Royce & Associates LP Trims Stock Position in Ziff Davis, Inc. (NASDAQ:ZD)

Royce & Associates LP reduced its position in shares of Ziff Davis, Inc. (NASDAQ:ZD) by 0.8% in the third quarter, according to its most recent filing with the SEC. The fund owned 1,922,921 shares of the technology company’s stock after selling 15,322 shares during the quarter. Ziff Davis comprises approximately 0.9% of Royce & Associates LP’s holdings, making the stock its 8th largest holding. Royce & Associates LP owned 4.30% of Ziff Davis worth $93,569,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Rothschild Investment LLC purchased a new stake in shares of Ziff Davis in the second quarter worth approximately $25,000. Quest Partners LLC bought a new position in shares of Ziff Davis in the second quarter worth about $38,000. Innealta Capital LLC purchased a new position in Ziff Davis in the 2nd quarter worth about $75,000. Blue Trust Inc. lifted its holdings in Ziff Davis by 72.4% during the 2nd quarter. Blue Trust Inc. now owns 1,686 shares of the technology company’s stock valued at $93,000 after buying an additional 708 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale purchased a new stake in Ziff Davis in the 2nd quarter valued at about $93,000. 99.76% of the stock is owned by hedge funds and other institutional investors.

Ziff Davis Stock Performance

ZD opened at $57.31 on Friday. The firm has a fifty day moving average price of $48.41 and a 200 day moving average price of $50.12. Ziff Davis, Inc. has a 1 year low of $37.76 and a 1 year high of $70.90. The stock has a market cap of $2.45 billion, a P/E ratio of 48.57 and a beta of 1.29. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.42 and a quick ratio of 1.91.

Analyst Ratings Changes

A number of analysts recently weighed in on ZD shares. Barclays upped their price objective on shares of Ziff Davis from $44.00 to $61.00 and gave the stock an “equal weight” rating in a research note on Monday. Royal Bank of Canada reissued an “outperform” rating and issued a $95.00 price objective on shares of Ziff Davis in a research note on Friday, September 6th. Finally, Citigroup reduced their target price on shares of Ziff Davis from $52.00 to $47.00 and set a “neutral” rating for the company in a report on Friday, August 9th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Ziff Davis has an average rating of “Moderate Buy” and an average price target of $71.29.

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.