Zagg Inc. (NASDAQ:ZAGG) shares were down 3.4% on Thursday . The stock traded as low as $5.06 and last traded at $5.06, with a volume of 143,365 shares. The stock had previously closed at $5.24.

Several research analysts have recently weighed in on ZAGG shares. Wunderlich lowered their price objective on shares of Zagg from $13.00 to $10.00 and set a “buy” rating on the stock in a research note on Wednesday, May 11th. Zacks Investment Research lowered shares of Zagg from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 30th. Finally, Roth Capital restated a “hold” rating on shares of Zagg in a research note on Wednesday, May 18th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $9.44.

The company has a 50 day moving average of $5.22 and a 200 day moving average of $8.15. The company has a market capitalization of $142.82 million and a price-to-earnings ratio of 15.92.

Zagg (NASDAQ:ZAGG) last issued its earnings results on Tuesday, May 10th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.02 by $0.05. During the same quarter in the previous year, the company posted $0.17 earnings per share. The company had revenue of $62.40 million for the quarter, compared to analyst estimates of $71.07 million. The firm’s quarterly revenue was up 9.1% compared to the same quarter last year. On average, analysts forecast that Zagg Inc. will post $0.48 earnings per share for the current fiscal year.

In other Zagg news, Director E Todd Heiner acquired 37,865 shares of the company’s stock in a transaction on Thursday, May 19th. The shares were purchased at an average cost of $5.25 per share, with a total value of $198,791.25. Following the completion of the purchase, the director now owns 92,308 shares of the company’s stock, valued at $484,617. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Bradley J. Holiday acquired 7,560 shares of the company’s stock in a transaction on Thursday, May 19th. The stock was acquired at an average cost of $5.24 per share, for a total transaction of $39,614.40. Following the completion of the purchase, the chief financial officer now directly owns 76,440 shares of the company’s stock, valued at approximately $400,545.60. The disclosure for this purchase can be found here.

Other hedge funds and institutional investors have added to or reduced their stakes in the company. Engineers Gate Manager LP acquired a new position in Zagg during the fourth quarter worth $1,174,000. EAM Investors LLC acquired a new position in Zagg during the fourth quarter worth $2,473,000. Morgan Stanley raised its position in Zagg by 322.2% in the fourth quarter. Morgan Stanley now owns 239,573 shares of the company’s stock worth $2,620,000 after buying an additional 182,823 shares during the period. Cornerstone Capital Management Holdings LLC. raised its position in Zagg by 2.2% in the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 272,717 shares of the company’s stock worth $2,984,000 after buying an additional 5,917 shares during the period. Finally, Opus Capital Group LLC acquired a new position in Zagg during the fourth quarter worth $3,375,000.

ZAGG Inc (ZAGG) designs, produces and distributes professional product solutions for mobile devices, including screen protection (glass and film), keyboards for tablet computers and mobile devices, keyboard cases, earbuds, mobile power solutions, cables, and cases under the ZAGG and InvisibleShield brands.

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