Zagg Inc. (ZAGG) Sees Unusually-High Trading Volume
Zagg Inc. (NASDAQ:ZAGG) shares saw unusually-high trading volume on Wednesday . Approximately 1,218,431 shares traded hands during mid-day trading, an increase of 16% from the previous session’s volume of 1,049,015 shares.The stock last traded at $7.27 and had previously closed at $6.85.
ZAGG has been the subject of a number of analyst reports. Zacks Investment Research cut Zagg from a “hold” rating to a “sell” rating in a research report on Wednesday, May 11th. Roth Capital reaffirmed a “hold” rating on shares of Zagg in a research report on Wednesday, May 18th. Finally, Wunderlich reduced their price target on Zagg from $13.00 to $10.00 and set a “buy” rating for the company in a research report on Wednesday, May 11th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $8.69.
The firm has a 50-day moving average of $5.47 and a 200-day moving average of $7.82. The firm has a market capitalization of $203.83 million and a price-to-earnings ratio of 22.73.
Zagg (NASDAQ:ZAGG) last released its quarterly earnings results on Tuesday, May 10th. The company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by $0.05. The firm had revenue of $62.40 million for the quarter, compared to the consensus estimate of $71.07 million. The company’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same period last year, the firm posted $0.17 EPS. Equities 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 purchased 37,865 shares of the company’s stock in a transaction dated Thursday, May 19th. The stock was bought at an average cost of $5.25 per share, for a total transaction of $198,791.25. Following the completion of the transaction, the director now owns 92,308 shares in the company, valued at $484,617. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Bradley J. Holiday purchased 7,560 shares of the company’s stock in a transaction dated Thursday, May 19th. The stock was acquired at an average price of $5.24 per share, with a total value of $39,614.40. Following the completion of the transaction, the chief financial officer now 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 recently made changes to their positions in the company. Engineers Gate Manager LP purchased a new position in shares of Zagg during the fourth quarter worth about $1,174,000. Cornerstone Capital Management Holdings LLC. boosted its position in shares of 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. Russell Frank Co boosted its position in shares of Zagg by 59.1% in the fourth quarter. Russell Frank Co now owns 390,711 shares of the company’s stock worth $4,489,000 after buying an additional 145,164 shares during the period. New Amsterdam Partners LLC NY boosted its position in shares of Zagg by 0.4% in the fourth quarter. New Amsterdam Partners LLC NY now owns 470,664 shares of the company’s stock worth $5,149,000 after buying an additional 2,055 shares during the period. Finally, Wells Fargo & Company MN boosted its position in shares of Zagg by 4,168.8% in the fourth quarter. Wells Fargo & Company MN now owns 635,064 shares of the company’s stock worth $6,947,000 after buying an additional 620,187 shares during the period.
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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