Ziff Davis (NASDAQ:ZD) Reaches New 52-Week Low – Here’s Why

Shares of Ziff Davis, Inc. (NASDAQ:ZD) hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $37.62 and last traded at $38.10, with a volume of 18252 shares. The stock had previously closed at $38.17.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on ZD shares. Citigroup dropped their target price on shares of Ziff Davis from $58.00 to $52.00 and set a “neutral” rating for the company in a report on Wednesday, February 26th. JPMorgan Chase & Co. dropped their price objective on shares of Ziff Davis from $70.00 to $60.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. Barclays upped their target price on Ziff Davis from $44.00 to $61.00 and gave the company an “equal weight” rating in a research note on Monday, November 11th. Finally, UBS Group dropped their price target on Ziff Davis from $65.00 to $56.00 and set a “neutral” rating for the company in a research report on Wednesday, February 26th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $65.67.

Ziff Davis Price Performance

The company’s 50 day simple moving average is $52.03 and its 200 day simple moving average is $51.34. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $1.64 billion, a PE ratio of 32.56 and a beta of 1.42.

Insider Activity at Ziff Davis

In related news, Director Sarah Ann Fay bought 1,282 shares of the stock in a transaction that occurred on Tuesday, March 4th. The stock was purchased at an average cost of $39.00 per share, for a total transaction of $49,998.00. Following the completion of the acquisition, the director now owns 18,655 shares in the company, valued at $727,545. This trade represents a 7.38 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.08% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in ZD. Millstone Evans Group LLC acquired a new position in Ziff Davis during the fourth quarter valued at approximately $35,000. Quadrant Capital Group LLC lifted its holdings in shares of Ziff Davis by 278.9% during the 4th quarter. Quadrant Capital Group LLC now owns 663 shares of the technology company’s stock valued at $36,000 after acquiring an additional 488 shares in the last quarter. Summit Securities Group LLC acquired a new position in shares of Ziff Davis during the 4th quarter valued at $37,000. Wilmington Savings Fund Society FSB purchased a new stake in Ziff Davis during the 3rd quarter worth $37,000. Finally, First Horizon Advisors Inc. increased its holdings in Ziff Davis by 42.9% in the 4th quarter. First Horizon Advisors Inc. now owns 866 shares of the technology company’s stock valued at $47,000 after purchasing an additional 260 shares in the last quarter. 99.76% of the stock is owned by hedge funds and other institutional investors.

Ziff Davis Company Profile

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.