter, compared to analysts’ expectations of $7.00 million. Zedge had a positive return on equity of 11.18% and a negative net margin of 3.62%. Research analysts predict that Zedge will post 0.31 earnings per share for the current fiscal year.

Zedge Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 22nd were given a dividend of $0.02 per share. The ex-dividend date of this dividend was Monday, June 22nd. This represents a $0.08 annualized dividend and a yield of 2.5%. Zedge’s dividend payout ratio is -11.94%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Squarepoint Ops LLC bought a new position in shares of Zedge in the third quarter valued at about $37,000. Raymond James Financial Inc. acquired a new position in Zedge in the 2nd quarter valued at $40,000. Arrowstreet Capital Limited Partnership bought a new stake in Zedge during the third quarter worth about $87,000. Goldman Sachs Group Inc. increased its stake in Zedge by 35.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 42,029 shares of the company’s stock valued at $138,000 after acquiring an additional 11,022 shares during the last quarter. Finally, Citadel Advisors LLC lifted its position in shares of Zedge by 304.7% during the 3rd quarter. Citadel Advisors LLC now owns 49,520 shares of the company’s stock worth $144,000 after buying an additional 37,285 shares during the last quarter. 29.37% of the stock is currently owned by institutional investors.

Zedge Company Profile

Zedge, Inc (NYSE American: ZDGE) is a digital media and technology company that operates a mobile personalization platform. Through its flagship Zedge app and website, the company provides consumers with a wide range of downloadable digital content, including wallpapers, ringtones, notification sounds, app icons and lock screens. The platform accommodates both free and premium content, enabling users to customize their smartphones and tablets according to personal taste.

The company’s platform features content created by independent designers and established media brands, and it supports multiple languages and regional preferences.