Corsair Capital Management L.P. Makes New Investment in Ziff Davis, Inc. $ZD

Corsair Capital Management L.P. bought a new position in shares of Ziff Davis, Inc. (NASDAQ:ZD) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 45,000 shares of the technology company’s stock, valued at approximately $1,888,000. Ziff Davis accounts for 0.3% of Corsair Capital Management L.P.’s portfolio, making the stock its 28th largest position. Corsair Capital Management L.P. owned about 0.12% of Ziff Davis at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Public Employees Retirement System of Ohio boosted its position in shares of Ziff Davis by 17.1% during the first quarter. Public Employees Retirement System of Ohio now owns 2,189 shares of the technology company’s stock valued at $92,000 after purchasing an additional 319 shares in the last quarter. NBC Securities Inc. raised its holdings in Ziff Davis by 121.2% in the fourth quarter. NBC Securities Inc. now owns 885 shares of the technology company’s stock worth $31,000 after purchasing an additional 485 shares in the last quarter. California State Teachers Retirement System lifted its position in Ziff Davis by 1.4% during the second quarter. California State Teachers Retirement System now owns 41,167 shares of the technology company’s stock valued at $1,246,000 after buying an additional 550 shares during the period. Hantz Financial Services Inc. lifted its position in Ziff Davis by 212.2% during the fourth quarter. Hantz Financial Services Inc. now owns 868 shares of the technology company’s stock valued at $31,000 after buying an additional 590 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in shares of Ziff Davis by 207.1% during the 4th quarter. GAMMA Investing LLC now owns 906 shares of the technology company’s stock valued at $32,000 after buying an additional 611 shares in the last quarter. Institutional investors own 99.76% of the company’s stock.

Insider Activity

In other news, Director Kirk P. Mcdonald sold 1,075 shares of the stock in a transaction on Monday, June 8th. The stock was sold at an average price of $46.65, for a total transaction of $50,148.75. Following the transaction, the director directly owned 13,468 shares of the company’s stock, valued at $628,282.20. This represents a 7.39% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Jeremy Rossen sold 8,000 shares of the firm’s stock in a transaction on Friday, June 5th. The stock was 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 in the company, valued at approximately $679,714. This trade represents a 35.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 31,422 shares of company stock valued at $1,468,864 in the last ninety days. 3.40% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

ZD has been the topic of a number of recent research reports. Royal Bank Of Canada upped their target price on shares of Ziff Davis from $40.00 to $48.00 and gave the stock an “outperform” rating in a research report on Monday, May 11th. Evercore reissued an “outperform” rating and set a $61.00 price objective on shares of Ziff Davis in a research note on Tuesday, May 12th. Zacks Research cut shares of Ziff Davis from a “hold” rating to a “strong sell” rating in a report on Wednesday, May 6th. Barclays upped their price objective on shares of Ziff Davis from $45.00 to $48.00 and gave the stock an “equal weight” rating in a report on Monday, May 11th. Finally, Weiss Ratings upgraded shares of Ziff Davis from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, June 1st. Three analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $47.25.

Ziff Davis Stock Performance

Shares of ZD stock opened at $51.60 on Monday. The company’s 50-day moving average is $48.29 and its 200 day moving average is $42.51. The company has a market capitalization of $1.90 billion, a price-to-earnings ratio of 45.66 and a beta of 1.08. Ziff Davis, Inc. has a one year low of $22.45 and a one year high of $54.97. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.66 and a current ratio of 1.66.

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

About Ziff Davis

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.