Ziff Davis (NASDAQ:ZD) Sets New 12-Month Low at $50.04

Ziff Davis, Inc. (NASDAQ:ZD) shares hit a new 52-week low on Tuesday . The company traded as low as $50.04 and last traded at $50.46, with a volume of 16879 shares traded. The stock had previously closed at $50.95.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Wedbush boosted their target price on shares of Ziff Davis from $75.00 to $78.00 and gave the stock an “outperform” rating in a report on Friday, February 23rd. UBS Group decreased their price objective on shares of Ziff Davis from $77.00 to $76.00 and set a “neutral” rating on the stock in a report on Tuesday, March 5th. Evercore ISI upped their price objective on shares of Ziff Davis from $75.00 to $80.00 and gave the company an “outperform” rating in a report on Friday, February 23rd. Royal Bank of Canada reiterated an “outperform” rating and issued a $95.00 price objective on shares of Ziff Davis in a report on Friday, February 23rd. Finally, Barclays upped their price objective on shares of Ziff Davis from $66.00 to $68.00 and gave the company an “equal weight” rating in a report on Friday, February 23rd. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Ziff Davis has a consensus rating of “Moderate Buy” and an average price target of $81.17.

Ziff Davis Stock Performance

The stock’s 50-day moving average price is $60.90 and its 200-day moving average price is $63.56. The company has a market cap of $2.31 billion, a P/E ratio of 62.13 and a beta of 1.19. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.76 and a quick ratio of 2.76.

Ziff Davis (NASDAQ:ZD) last posted its quarterly earnings data on Wednesday, February 21st. The technology company reported $2.19 earnings per share for the quarter, topping the consensus estimate of $2.17 by $0.02. Ziff Davis had a net margin of 3.04% and a return on equity of 13.97%. The business had revenue of $389.89 million during the quarter, compared to analysts’ expectations of $400.71 million. Equities analysts anticipate that Ziff Davis, Inc. will post 6.23 EPS for the current year.

Insider Buying and Selling

In other news, EVP Jeremy Rossen sold 4,162 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $69.43, for a total value of $288,967.66. Following the completion of the transaction, the executive vice president now owns 7,261 shares of the company’s stock, valued at $504,131.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 2.33% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Ziff Davis

Several large investors have recently bought and sold shares of ZD. Norges Bank purchased a new position in Ziff Davis during the 4th quarter valued at about $32,202,000. CDAM UK Ltd lifted its position in Ziff Davis by 26.5% in the 4th quarter. CDAM UK Ltd now owns 1,181,995 shares of the technology company’s stock worth $79,418,000 after buying an additional 247,375 shares during the last quarter. Legal & General Group Plc boosted its stake in shares of Ziff Davis by 11.3% during the third quarter. Legal & General Group Plc now owns 1,575,994 shares of the technology company’s stock valued at $100,375,000 after purchasing an additional 159,839 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Ziff Davis by 8.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,693,227 shares of the technology company’s stock valued at $113,771,000 after purchasing an additional 136,220 shares during the period. Finally, Retirement Systems of Alabama boosted its stake in shares of Ziff Davis by 212.4% during the fourth quarter. Retirement Systems of Alabama now owns 181,314 shares of the technology company’s stock valued at $12,182,000 after purchasing an additional 123,275 shares during the period. 99.76% of the stock is currently owned by institutional investors.

About Ziff Davis

Ziff Davis, Inc, together with its subsidiaries, operates as a digital media and internet company in the United States and internationally. The company offers PCMag, an online resource for laboratory-based product reviews, technology news, buying guides, and research papers; Mashable for publishing technology and culture content; Spiceworks Ziff Davis provides digital content of IT products and services; retailMeNot, a savings destination platform; Offers.com, a coupon and deals website; and event-based properties, including BlackFriday.com, TheBlackFriday.com, BestBlackFriday.com, and DealsofAmerica.com.