Emmett Investment Management LP Increases Stock Position in Zillow Group, Inc. $Z

Emmett Investment Management LP raised its stake in shares of Zillow Group, Inc. (NASDAQ:Z) by 353.9% in the 1st quarter, HoldingsChannel reports. The firm owned 96,236 shares of the financial services provider’s stock after purchasing an additional 75,036 shares during the period. Zillow Group makes up 3.0% of Emmett Investment Management LP’s portfolio, making the stock its 18th biggest position. Emmett Investment Management LP’s holdings in Zillow Group were worth $3,897,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Empowered Funds LLC boosted its holdings in shares of Zillow Group by 2,690.6% in the 1st quarter. Empowered Funds LLC now owns 61,421 shares of the financial services provider’s stock worth $2,542,000 after purchasing an additional 59,220 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in Zillow Group by 106.8% during the 1st quarter. The Manufacturers Life Insurance Company now owns 41,519 shares of the financial services provider’s stock valued at $1,718,000 after buying an additional 21,439 shares during the period. Quantinno Capital Management LP boosted its holdings in shares of Zillow Group by 455.6% during the first quarter. Quantinno Capital Management LP now owns 641,618 shares of the financial services provider’s stock worth $26,550,000 after purchasing an additional 526,142 shares during the period. SummitTX Capital L.P. lifted its stake in Zillow Group by 226.9% in the first quarter. SummitTX Capital L.P. now owns 20,498 shares of the financial services provider’s stock worth $848,000 after acquiring an additional 14,227 shares during the period. Finally, Weiss Asset Management LP bought a new position in Zillow Group in the 1st quarter worth $1,743,000. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Zillow Group Stock Performance

Z stock opened at $32.00 on Tuesday. The firm has a 50 day moving average price of $33.34 and a 200-day moving average price of $43.51. Zillow Group, Inc. has a 52-week low of $29.23 and a 52-week high of $93.88. The firm has a market capitalization of $7.32 billion, a price-to-earnings ratio of 128.00, a PEG ratio of 1.32 and a beta of 1.98.

Zillow Group (NASDAQ:Z) last posted its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.10. The company had revenue of $708.00 million during the quarter, compared to analyst estimates of $705.10 million. Zillow Group had a return on equity of 1.41% and a net margin of 2.27%. As a group, sell-side analysts forecast that Zillow Group, Inc. will post 0.9 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Jeremy Wacksman sold 9,072 shares of the stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $36.54, for a total transaction of $331,490.88. Following the sale, the chief executive officer directly owned 153,699 shares of the company’s stock, valued at approximately $5,616,161.46. This represents a 5.57% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Errol G. Samuelson sold 2,939 shares of Zillow Group stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $37.97, for a total transaction of $111,593.83. Following the completion of the transaction, the insider directly owned 134,039 shares of the company’s stock, valued at $5,089,460.83. This trade represents a 2.15% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders sold 42,910 shares of company stock valued at $1,605,732. 23.76% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on Z. Keefe, Bruyette & Woods decreased their price target on shares of Zillow Group from $50.00 to $37.00 and set a “market perform” rating for the company in a research note on Monday, July 13th. Deutsche Bank Aktiengesellschaft decreased their target price on Zillow Group from $80.00 to $68.00 and set a “buy” rating for the company in a research report on Friday, May 8th. JPMorgan Chase & Co. dropped their price target on Zillow Group from $84.00 to $76.00 and set an “overweight” rating on the stock in a research report on Thursday, May 7th. Royal Bank Of Canada reduced their price target on Zillow Group from $95.00 to $70.00 and set an “outperform” rating on the stock in a research note on Wednesday, June 10th. Finally, Jefferies Financial Group lowered their price objective on Zillow Group from $75.00 to $60.00 and set a “buy” rating for the company in a research report on Tuesday, July 14th. Three research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Zillow Group presently has an average rating of “Moderate Buy” and a consensus price target of $72.38.

Zillow Group Company Profile

Zillow Group, Inc is an online real estate marketplace company that operates a portfolio of consumer-facing websites and mobile apps designed to connect buyers, sellers, renters, homeowners and real estate professionals. The company’s platforms aggregate property listings, rental listings, and related information to help users search for homes, estimate property values and connect with agents and service providers. Zillow generates revenue primarily through advertising and lead-generation services for real estate professionals, property managers and mortgage lenders.

Key products and services include the Zillow and Trulia consumer websites and apps, which provide searchable listings, photos, neighborhood data and the company’s automated home valuation tool known as the “Zestimate.” Zillow also offers a rentals marketplace, a mortgage marketplace and tools for home buying and selling such as Zillow Premier Agent for agent advertising and leads, as well as ancillary services designed to support transactions, including closing and title-related offerings.