Ziff Davis (NASDAQ:ZD) Reaches New 1-Year High on Analyst Upgrade

Ziff Davis, Inc. (NASDAQ:ZD) shares hit a new 52-week high during mid-day trading on Tuesday after Zacks Research upgraded the stock to a hold rating. The stock traded as high as $58.21 and last traded at $58.3150, with a volume of 221413 shares traded. The stock had previously closed at $57.35.

A number of other brokerages have also recently issued reports on ZD. Susquehanna raised their target price on shares of Ziff Davis from $60.00 to $75.00 and gave the stock a “positive” rating in a report on Monday, August 10th. UBS Group upped their price objective on Ziff Davis from $30.00 to $59.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 12th. Royal Bank Of Canada boosted their price target on shares of Ziff Davis from $48.00 to $65.00 and gave the company an “outperform” rating in a report on Monday, August 10th. Citigroup lifted their price objective on shares of Ziff Davis from $48.00 to $59.00 and gave the company a “neutral” rating in a research report on Monday, August 10th. Finally, JPMorgan Chase & Co. initiated coverage on Ziff Davis in a report on Friday, September 11th. They set a “neutral” rating and a $60.00 price target on the stock. Three analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Ziff Davis has an average rating of “Hold” and an average price target of $59.75.

Insiders Place Their Bets

In other news, CAO Lori Tansley sold 1,400 shares of the firm’s stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $54.76, for a total transaction of $76,664.00. Following the completion of the transaction, the chief accounting officer owned 767 shares in the company, valued at approximately $42,000.92. This trade represents a 64.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Jeremy Rossen sold 3,819 shares of Ziff Davis stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $54.93, for a total transaction of $209,777.67. Following the completion of the transaction, the executive vice president owned 10,643 shares in the company, valued at approximately $584,619.99. This trade represents a 26.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 7,732 shares of company stock worth $425,436. 3.40% of the stock is owned by corporate insiders.

Institutional Trading of Ziff Davis

Several hedge funds and other institutional investors have recently modified their holdings of the company. Hantz Financial Services Inc. grew its stake in Ziff Davis by 212.2% in the fourth quarter. Hantz Financial Services Inc. now owns 868 shares of the technology company’s stock valued at $31,000 after purchasing an additional 590 shares in the last quarter. Rockefeller Capital Management L.P. lifted its holdings in shares of Ziff Davis by 226.7% during the 4th quarter. Rockefeller Capital Management L.P. now owns 990 shares of the technology company’s stock valued at $35,000 after buying an additional 687 shares during the last quarter. Allworth Financial LP bought a new stake in shares of Ziff Davis in the 2nd quarter valued at approximately $44,000. TD Private Client Wealth LLC acquired a new position in Ziff Davis in the fourth quarter worth approximately $52,000. Finally, Integrated Wealth Concepts LLC acquired a new position in Ziff Davis in the second quarter worth approximately $58,000. 99.76% of the stock is currently owned by hedge funds and other institutional investors.

Ziff Davis Stock Performance

The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 0.32. The stock has a market cap of $2.01 billion, a P/E ratio of 3.32 and a beta of 1.09. The firm’s 50-day moving average is $54.49 and its two-hundred day moving average is $48.05.

Ziff Davis (NASDAQ:ZD) last issued its quarterly earnings data on Thursday, August 6th. The technology company reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.22. The firm had revenue of $286.74 million during the quarter, compared to analysts’ expectations of $286.10 million. Ziff Davis had a net margin of 48.57% and a return on equity of 10.73%. Ziff Davis’s revenue for the quarter was down 18.7% on a year-over-year basis. During the same period in the prior year, the company posted $1.24 earnings per share. As a group, research analysts expect that Ziff Davis, Inc. will post 4.26 EPS for the current year.

Ziff Davis Company Profile

Ziff Davis, Inc is a digital media and technology company that operates a portfolio of internet-based brands serving consumers and businesses. Its properties provide technology news and reviews, gaming and entertainment content, health and wellness information, shopping resources, and specialized business media.

The company’s brands include PCMag, IGN, Mashable, Lifehacker, RetailMeNot, Humble Bundle, Spiceworks, Ookla and Speedtest, among others. Ziff Davis also offers cybersecurity, marketing technology and consumer subscription services, including products and platforms designed to support privacy, online security, connectivity testing and digital engagement.

Ziff Davis traces its roots to the publishing company founded by William B.