Ziff Davis (NASDAQ:ZD) Reaches New 12-Month High – Still a Buy?

Ziff Davis, Inc. (NASDAQ:ZD) hit a new 52-week high on Monday . The company traded as high as $54.98 and last traded at $53.9650, with a volume of 21875 shares traded. The stock had previously closed at $53.08.

Wall Street Analyst Weigh In

Several analysts have commented on ZD shares. Royal Bank Of Canada raised their target price on shares of Ziff Davis from $40.00 to $48.00 and gave the stock an “outperform” rating in a report on Monday, May 11th. Evercore reaffirmed an “outperform” rating and set a $61.00 price objective on shares of Ziff Davis in a research report on Tuesday, May 12th. Susquehanna lifted their target price on Ziff Davis from $45.00 to $60.00 and gave the company a “positive” rating in a research report on Tuesday, May 5th. Weiss Ratings raised Ziff Davis from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, June 1st. Finally, Zacks Research lowered shares of Ziff Davis from a “hold” rating to a “strong sell” rating in a research report on Wednesday, May 6th. Three research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $47.25.

Ziff Davis Stock Performance

The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.42. The stock has a 50 day simple moving average of $49.79 and a two-hundred day simple moving average of $43.39. The stock has a market capitalization of $2.04 billion, a P/E ratio of 49.01 and a beta of 1.08.

Ziff Davis (NASDAQ:ZD) last announced its quarterly earnings data on Thursday, May 7th. The technology company reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.01. The company had revenue of $267.64 million for the quarter, compared to analysts’ expectations of $264.32 million. Ziff Davis had a return on equity of 12.17% and a net margin of 3.26%.The business’s revenue was down 1.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.14 EPS.

Insiders Place Their Bets

In other news, EVP Jeremy Rossen sold 8,000 shares of the business’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $47.00, for a total transaction of $376,000.00. Following the transaction, the executive vice president directly owned 14,462 shares in the company, valued at $679,714. The trade was a 35.62% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kirk P. Mcdonald sold 1,075 shares of the business’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $46.65, for a total transaction of $50,148.75. Following the transaction, the director owned 13,468 shares in the company, valued at $628,282.20. This represents a 7.39% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 31,422 shares of company stock valued at $1,468,864. 3.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Ziff Davis

Hedge funds and other institutional investors have recently bought and sold shares of the business. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Ziff Davis by 2.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 160,656 shares of the technology company’s stock valued at $6,037,000 after buying an additional 3,696 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Ziff Davis by 1.3% during the 2nd quarter. Invesco Ltd. now owns 188,595 shares of the technology company’s stock worth $5,709,000 after acquiring an additional 2,347 shares during the last quarter. First Trust Advisors LP raised its stake in Ziff Davis by 46.2% in the 2nd quarter. First Trust Advisors LP now owns 100,549 shares of the technology company’s stock valued at $3,044,000 after acquiring an additional 31,765 shares during the period. Jump Financial LLC bought a new stake in Ziff Davis in the 2nd quarter valued at $927,000. Finally, Cerity Partners LLC acquired a new stake in Ziff Davis during the 2nd quarter valued at $380,000. Institutional investors own 99.76% of the company’s stock.

Ziff Davis Company Profile

Ziff Davis, Inc is a digital media and internet company that operates a diverse portfolio of online brands, subscription-based services and performance marketing platforms. The company specializes in technology publishing and digital marketing solutions, offering content, reviews and insights tailored to consumer and enterprise audiences. Ziff Davis’s flagship media properties include PCMag, which provides expert reviews and comparisons of consumer electronics and software, as well as IGN, a leading destination for gaming news, reviews and entertainment coverage.

Founded in 1927 by William B.