Edgestream Partners L.P. Takes Position in Ziff Davis, Inc. $ZD

Edgestream Partners L.P. purchased a new position in shares of Ziff Davis, Inc. (NASDAQ:ZD) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 83,140 shares of the technology company’s stock, valued at approximately $3,489,000. Edgestream Partners L.P. owned 0.23% of Ziff Davis as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in ZD. Pale Fire Capital SE boosted its holdings in Ziff Davis by 130.0% in the 1st quarter. Pale Fire Capital SE now owns 2,783,366 shares of the technology company’s stock valued at $116,790,000 after purchasing an additional 1,573,414 shares in the last quarter. First Trust Advisors LP increased its position in Ziff Davis by 689.6% during the 1st quarter. First Trust Advisors LP now owns 974,591 shares of the technology company’s stock worth $40,894,000 after purchasing an additional 851,163 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of Ziff Davis by 260.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 597,573 shares of the technology company’s stock worth $21,005,000 after buying an additional 431,828 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of Ziff Davis by 88.5% during the 4th quarter. AQR Capital Management LLC now owns 399,259 shares of the technology company’s stock worth $14,034,000 after buying an additional 187,431 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in shares of Ziff Davis by 46.1% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 552,385 shares of the technology company’s stock valued at $21,046,000 after buying an additional 174,287 shares during the period. 99.76% of the stock is owned by hedge funds and other institutional investors.

Ziff Davis Price Performance

Shares of NASDAQ:ZD opened at $53.08 on Friday. The firm has a market capitalization of $1.95 billion, a price-to-earnings ratio of 46.97 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. The business’s 50 day simple moving average is $49.37 and its 200-day simple moving average is $43.09. Ziff Davis, Inc. has a 12 month low of $22.45 and a 12 month high of $54.97.

Ziff Davis (NASDAQ:ZD) last released its quarterly earnings data on Thursday, May 7th. The technology company reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.01. The firm had revenue of $267.64 million during the quarter, compared to the consensus estimate of $264.32 million. Ziff Davis had a return on equity of 12.17% and a net margin of 3.26%.Ziff Davis’s quarterly revenue was down 1.9% on a year-over-year basis. During the same period last year, the business posted $1.14 EPS.

Insider Buying and Selling at Ziff Davis

In related news, Director Kirk P. Mcdonald sold 1,075 shares of the firm’s stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $46.65, for a total transaction of $50,148.75. Following the sale, the director owned 13,468 shares in the company, valued at approximately $628,282.20. This trade represents a 7.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Jeremy Rossen sold 8,000 shares of the business’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 owned 14,462 shares of the company’s stock, valued at $679,714. This trade represents a 35.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 31,422 shares of company stock worth $1,468,864. 3.40% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts recently weighed in on ZD shares. Weiss Ratings upgraded Ziff Davis from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, June 1st. Susquehanna increased their price objective on Ziff Davis from $45.00 to $60.00 and gave the stock a “positive” rating in a research report on Tuesday, May 5th. Evercore reiterated an “outperform” rating and issued a $61.00 price objective on shares of Ziff Davis in a research report on Tuesday, May 12th. Zacks Research downgraded Ziff Davis from a “hold” rating to a “strong sell” rating in a report on Wednesday, May 6th. Finally, Barclays boosted their target price on shares of Ziff Davis from $45.00 to $48.00 and gave the stock an “equal weight” rating in a research report on Monday, May 11th. Three analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price 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.