Mason Street Advisors LLC Purchases Shares of 21,095 j2 Global Inc. (JCOM)
Mason Street Advisors LLC purchased a new position in shares of j2 Global Inc. (NASDAQ:JCOM) during the second quarter, Holdings Channel reports. The firm purchased 21,095 shares of the company’s stock, valued at approximately $1,333,000.
Other hedge funds and other institutional investors have also modified their holdings of the company. FMR LLC raised its position in j2 Global by 4.5% in the second quarter. FMR LLC now owns 4,095,551 shares of the company’s stock worth $258,716,000 after buying an additional 176,390 shares during the last quarter. Vanguard Group Inc. raised its position in j2 Global by 1.5% in the second quarter. Vanguard Group Inc. now owns 3,439,142 shares of the company’s stock worth $217,250,000 after buying an additional 52,449 shares during the last quarter. BlackRock Fund Advisors raised its position in j2 Global by 1.3% in the second quarter. BlackRock Fund Advisors now owns 2,393,136 shares of the company’s stock worth $151,174,000 after buying an additional 31,413 shares during the last quarter. TimesSquare Capital Management LLC raised its position in j2 Global by 17.2% in the second quarter. TimesSquare Capital Management LLC now owns 1,986,307 shares of the company’s stock worth $125,475,000 after buying an additional 291,120 shares during the last quarter. Finally, State Street Corp raised its position in j2 Global by 1.6% in the first quarter. State Street Corp now owns 1,541,166 shares of the company’s stock worth $94,903,000 after buying an additional 24,835 shares during the last quarter.
j2 Global Inc. (NASDAQ:JCOM) opened at 66.40 on Wednesday. j2 Global Inc. has a 52-week low of $55.43 and a 52-week high of $84.15. The firm has a market cap of $3.19 billion, a price-to-earnings ratio of 23.89 and a beta of 1.21. The company has a 50 day moving average price of $67.94 and a 200-day moving average price of $64.89.
j2 Global (NASDAQ:JCOM) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported $1.21 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.15 by $0.06. The business had revenue of $211.80 million for the quarter, compared to analyst estimates of $206.41 million. j2 Global had a return on equity of 24.28% and a net margin of 17.16%. j2 Global’s quarterly revenue was up 20.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.99 EPS. Equities research analysts anticipate that j2 Global Inc. will post $4.90 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 1st. Investors of record on Wednesday, August 17th were paid a $0.345 dividend. This is a positive change from j2 Global’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend was Monday, August 15th. This represents a $1.38 annualized dividend and a yield of 2.08%. j2 Global’s payout ratio is currently 49.46%.
JCOM has been the topic of a number of research analyst reports. Robert W. Baird initiated coverage on j2 Global in a report on Tuesday, August 30th. They set an “outperform” rating and a $83.00 target price on the stock. Zacks Investment Research raised j2 Global from a “hold” rating to a “buy” rating and set a $78.00 target price on the stock in a report on Friday, August 5th. Finally, Citigroup Inc. reaffirmed a “buy” rating and set a $73.00 target price on shares of j2 Global in a report on Wednesday, August 17th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. j2 Global presently has an average rating of “Buy” and an average target price of $85.17.
In other j2 Global news, Director Stephen Ross sold 19,836 shares of the business’s stock in a transaction on Tuesday, September 13th. The stock was sold at an average price of $67.84, for a total value of $1,345,674.24. Following the transaction, the director now owns 28,107 shares of the company’s stock, valued at $1,906,778.88. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Jeremy Rossen sold 1,014 shares of the business’s stock in a transaction on Thursday, August 25th. The stock was sold at an average price of $67.01, for a total value of $67,948.14. Following the completion of the transaction, the vice president now directly owns 24,708 shares in the company, valued at approximately $1,655,683.08. The disclosure for this sale can be found here. 5.11% of the stock is owned by corporate insiders.
j2 Global Company Profile
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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