Ziff Davis (NASDAQ:ZD) Share Price Breaks Above 50-Day Moving Average – Here’s Why

Ziff Davis, Inc. (NASDAQ:ZD)’s share price crossed above its fifty day moving average during trading on Wednesday. The stock has a fifty day moving average of $56.44 and traded as high as $58.18. Ziff Davis shares last traded at $56.75, with a volume of 712,301 shares.

Wall Street Analyst Weigh In

Several brokerages have recently commented on ZD. Evercore restated an “outperform” rating and issued a $64.00 target price on shares of Ziff Davis in a research note on Monday, August 10th. Susquehanna increased their target price on shares of Ziff Davis from $60.00 to $75.00 and gave the stock a “positive” rating in a research report on Monday, August 10th. Royal Bank Of Canada lifted 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. UBS Group boosted their price target on shares of Ziff Davis from $30.00 to $59.00 and gave the company a “neutral” rating in a research report on Wednesday, August 12th. Finally, Zacks Research raised shares of Ziff Davis to a “hold” rating in a research note on Tuesday, September 15th. Four analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $60.67.

Ziff Davis Stock Up 5.1%

The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.16 and a current ratio of 2.16. The firm’s 50-day moving average is $56.44 and its two-hundred day moving average is $47.56. The stock has a market cap of $1.95 billion, a P/E ratio of 3.21 and a beta of 1.10.

Ziff Davis (NASDAQ:ZD) last announced its quarterly earnings data on Thursday, August 6th. The technology company reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.22. The firm had revenue of $286.74 million for the quarter, compared to analyst estimates of $286.10 million. Ziff Davis had a return on equity of 10.73% and a net margin of 48.57%. The business’s quarterly revenue was down 18.7% compared to the same quarter last year. During the same period last year, the company earned $1.24 EPS. On average, equities research analysts anticipate that Ziff Davis, Inc. will post 4.41 earnings per share for the current year.

Insider Activity

In related news, EVP Jeremy Rossen sold 3,819 shares of Ziff Davis stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $54.93, for a total value of $209,777.67. Following the completion of the sale, the executive vice president directly owned 10,643 shares in the company, valued at $584,619.99. This trade represents a 26.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director W. Brian Kretzmer sold 2,513 shares of the business’s stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $55.31, for a total value of $138,994.03. Following the sale, the director directly owned 20,000 shares of the company’s stock, valued at $1,106,200. This represents a 11.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 7,732 shares of company stock valued at $425,436 over the last 90 days. 3.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Jupiter Topco LLC bought a new stake in Ziff Davis in the second quarter valued at approximately $187,893,000. Legal & General Group Plc acquired a new stake in Ziff Davis in the second quarter worth $94,314,000. Pale Fire Capital SE raised its holdings in Ziff Davis by 130.0% in the first quarter. Pale Fire Capital SE now owns 2,783,366 shares of the technology company’s stock worth $116,790,000 after purchasing an additional 1,573,414 shares during the period. First Trust Advisors LP boosted its position in shares of Ziff Davis by 689.6% during the first 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 in the last quarter. Finally, Rice Hall James & Associates LLC bought a new position in shares of Ziff Davis during the second quarter worth $43,022,000. Institutional investors own 99.76% of the company’s stock.

Ziff Davis Company Profile

Ziff Davis, Inc is a digital media and technology company that operates a portfolio of online brands serving consumers, technology professionals, businesses and advertisers. Its properties cover technology, gaming and entertainment, shopping, health and wellness, and related digital services.

The company’s brands include PCMag, Mashable, IGN, Humble Bundle, RetailMeNot, Spiceworks, Ookla and its Speedtest and Downdetector services, as well as health and wellness publications and platforms operated through its Everyday Health Group.