j2 Global Inc. (JCOM) Trading Down 3%
j2 Global Inc. (NASDAQ:JCOM) dropped 3% during mid-day trading on Wednesday . The company traded as low as $65.26 and last traded at $65.29, with a volume of 402,980 shares changing hands. The stock had previously closed at $67.33.
JCOM has been the subject of a number of research reports. Zacks Investment Research cut shares of j2 Global from a “buy” rating to a “hold” rating in a research note on Thursday, April 21st. Citigroup Inc. reaffirmed a “buy” rating on shares of j2 Global in a research note on Saturday, July 9th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. j2 Global presently has a consensus rating of “Buy” and an average target price of $85.60.
The stock has a market capitalization of $3.13 billion and a P/E ratio of 23.49. The company’s 50 day moving average price is $66.17 and its 200-day moving average price is $65.56.
j2 Global (NASDAQ:JCOM) last posted its earnings results on Wednesday, August 3rd. The company reported $1.21 earnings per share for the quarter, beating analysts’ consensus estimates of $1.15 by $0.06. During the same period last year, the business posted $0.99 earnings per share. The business earned $211.80 million during the quarter, compared to analysts’ expectations of $206.41 million. The company’s revenue for the quarter was up 20.3% compared to the same quarter last year. Equities research analysts anticipate that j2 Global Inc. will post $4.92 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 1st. Shareholders of record on Wednesday, August 17th will be paid a dividend of $0.345 per share. This represents a $1.38 annualized dividend and a yield of 2.11%. This is an increase from j2 Global’s previous quarterly dividend of $0.34. The ex-dividend date is Monday, August 15th.
In other j2 Global news, VP Jeremy Rossen sold 1,500 shares of j2 Global stock in a transaction 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 transaction, the vice president now directly owns 27,222 shares of the company’s stock, valued at $1,898,190.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director W Brian Kretzmer sold 6,600 shares of j2 Global stock in a transaction on Wednesday, June 8th. The stock was sold at an average price of $67.70, for a total transaction of $446,820.00. Following the transaction, the director now directly owns 14,897 shares of the company’s stock, valued at $1,008,526.90. The disclosure for this sale can be found here.
A number of hedge funds and institutional investors have recently bought and sold shares of JCOM. Dimensional Fund Advisors LP raised its position in j2 Global by 0.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 927,440 shares of the company’s stock valued at $76,348,000 after buying an additional 2,894 shares during the last quarter. Schroder Investment Management Group raised its position in j2 Global by 2,660.9% in the fourth quarter. Schroder Investment Management Group now owns 240,200 shares of the company’s stock valued at $19,773,000 after buying an additional 231,500 shares during the last quarter. Rail Splitter Capital Management LLC raised its position in j2 Global by 11.1% in the fourth quarter. Rail Splitter Capital Management LLC now owns 157,524 shares of the company’s stock valued at $12,967,000 after buying an additional 15,695 shares during the last quarter. New York State Common Retirement Fund raised its position in j2 Global by 15.3% in the fourth quarter. New York State Common Retirement Fund now owns 64,325 shares of the company’s stock valued at $5,295,000 after buying an additional 8,535 shares during the last quarter. Finally, Calvert Investment Management Inc. purchased a new position in j2 Global during the fourth quarter valued at approximately $3,522,000.
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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