j2 Global, Inc. (NASDAQ:JCOM) Shares Bought by Legato Capital Management LLC
Legato Capital Management LLC raised its stake in j2 Global, Inc. (NASDAQ:JCOM) by 1,159.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 15,476 shares of the technology company’s stock after buying an additional 14,247 shares during the period. Legato Capital Management LLC’s holdings in j2 Global were worth $1,317,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in the company. Cardinal Capital Management boosted its stake in j2 Global by 1.1% in the first quarter. Cardinal Capital Management now owns 8,072 shares of the technology company’s stock valued at $677,000 after buying an additional 90 shares during the period. First Citizens Bank & Trust Co. boosted its stake in j2 Global by 51.1% in the first quarter. First Citizens Bank & Trust Co. now owns 4,242 shares of the technology company’s stock valued at $356,000 after buying an additional 1,435 shares during the period. Profund Advisors LLC boosted its stake in j2 Global by 7.4% in the first quarter. Profund Advisors LLC now owns 24,327 shares of the technology company’s stock valued at $2,041,000 after buying an additional 1,676 shares during the period. Retirement Systems of Alabama boosted its stake in j2 Global by 93.0% in the first quarter. Retirement Systems of Alabama now owns 119,683 shares of the technology company’s stock valued at $10,043,000 after buying an additional 57,682 shares during the period. Finally, Anderson Hoagland & Co. acquired a new stake in j2 Global during the first quarter valued at $1,258,000.
j2 Global, Inc. (NASDAQ:JCOM) traded up 0.58% on Friday, hitting $84.70. The stock had a trading volume of 89,539 shares. The firm has a market capitalization of $4.08 billion, a price-to-earnings ratio of 27.89 and a beta of 0.95. j2 Global, Inc. has a 1-year low of $62.55 and a 1-year high of $91.48. The stock’s 50-day moving average is $86.04 and its 200 day moving average is $84.91.
j2 Global (NASDAQ:JCOM) last posted its earnings results on Monday, May 8th. The technology company reported $1.14 earnings per share for the quarter, missing analysts’ consensus estimates of $1.21 by $0.07. The company had revenue of $254.70 million for the quarter, compared to analysts’ expectations of $258.15 million. j2 Global had a return on equity of 26.41% and a net margin of 15.98%. The firm’s quarterly revenue was up 27.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.05 EPS. On average, equities research analysts predict that j2 Global, Inc. will post $5.84 earnings per share for the current fiscal year.
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Several research firms have weighed in on JCOM. Susquehanna Bancshares Inc reiterated a “positive” rating and issued a $120.00 price objective (up previously from $95.00) on shares of j2 Global in a report on Tuesday, May 9th. BidaskClub upgraded j2 Global from a “hold” rating to a “buy” rating in a report on Saturday, June 24th. Finally, Zacks Investment Research cut j2 Global from a “buy” rating to a “hold” rating in a research note on Wednesday, April 12th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $97.00.
In other j2 Global news, Director Douglas Y. Bech sold 15,000 shares of the company’s stock in a transaction on Monday, June 12th. The stock was sold at an average price of $85.86, for a total transaction of $1,287,900.00. Following the completion of the sale, the director now owns 123,966 shares in the company, valued at $10,643,720.76. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Jeremy Rossen sold 1,094 shares of the company’s stock in a transaction on Wednesday, May 10th. The stock was sold at an average price of $88.65, for a total value of $96,983.10. Following the sale, the vice president now owns 31,466 shares of the company’s stock, valued at approximately $2,789,460.90. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 29,758 shares of company stock valued at $2,583,053. 5.15% of the stock is owned by company insiders.
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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