j2 Global Inc. (JCOM) Stake Raised by First Citizens Bank & Trust Co.
First Citizens Bank & Trust Co. raised its position in shares of j2 Global Inc. (NASDAQ:JCOM) by 11.5% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 14,927 shares of the company’s stock after buying an additional 1,536 shares during the period. First Citizens Bank & Trust Co.’s holdings in j2 Global were worth $943,000 at the end of the most recent quarter.
Several other large investors have also bought and sold shares of the stock. Acrospire Investment Management LLC purchased a new stake in j2 Global during the first quarter valued at about $111,000. LS Investment Advisors LLC boosted its stake in j2 Global by 73.7% in the second quarter. LS Investment Advisors LLC now owns 2,799 shares of the company’s stock valued at $177,000 after buying an additional 1,188 shares during the last quarter. Mount Lucas Management LP boosted its stake in j2 Global by 10.7% in the first quarter. Mount Lucas Management LP now owns 3,747 shares of the company’s stock valued at $231,000 after buying an additional 363 shares during the last quarter. Fox Run Management L.L.C. purchased a new stake in j2 Global during the second quarter valued at about $253,000. Finally, Parametrica Management Ltd purchased a new stake in j2 Global during the second quarter valued at about $341,000.
j2 Global Inc. (NASDAQ:JCOM) traded up 0.80% during mid-day trading on Wednesday, hitting $64.65. 88,546 shares of the stock traded hands. The stock’s 50 day moving average is $67.23 and its 200-day moving average is $65.32. The company has a market cap of $3.10 billion, a price-to-earnings ratio of 23.26 and a beta of 1.11. j2 Global Inc. has a 12 month low of $55.43 and a 12 month high of $84.15.
j2 Global (NASDAQ:JCOM) last posted its quarterly 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 earned $211.80 million during the quarter, compared to analysts’ expectations of $206.41 million. j2 Global had a net margin of 17.16% and a return on equity of 24.28%. The firm’s revenue for the quarter was up 20.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.99 earnings per share. On average, equities research analysts anticipate that j2 Global Inc. will post $4.90 EPS for the current year.
JCOM has been the topic of several research analyst reports. Citigroup Inc. reiterated a “buy” rating and issued a $73.00 price objective on shares of j2 Global in a report on Wednesday, August 17th. Zacks Investment Research upgraded 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, 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. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. j2 Global has an average rating of “Buy” and an average price target of $85.17.
In other j2 Global news, VP Jeremy Rossen sold 1,500 shares of the stock in a transaction dated Friday, August 5th. The shares were sold at an average price of $69.73, for a total value of $104,595.00. Following the completion of the transaction, the vice president now directly owns 27,222 shares of the company’s stock, valued at $1,898,190.06. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Stephen Ross sold 19,836 shares of the stock in a transaction dated Tuesday, September 13th. The shares were sold at an average price of $67.84, for a total transaction of $1,345,674.24. Following the completion of the transaction, the director now directly owns 28,107 shares of the company’s stock, valued at $1,906,778.88. The disclosure for this sale can be found here. Corporate insiders own 5.11% of the company’s stock.
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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