Bank of Montreal Can Takes Position in j2 Global Inc. (JCOM)
Bank of Montreal Can acquired a new position in j2 Global Inc. (NASDAQ:JCOM) during the second quarter, Holdings Channel reports. The institutional investor acquired 227,896 shares of the company’s stock, valued at approximately $14,396,000.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Acrospire Investment Management LLC bought a new position in j2 Global during the first quarter worth $111,000. LS Investment Advisors LLC increased its position in 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 in the last quarter. Mount Lucas Management LP increased its position in 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 in the last quarter. Fox Run Management L.L.C. bought a new position in j2 Global during the second quarter worth $253,000. Finally, Parametrica Management Ltd bought a new position in j2 Global during the second quarter worth $341,000.
j2 Global Inc. (NASDAQ:JCOM) traded up 0.92% during mid-day trading on Friday, hitting $66.61. The stock had a trading volume of 210,034 shares. The firm’s 50-day moving average price is $67.48 and its 200-day moving average price is $65.00. The stock has a market cap of $3.20 billion, a PE ratio of 23.97 and a beta of 1.21. j2 Global Inc. has a 1-year low of $55.43 and a 1-year high of $84.15.
j2 Global (NASDAQ:JCOM) last posted its earnings results on Wednesday, August 3rd. The company reported $1.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.15 by $0.06. The firm had revenue of $211.80 million for the quarter, compared to the consensus estimate of $206.41 million. j2 Global had a return on equity of 24.28% and a net margin of 17.16%. The business’s quarterly revenue was up 20.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.99 earnings per share. On average, equities analysts expect that j2 Global Inc. will post $4.90 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 1st. Shareholders of record on Wednesday, August 17th were given a dividend of $0.345 per share. The ex-dividend date was Monday, August 15th. This represents a $1.38 annualized dividend and a dividend yield of 2.07%. This is an increase from j2 Global’s previous quarterly dividend of $0.34. j2 Global’s dividend payout ratio is currently 49.46%.
A number of research analysts have weighed in on the company. Robert W. Baird assumed coverage on j2 Global in a research note on Tuesday, August 30th. They issued an “outperform” rating and a $83.00 price target for the company. Citigroup Inc. restated a “buy” rating and issued a $73.00 price target on shares of j2 Global in a research note on Wednesday, August 17th. Finally, Zacks Investment Research upgraded j2 Global from a “hold” rating to a “buy” rating and set a $78.00 price target for the company in a research note on Friday, August 5th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $85.17.
In other j2 Global news, Director Stephen Ross sold 19,836 shares of the stock in a transaction on Tuesday, September 13th. The stock was sold at an average price of $67.84, for a total transaction of $1,345,674.24. Following the sale, the director now owns 28,107 shares in the company, valued at $1,906,778.88. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Jeremy Rossen sold 1,014 shares of the 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 sale, the vice president now owns 24,708 shares in the company, valued at approximately $1,655,683.08. The disclosure for this sale can be found here. Company 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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