Ziff Davis (NASDAQ:ZD) Upgraded by Zacks Research to “Hold” Rating

Zacks Research upgraded shares of Ziff Davis (NASDAQ:ZD) to a hold rating in a report released on Tuesday,Zacks reports.

A number of other equities analysts also recently weighed in on ZD. Weiss Ratings raised Ziff Davis from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, August 25th. JPMorgan Chase & Co. began coverage on shares of Ziff Davis in a report on Friday, September 11th. They set a “neutral” rating and a $60.00 target price for the company. Royal Bank Of Canada raised their target price on shares of Ziff Davis from $48.00 to $65.00 and gave the company an “outperform” rating in a research report on Monday, August 10th. Evercore reiterated an “outperform” rating and issued a $64.00 price target on shares of Ziff Davis in a research note on Monday, August 10th. Finally, Citigroup boosted their price target on shares of Ziff Davis from $48.00 to $59.00 and gave the stock a “neutral” rating in a research report on Monday, August 10th. Three analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Ziff Davis currently has an average rating of “Hold” and a consensus target price of $59.75.

Ziff Davis Price Performance

Shares of NASDAQ ZD opened at $58.75 on Tuesday. The firm has a market cap of $2.01 billion, a PE ratio of 3.32 and a beta of 1.09. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 0.32. Ziff Davis has a 1-year low of $22.45 and a 1-year high of $60.11. The company has a fifty day moving average price of $54.49 and a 200 day moving average price of $48.05.

Ziff Davis (NASDAQ:ZD) last released its quarterly earnings results on Thursday, August 6th. The technology company reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.22. The firm had revenue of $286.74 million for the quarter, compared to the consensus estimate of $286.10 million. Ziff Davis had a return on equity of 10.73% and a net margin of 48.57%.The company’s revenue for the quarter was down 18.7% on a year-over-year basis. During the same quarter last year, the business posted $1.24 EPS. Research analysts predict that Ziff Davis will post 4.26 earnings per share for the current fiscal year.

Insider Activity at Ziff Davis

In related news, EVP Jeremy Rossen sold 3,819 shares of the firm’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $54.93, for a total value of $209,777.67. Following the completion of the transaction, the executive vice president directly owned 10,643 shares of the company’s stock, valued at approximately $584,619.99. This trade represents a 26.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director W. Brian Kretzmer sold 2,513 shares of the company’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $55.31, for a total transaction of $138,994.03. Following the sale, the director directly owned 20,000 shares in the company, valued at $1,106,200. This trade represents a 11.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 7,732 shares of company stock valued at $425,436. 3.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Ziff Davis

Several institutional investors and hedge funds have recently made changes to their positions in the company. Public Employees Retirement System of Ohio lifted its stake in Ziff Davis by 17.1% in the first quarter. Public Employees Retirement System of Ohio now owns 2,189 shares of the technology company’s stock worth $92,000 after purchasing an additional 319 shares during the last quarter. Hantz Financial Services Inc. grew its stake in shares of Ziff Davis by 212.2% in the fourth quarter. Hantz Financial Services Inc. now owns 868 shares of the technology company’s stock worth $31,000 after purchasing an additional 590 shares during the last quarter. Rockefeller Capital Management L.P. increased its holdings in Ziff Davis by 226.7% during the 4th quarter. Rockefeller Capital Management L.P. now owns 990 shares of the technology company’s stock valued at $35,000 after purchasing an additional 687 shares during the period. Allworth Financial LP bought a new position in Ziff Davis during the 2nd quarter valued at approximately $44,000. Finally, PNC Financial Services Group Inc. lifted its holdings in Ziff Davis by 25.4% in the 4th quarter. PNC Financial Services Group Inc. now owns 4,532 shares of the technology company’s stock worth $159,000 after buying an additional 918 shares during the period. Institutional investors and hedge funds own 99.76% of the company’s stock.

About Ziff Davis

Ziff Davis, Inc is a digital media and technology company that operates a portfolio of internet-based brands serving consumers and businesses. Its properties provide technology news and reviews, gaming and entertainment content, health and wellness information, shopping resources, and specialized business media.

The company’s brands include PCMag, IGN, Mashable, Lifehacker, RetailMeNot, Humble Bundle, Spiceworks, Ookla and Speedtest, among others. Ziff Davis also offers cybersecurity, marketing technology and consumer subscription services, including products and platforms designed to support privacy, online security, connectivity testing and digital engagement.

Ziff Davis traces its roots to the publishing company founded by William B.