Zagg Inc. (ZAGG) Stock Price Down 3.6%
Zagg Inc. (NASDAQ:ZAGG) fell 3.6% during mid-day trading on Thursday . The company traded as low as $6.95 and last traded at $6.99, with a volume of 1,664,196 shares. The stock had previously closed at $7.25.
A number of research firms have issued reports on ZAGG. Roth Capital increased their target price on shares of Zagg from $5.00 to $6.00 and gave the stock a “neutral” rating in a research report on Thursday, July 14th. Wunderlich dropped their price target on shares of Zagg from $13.00 to $10.00 and set a “buy” rating on the stock in a research note on Wednesday, May 11th. Finally, Zacks Investment Research lowered shares of Zagg from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 30th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $8.69.
The firm has a market cap of $197.09 million and a P/E ratio of 21.97. The company has a 50-day moving average of $5.53 and a 200 day moving average of $7.81.
Zagg (NASDAQ:ZAGG) last issued its quarterly earnings results on Tuesday, May 10th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.02 by $0.05. During the same period last year, the company posted $0.17 EPS. The firm had revenue of $62.40 million for the quarter, compared to the consensus estimate of $71.07 million. Zagg’s revenue for the quarter was up 9.1% compared to the same quarter last year. Equities research analysts forecast that Zagg Inc. will post $0.48 earnings per share for the current year.
In other news, Director E Todd Heiner acquired 37,865 shares of the firm’s stock in a transaction that occurred on Thursday, May 19th. The stock was purchased at an average price of $5.25 per share, for a total transaction of $198,791.25. Following the completion of the acquisition, the director now owns 92,308 shares in the company, valued at $484,617. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Bradley J. Holiday acquired 7,560 shares of the firm’s stock in a transaction that occurred on Thursday, May 19th. The shares were purchased at an average price of $5.24 per share, with a total value of $39,614.40. Following the acquisition, 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.
A number of hedge funds and institutional investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP boosted its position in shares of Zagg by 11.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,809,165 shares of the company’s stock worth $19,793,000 after buying an additional 181,033 shares in the last quarter. 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 in the last quarter. 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 in the last quarter. 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 in the last quarter. Finally, Engineers Gate Manager LP purchased a new position in shares of Zagg during the fourth quarter worth about $1,174,000.
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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