Stevens Capital Management LP Has $1.12 Million Holdings in j2 Global, Inc. (JCOM)
Stevens Capital Management LP grew its position in j2 Global, Inc. (NASDAQ:JCOM) by 90.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,164 shares of the technology company’s stock after purchasing an additional 7,194 shares during the quarter. Stevens Capital Management LP’s holdings in j2 Global were worth $1,120,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Alps Advisors Inc. grew its holdings in j2 Global by 0.3% in the second quarter. Alps Advisors Inc. now owns 5,629 shares of the technology company’s stock worth $479,000 after purchasing an additional 15 shares during the last quarter. First Mercantile Trust Co. grew its holdings in j2 Global by 1.9% in the second quarter. First Mercantile Trust Co. now owns 2,150 shares of the technology company’s stock worth $183,000 after purchasing an additional 40 shares during the last quarter. Advisor Group Inc. grew its holdings in j2 Global by 1.7% in the second quarter. Advisor Group Inc. now owns 2,535 shares of the technology company’s stock worth $195,000 after purchasing an additional 43 shares during the last quarter. World Asset Management Inc lifted its stake in shares of j2 Global by 2.0% during the second quarter. World Asset Management Inc now owns 3,025 shares of the technology company’s stock worth $257,000 after buying an additional 59 shares during the period. Finally, Chase Investment Counsel Corp lifted its stake in shares of j2 Global by 1.3% during the second quarter. Chase Investment Counsel Corp now owns 7,271 shares of the technology company’s stock worth $618,000 after buying an additional 96 shares during the period.
j2 Global, Inc. (NASDAQ:JCOM) opened at $73.21 on Tuesday. The stock has a market cap of $3,605.49, a price-to-earnings ratio of 14.52 and a beta of 0.88. j2 Global, Inc. has a 1 year low of $70.14 and a 1 year high of $91.48. The company has a current ratio of 2.79, a quick ratio of 2.79 and a debt-to-equity ratio of 1.02.
j2 Global (NASDAQ:JCOM) last posted its earnings results on Thursday, November 2nd. The technology company reported $1.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.36 by ($0.02). The business had revenue of $273.60 million for the quarter, compared to analyst estimates of $272.84 million. j2 Global had a net margin of 12.60% and a return on equity of 26.43%. The company’s revenue for the quarter was up 30.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.25 earnings per share. equities analysts anticipate that j2 Global, Inc. will post 5.35 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 5th. Investors of record on Friday, November 17th will be given a dividend of $0.395 per share. The ex-dividend date of this dividend is Thursday, November 16th. This is an increase from j2 Global’s previous quarterly dividend of $0.39. This represents a $1.58 dividend on an annualized basis and a yield of 2.16%. j2 Global’s payout ratio is currently 57.04%.
Several equities research analysts have recently commented on JCOM shares. BidaskClub downgraded shares of j2 Global from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 9th. Zacks Investment Research downgraded shares of j2 Global from a “hold” rating to a “sell” rating in a research note on Wednesday, August 9th. Citigroup Inc. lowered their price objective on shares of j2 Global from $89.00 to $88.00 and set a “neutral” rating for the company in a research note on Monday, August 7th. ValuEngine upgraded shares of j2 Global from a “hold” rating to a “buy” rating in a research note on Wednesday, October 11th. Finally, Robert W. Baird reiterated a “buy” rating and set a $94.00 price objective on shares of j2 Global in a research note on Friday, September 1st. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $101.75.
In related news, VP Jeremy Rossen sold 2,514 shares of the business’s stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $74.05, for a total transaction of $186,161.70. Following the completion of the transaction, the vice president now directly owns 26,372 shares in the company, valued at $1,952,846.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 5.15% 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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