Zedge, Inc. (NYSEAMERICAN:ZDGE) Short Interest Down 47.0% in June

Zedge, Inc. (NYSEAMERICAN:ZDGE) was the target of a large decrease in short interest in the month of June. As of June 30th, there was short interest totaling 38,035 shares, a decrease of 47.0% from the June 15th total of 71,719 shares. Approximately 0.4% of the shares of the stock are short sold. Based on an average daily trading volume, of 147,205 shares, the days-to-cover ratio is currently 0.3 days.

Analyst Upgrades and Downgrades

Separately, Zacks Research raised shares of Zedge to a “hold” rating in a research note on Monday, June 15th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, Zedge currently has a consensus rating of “Hold” and a consensus target price of $6.00.

Institutional Trading of Zedge

Several large investors have recently made changes to their positions in the company. Marshall Wace LLP purchased a new stake in shares of Zedge during the second quarter worth approximately $331,000. NewEdge Advisors LLC purchased a new position in Zedge in the 2nd quarter valued at $191,000. Raymond James Financial Inc. acquired a new stake in Zedge during the 2nd quarter worth $40,000. Arrowstreet Capital Limited Partnership acquired a new stake in Zedge during the 3rd quarter worth $87,000. Finally, Squarepoint Ops LLC acquired a new stake in Zedge during the 3rd quarter worth $37,000. 29.37% of the stock is currently owned by hedge funds and other institutional investors.

Zedge Stock Performance

Shares of ZDGE stock traded up $0.02 on Friday, reaching $2.99. 35,100 shares of the company were exchanged, compared to its average volume of 102,667. Zedge has a 1 year low of $2.21 and a 1 year high of $4.89. The business has a 50-day moving average price of $3.08 and a 200 day moving average price of $3.15. The company has a market cap of $37.49 million, a price-to-earnings ratio of -33.22 and a beta of 1.20.

Zedge (NYSEAMERICAN:ZDGE) last issued its quarterly earnings results on Thursday, June 11th. The company reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.02. Zedge had a negative net margin of 3.62% and a positive return on equity of 11.18%. The firm had revenue of $7.99 million for the quarter, compared to analyst estimates of $7.00 million. As a group, equities analysts anticipate that Zedge will post 0.31 earnings per share for the current year.

Zedge Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 22nd were given a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 2.7%. The ex-dividend date was Monday, June 22nd. Zedge’s dividend payout ratio (DPR) is -11.94%.

Zedge Company Profile

Zedge, Inc (NYSE American: ZDGE) is a digital media and technology company that operates a mobile personalization platform. Through its flagship Zedge app and website, the company provides consumers with a wide range of downloadable digital content, including wallpapers, ringtones, notification sounds, app icons and lock screens. The platform accommodates both free and premium content, enabling users to customize their smartphones and tablets according to personal taste.

The company’s platform features content created by independent designers and established media brands, and it supports multiple languages and regional preferences.