Axa Buys 5,300 Shares of Zagg Inc (ZAGG)
Axa raised its stake in Zagg Inc (NASDAQ:ZAGG) by 44.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,300 shares of the specialty retailer’s stock after acquiring an additional 5,300 shares during the period. Axa owned approximately 0.06% of Zagg worth $255,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Sapphire Star Partners LP lifted its holdings in Zagg by 49.7% in the third quarter. Sapphire Star Partners LP now owns 33,623 shares of the specialty retailer’s stock valued at $496,000 after acquiring an additional 11,167 shares during the period. Yorktown Management & Research Co Inc lifted its holdings in Zagg by 76.3% in the third quarter. Yorktown Management & Research Co Inc now owns 26,320 shares of the specialty retailer’s stock valued at $388,000 after acquiring an additional 11,393 shares during the period. Prudential Financial Inc. bought a new position in Zagg in the third quarter valued at about $149,000. Wasatch Advisors Inc. lifted its holdings in Zagg by 8.2% in the third quarter. Wasatch Advisors Inc. now owns 1,584,698 shares of the specialty retailer’s stock valued at $23,374,000 after acquiring an additional 120,541 shares during the period. Finally, SG Americas Securities LLC purchased a new stake in Zagg in the third quarter worth about $126,000. 84.88% of the stock is currently owned by hedge funds and other institutional investors.
Shares of ZAGG opened at $9.79 on Monday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.76 and a quick ratio of 1.13. The stock has a market capitalization of $272.09 million, a price-to-earnings ratio of 10.09, a P/E/G ratio of 0.96 and a beta of 1.68. Zagg Inc has a 52 week low of $9.54 and a 52 week high of $21.10.
In other Zagg news, President Brian Stech sold 10,000 shares of the company’s stock in a transaction dated Monday, October 1st. The stock was sold at an average price of $14.67, for a total value of $146,700.00. Following the completion of the sale, the president now owns 198,864 shares in the company, valued at $2,917,334.88. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 5.80% of the company’s stock.
A number of brokerages have commented on ZAGG. BidaskClub upgraded Zagg from a “hold” rating to a “buy” rating in a research report on Saturday, August 25th. ValuEngine cut Zagg from a “hold” rating to a “sell” rating in a research report on Monday, September 24th. B. Riley reduced their price target on Zagg from $17.00 to $15.00 and set a “neutral” rating for the company in a research report on Wednesday, November 7th. Finally, TheStreet cut Zagg from a “b-” rating to a “c+” rating in a research report on Monday, November 12th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $18.80.
ZAGG Inc, together with its subsidiaries, designs, manufactures, and distributes mobile tech accessories for smartphones and tablets in the United States, Europe, and internationally. It operates in ZAGG and mophie segments. The company offers screen protection products; battery cases and power management products for tablets, smartphones, MP3 players, cameras, and other electronic mobile devices; device specific keyboards and device agnostic keyboards; and earbuds, headphones, wireless charging products, Bluetooth speakers, and cables under the ZAGG, InvisibleShield, IFROGZ, and mophie brands.
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