Ziff Davis (NASDAQ:ZD) Posts Earnings Results, Beats Estimates By $0.22 EPS

Ziff Davis (NASDAQ:ZD) announced its quarterly earnings data on Thursday. The technology company reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.22, Briefing.com reports. The company had revenue of $286.74 million during the quarter, compared to the consensus estimate of $286.10 million. Ziff Davis had a return on equity of 11.46% and a net margin of 48.57%.The firm’s revenue was down 18.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.24 EPS.

Ziff Davis Price Performance

Shares of ZD stock traded up $2.92 during trading hours on Friday, hitting $53.87. The stock had a trading volume of 1,472,437 shares, compared to its average volume of 538,090. The stock’s 50-day moving average price is $50.23 and its two-hundred day moving average price is $43.66. Ziff Davis has a one year low of $22.45 and a one year high of $58.06. The stock has a market capitalization of $1.98 billion, a price-to-earnings ratio of 3.05 and a beta of 1.08. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.66 and a quick ratio of 1.66.

Insider Buying and Selling at Ziff Davis

In related news, EVP Jeremy Rossen sold 8,000 shares of the firm’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $47.00, for a total value of $376,000.00. Following the completion of the transaction, the executive vice president directly owned 14,462 shares of the company’s stock, valued at approximately $679,714. This trade represents a 35.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Kirk P. Mcdonald sold 1,075 shares of the business’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of $46.65, for a total transaction of $50,148.75. Following the completion of the sale, the director owned 13,468 shares in the company, valued at $628,282.20. This represents a 7.39% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 31,422 shares of company stock worth $1,468,864 in the last quarter. 3.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. California State Teachers Retirement System grew its position in Ziff Davis by 1.4% during the second quarter. California State Teachers Retirement System now owns 41,167 shares of the technology company’s stock valued at $1,246,000 after buying an additional 550 shares during the period. Federated Hermes Inc. acquired a new position in shares of Ziff Davis in the fourth quarter worth about $25,000. O Shaughnessy Asset Management LLC boosted its stake in shares of Ziff Davis by 1.3% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 61,415 shares of the technology company’s stock worth $2,159,000 after acquiring an additional 795 shares in the last quarter. Franklin Resources Inc. boosted its stake in shares of Ziff Davis by 4.5% during the 3rd quarter. Franklin Resources Inc. now owns 28,672 shares of the technology company’s stock worth $1,092,000 after acquiring an additional 1,246 shares in the last quarter. Finally, Deutsche Bank AG grew its position in shares of Ziff Davis by 3.5% during the 4th quarter. Deutsche Bank AG now owns 39,169 shares of the technology company’s stock valued at $1,377,000 after acquiring an additional 1,312 shares during the period. Hedge funds and other institutional investors own 99.76% of the company’s stock.

Analyst Ratings Changes

ZD has been the topic of several analyst reports. Susquehanna lifted their price target on shares of Ziff Davis from $45.00 to $60.00 and gave the company a “positive” rating in a report on Tuesday, May 5th. Piper Sandler set a $48.00 price objective on shares of Ziff Davis in a research note on Monday, May 11th. Zacks Research downgraded shares of Ziff Davis from a “hold” rating to a “strong sell” rating in a research report on Wednesday, May 6th. Barclays lifted their target price on shares of Ziff Davis from $45.00 to $48.00 and gave the company an “equal weight” rating in a research note on Monday, May 11th. Finally, Weiss Ratings upgraded Ziff Davis from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, June 1st. Three equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Ziff Davis presently has an average rating of “Hold” and an average price target of $47.25.

Ziff Davis Company Profile

Ziff Davis, Inc is a digital media and internet company that operates a diverse portfolio of online brands, subscription-based services and performance marketing platforms. The company specializes in technology publishing and digital marketing solutions, offering content, reviews and insights tailored to consumer and enterprise audiences. Ziff Davis’s flagship media properties include PCMag, which provides expert reviews and comparisons of consumer electronics and software, as well as IGN, a leading destination for gaming news, reviews and entertainment coverage.

Founded in 1927 by William B.