Mark Ghermezian Acquires 4,355 Shares of Zedge, Inc. (NYSEAMERICAN:ZDGE) Stock

Zedge, Inc. (NYSEAMERICAN:ZDGEGet Rating) Director Mark Ghermezian purchased 4,355 shares of the company’s stock in a transaction dated Monday, April 18th. The shares were acquired at an average cost of $5.81 per share, for a total transaction of $25,302.55. Following the transaction, the director now owns 28,253 shares of the company’s stock, valued at $164,149.93. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink.

Shares of NYSEAMERICAN:ZDGE traded up $0.03 during trading on Tuesday, hitting $5.95. 1,857 shares of the company were exchanged, compared to its average volume of 114,388. The firm has a market capitalization of $82.56 million, a price-to-earnings ratio of 9.97 and a beta of 0.93. Zedge, Inc. has a fifty-two week low of $4.99 and a fifty-two week high of $19.90.

Zedge (NYSEAMERICAN:ZDGEGet Rating) last issued its earnings results on Tuesday, March 15th. The company reported $0.16 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.15 by $0.01. Zedge had a return on equity of 26.15% and a net margin of 37.67%.

Hedge funds and other institutional investors have recently modified their holdings of the company. Morgan Stanley grew its holdings in Zedge by 936.6% in the 1st quarter. Morgan Stanley now owns 16,555 shares of the company’s stock valued at $200,000 after buying an additional 14,958 shares in the last quarter. Advisor Group Holdings Inc. grew its holdings in Zedge by 15.1% in the 3rd quarter. Advisor Group Holdings Inc. now owns 11,435 shares of the company’s stock valued at $153,000 after buying an additional 1,500 shares in the last quarter. BlackRock Inc. grew its holdings in Zedge by 4.4% in the 3rd quarter. BlackRock Inc. now owns 78,167 shares of the company’s stock valued at $1,043,000 after buying an additional 3,283 shares in the last quarter. Barclays PLC grew its holdings in Zedge by 287.5% in the 3rd quarter. Barclays PLC now owns 2,139 shares of the company’s stock valued at $29,000 after buying an additional 1,587 shares in the last quarter. Finally, Goldman Sachs Group Inc. acquired a new position in Zedge in the 3rd quarter valued at $145,000. Institutional investors own 23.11% of the company’s stock.

Separately, Maxim Group began coverage on Zedge in a research report on Thursday, April 14th. They issued a “buy” rating and a $16.00 target price on the stock.

About Zedge (Get Rating)

Zedge, Inc operates a digital publishing and content platform worldwide. Its platform enables consumers to personalize their mobile devices with ringtones, home screen app icons, wallpapers, widgets, and notification sounds. The company was incorporated in 2008 and is based in New York, New York.

Further Reading

Insider Buying and Selling by Quarter for Zedge (NYSEAMERICAN:ZDGE)

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