Genesee Valley Trust Co. Boosts Position in j2 Global Inc. (JCOM)
Genesee Valley Trust Co. increased its position in shares of j2 Global Inc. (NASDAQ:JCOM) by 9.6% during the second quarter, Holdings Channel reports. The institutional investor owned 9,833 shares of the company’s stock after buying an additional 864 shares during the period. Genesee Valley Trust Co.’s holdings in j2 Global were worth $621,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC boosted its stake in shares of j2 Global by 0.3% in the second quarter. Nisa Investment Advisors LLC now owns 31,400 shares of the company’s stock worth $1,984,000 after buying an additional 100 shares during the last quarter. Mount Lucas Management LP boosted its stake in shares of j2 Global by 10.7% in the first quarter. Mount Lucas Management LP now owns 3,747 shares of the company’s stock worth $231,000 after buying an additional 363 shares during the last quarter. Capstone Asset Management Co. boosted its stake in shares of j2 Global by 19.7% in the second quarter. Capstone Asset Management Co. now owns 6,143 shares of the company’s stock worth $388,000 after buying an additional 1,010 shares during the last quarter. Teachers Advisors Inc. boosted its stake in shares of j2 Global by 1.0% in the first quarter. Teachers Advisors Inc. now owns 106,624 shares of the company’s stock worth $6,566,000 after buying an additional 1,053 shares during the last quarter. Finally, LS Investment Advisors LLC boosted its stake in shares of j2 Global by 73.7% in the second quarter. LS Investment Advisors LLC now owns 2,799 shares of the company’s stock worth $177,000 after buying an additional 1,188 shares during the last quarter.
j2 Global Inc. (NASDAQ:JCOM) traded up 0.42% during mid-day trading on Wednesday, reaching $66.68. 246,774 shares of the company’s stock traded hands. j2 Global Inc. has a 12-month low of $55.43 and a 12-month high of $84.15. The stock has a 50 day moving average of $67.91 and a 200 day moving average of $64.90. The company has a market cap of $3.20 billion, a P/E ratio of 23.99 and a beta of 1.21.
j2 Global (NASDAQ:JCOM) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported $1.21 EPS for the quarter, topping analysts’ consensus estimates of $1.15 by $0.06. j2 Global had a net margin of 17.16% and a return on equity of 24.28%. The firm earned $211.80 million during the quarter, compared to analyst estimates of $206.41 million. During the same period in the previous year, the business posted $0.99 earnings per share. The business’s revenue for the quarter was up 20.3% on a year-over-year basis. On average, equities research analysts predict that j2 Global Inc. will post $4.90 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 1st. Investors of record on Wednesday, August 17th were given a dividend of $0.345 per share. This represents a $1.38 annualized dividend and a yield of 2.07%. This is a positive change from j2 Global’s previous quarterly dividend of $0.34. The ex-dividend date was Monday, August 15th. j2 Global’s payout ratio is 49.46%.
A number of analysts recently commented on the stock. Robert W. Baird assumed coverage on shares of j2 Global in a research note on Tuesday, August 30th. They set an “outperform” rating and a $83.00 price target on the stock. Citigroup Inc. restated a “buy” rating and set a $73.00 price target on shares of j2 Global in a research note on Wednesday, August 17th. Finally, Zacks Investment Research upgraded shares of j2 Global from a “hold” rating to a “buy” rating and set a $78.00 price target on the stock in a research note on Friday, August 5th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $85.17.
In related news, VP Jeremy Rossen sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, August 5th. The shares were sold at an average price of $69.73, for a total transaction of $104,595.00. Following the completion of the sale, the vice president now directly owns 27,222 shares in the company, valued at $1,898,190.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director W Brian Kretzmer sold 6,600 shares of the business’s stock in a transaction that occurred on Tuesday, August 30th. The shares were sold at an average price of $67.95, for a total transaction of $448,470.00. Following the sale, the director now owns 14,897 shares of the company’s stock, valued at $1,012,251.15. The disclosure for this sale can be found here. Corporate insiders own 5.11% of the company’s stock.
About j2 Global
j2 Global, Inc is a provider of services delivered through the Internet. The Company provides cloud services to businesses of all sizes, from individuals to enterprises. The Company operates in two segments: Business Cloud Services and Digital Media. The Company’s Digital Media business segment consists of the Web properties and business operations of Ziff Davis, Inc (Ziff Davis).
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