Lazard Asset Management LLC Acquires New Position in Zagg Inc (ZAGG)
Lazard Asset Management LLC acquired a new stake in shares of Zagg Inc (NASDAQ:ZAGG) in the 4th quarter, HoldingsChannel reports. The fund acquired 18,328 shares of the specialty retailer’s stock, valued at approximately $338,000.
Several other large investors have also recently modified their holdings of ZAGG. SG Americas Securities LLC bought a new position in shares of Zagg during the fourth quarter valued at about $108,000. Voya Investment Management LLC raised its stake in shares of Zagg by 18.2% during the second quarter. Voya Investment Management LLC now owns 17,709 shares of the specialty retailer’s stock valued at $153,000 after acquiring an additional 2,730 shares during the last quarter. Alliancebernstein L.P. bought a new position in shares of Zagg during the second quarter valued at about $169,000. IFC Holdings Incorporated FL bought a new position in shares of Zagg during the fourth quarter valued at about $229,000. Finally, Bailard Inc. bought a new position in shares of Zagg during the fourth quarter valued at about $358,000. 81.10% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts have recently commented on ZAGG shares. Northland Securities reaffirmed a “buy” rating and set a $23.00 price objective on shares of Zagg in a research note on Friday, December 1st. ValuEngine raised shares of Zagg from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Craig Hallum set a $24.00 price objective on shares of Zagg and gave the company a “buy” rating in a research note on Wednesday, January 3rd. Zacks Investment Research raised shares of Zagg from a “hold” rating to a “buy” rating and set a $21.00 price objective for the company in a research note on Saturday, January 6th. Finally, BidaskClub downgraded shares of Zagg from a “buy” rating to a “hold” rating in a research note on Tuesday, January 16th. Three research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $17.17.
Zagg (NASDAQ:ZAGG) last released its quarterly earnings results on Wednesday, March 7th. The specialty retailer reported $0.71 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.73 by ($0.02). Zagg had a return on equity of 25.89% and a net margin of 2.91%. The company had revenue of $176.92 million during the quarter, compared to the consensus estimate of $167.15 million. During the same period in the previous year, the company earned ($0.08) earnings per share. Zagg’s quarterly revenue was up 53.9% on a year-over-year basis. analysts anticipate that Zagg Inc will post 1.44 EPS for the current year.
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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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