Ziff Davis, Inc. $ZD Stock Sold by Corbyn Investment Management Inc. MD

Corbyn Investment Management Inc. MD lessened its stake in Ziff Davis, Inc. (NASDAQ:ZD) by 42.7% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 37,218 shares of the technology company’s stock after selling 27,691 shares during the period. Corbyn Investment Management Inc. MD’s holdings in Ziff Davis were worth $2,110,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the company. Allworth Financial LP acquired a new stake in shares of Ziff Davis during the second quarter worth about $44,000. Rockefeller Capital Management L.P. lifted its holdings in shares of Ziff Davis by 226.7% in 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 last quarter. Integrated Wealth Concepts LLC purchased a new stake in shares of Ziff Davis in the 2nd quarter valued at about $58,000. Nykredit A S acquired a new stake in shares of Ziff Davis in the 2nd quarter valued at about $68,000. Finally, Public Employees Retirement System of Ohio boosted its position in shares of Ziff Davis by 17.1% in the 1st quarter. Public Employees Retirement System of Ohio now owns 2,189 shares of the technology company’s stock valued at $92,000 after purchasing an additional 319 shares during the period. Hedge funds and other institutional investors own 99.76% of the company’s stock.

Wall Street Analysts Forecast Growth

ZD has been the topic of a number of research reports. Evercore restated an “outperform” rating and set a $64.00 price target on shares of Ziff Davis in a research note on Monday, August 10th. Yorkville Ives started coverage on shares of Ziff Davis in a research report on Wednesday, October 7th. They issued an “outperform” rating and a $68.00 price objective for the company. Susquehanna boosted their target price on shares of Ziff Davis from $60.00 to $75.00 and gave the stock a “positive” rating in a research report on Monday, August 10th. UBS Group increased their price target on shares of Ziff Davis from $30.00 to $59.00 and gave the company a “neutral” rating in a report on Wednesday, August 12th. Finally, JPMorgan Chase & Co. initiated coverage on shares of Ziff Davis in a research note on Friday, September 11th. They issued a “neutral” rating and a $60.00 price objective for the company. Four investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $60.67.

Insider Buying and Selling

In other Ziff Davis news, Director W. Brian Kretzmer sold 2,513 shares of the company’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $55.31, for a total value of $138,994.03. Following the transaction, the director directly owned 20,000 shares in the company, valued at approximately $1,106,200. This represents a 11.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Jeremy Rossen sold 3,819 shares of the firm’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $54.93, for a total transaction of $209,777.67. Following the sale, the executive vice president directly owned 10,643 shares in the company, valued at $584,619.99. This represents a 26.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 7,732 shares of company stock worth $425,436. 3.40% of the stock is owned by corporate insiders.

Ziff Davis Stock Performance

NASDAQ ZD opened at $56.75 on Thursday. Ziff Davis, Inc. has a fifty-two week low of $22.45 and a fifty-two week high of $60.48. The stock has a market cap of $1.95 billion, a price-to-earnings ratio of 3.21 and a beta of 1.10. The business has a fifty day moving average of $56.44 and a 200-day moving average of $47.56. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 0.32.

Ziff Davis (NASDAQ:ZD) last issued its quarterly earnings data 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 business 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 business’s revenue was down 18.7% on a year-over-year basis. During the same period in the prior year, the business earned $1.24 earnings per share. As a group, analysts predict that Ziff Davis, Inc. will post 4.41 earnings per share for the current fiscal year.

Ziff Davis Profile

Ziff Davis, Inc is a digital media and technology company that operates a portfolio of online brands serving consumers, technology professionals, businesses and advertisers. Its properties cover technology, gaming and entertainment, shopping, health and wellness, and related digital services.

The company’s brands include PCMag, Mashable, IGN, Humble Bundle, RetailMeNot, Spiceworks, Ookla and its Speedtest and Downdetector services, as well as health and wellness publications and platforms operated through its Everyday Health Group.