Zedge (NYSEAMERICAN:ZDGE) Releases Earnings Results, Beats Estimates By $0.02 EPS

Zedge (NYSEAMERICAN:ZDGE) announced its quarterly earnings results on Thursday. The company reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.02, FiscalAI reports. Zedge had a positive return on equity of 10.36% and a negative net margin of 6.03%.The firm had revenue of $7.99 million for the quarter, compared to the consensus estimate of $7.00 million.

Zedge Stock Up 6.1%

ZDGE traded up $0.19 during midday trading on Thursday, reaching $3.31. The company had a trading volume of 238,730 shares, compared to its average volume of 71,991. The business has a 50-day moving average of $3.06 and a two-hundred day moving average of $3.09. The company has a market cap of $41.44 million, a P/E ratio of -22.07 and a beta of 1.26. Zedge has a 1 year low of $2.21 and a 1 year high of $4.89.

Zedge Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Monday, April 6th were given a $0.02 dividend. The ex-dividend date was Monday, April 6th. This is a positive change from Zedge’s previous quarterly dividend of $0.02. This represents a $0.08 dividend on an annualized basis and a yield of 2.4%. Zedge’s dividend payout ratio (DPR) is currently -8.96%.

Institutional Trading of Zedge

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Raymond James Financial Inc. bought a new stake in shares of Zedge in the 2nd quarter valued at approximately $40,000. Goldman Sachs Group Inc. lifted its stake in shares of Zedge by 35.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 42,029 shares of the company’s stock worth $138,000 after acquiring an additional 11,022 shares during the last quarter. Squarepoint Ops LLC bought a new stake in shares of Zedge during the 3rd quarter worth approximately $37,000. Arrowstreet Capital Limited Partnership bought a new stake in shares of Zedge during the 3rd quarter worth approximately $87,000. Finally, Citadel Advisors LLC lifted its stake in shares of Zedge by 304.7% during the 3rd quarter. Citadel Advisors LLC now owns 49,520 shares of the company’s stock worth $144,000 after acquiring an additional 37,285 shares during the last quarter. Hedge funds and other institutional investors own 29.37% of the company’s stock.

Zedge Company Profile

Zedge, Inc (NYSE American: ZDGE) is a digital media and technology company that operates a mobile personalization platform. Through its flagship Zedge app and website, the company provides consumers with a wide range of downloadable digital content, including wallpapers, ringtones, notification sounds, app icons and lock screens. The platform accommodates both free and premium content, enabling users to customize their smartphones and tablets according to personal taste.

The company’s platform features content created by independent designers and established media brands, and it supports multiple languages and regional preferences.