Clark Capital Management Group Inc. Takes $23.86 Million Position in Ziff Davis, Inc. (NASDAQ:ZD)

Clark Capital Management Group Inc. purchased a new stake in shares of Ziff Davis, Inc. (NASDAQ:ZDGet Rating) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 246,501 shares of the technology company’s stock, valued at approximately $23,856,000. Clark Capital Management Group Inc. owned approximately 0.52% of Ziff Davis at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. NN Investment Partners Holdings N.V. bought a new position in Ziff Davis in the first quarter valued at about $125,000. William Blair Investment Management LLC bought a new position in shares of Ziff Davis in the first quarter worth about $29,116,000. Bank of New York Mellon Corp bought a new position in shares of Ziff Davis in the first quarter worth about $69,176,000. Northwestern Mutual Investment Management Company LLC purchased a new stake in shares of Ziff Davis during the first quarter worth about $775,000. Finally, Jennison Associates LLC purchased a new stake in shares of Ziff Davis during the first quarter worth about $1,576,000. 99.02% of the stock is owned by institutional investors.

Insider Transactions at Ziff Davis

In other Ziff Davis news, Director Sarah Ann Fay purchased 1,162 shares of the firm’s stock in a transaction that occurred on Tuesday, August 16th. The stock was purchased at an average cost of $86.49 per share, with a total value of $100,501.38. Following the purchase, the director now owns 11,070 shares of the company’s stock, valued at $957,444.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 4.50% of the company’s stock.

Ziff Davis Stock Performance

NASDAQ ZD opened at $78.33 on Friday. The stock has a market capitalization of $3.70 billion, a PE ratio of 10.06 and a beta of 1.02. The business has a 50 day simple moving average of $80.49 and a two-hundred day simple moving average of $84.92. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.12 and a quick ratio of 2.12. Ziff Davis, Inc. has a 1-year low of $68.42 and a 1-year high of $143.09.

Ziff Davis (NASDAQ:ZDGet Rating) last announced its earnings results on Tuesday, August 9th. The technology company reported $1.58 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.19. The firm had revenue of $337.30 million during the quarter, compared to analysts’ expectations of $348.66 million. Ziff Davis had a return on equity of 18.69% and a net margin of 25.22%. The company’s quarterly revenue was down 1.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.36 EPS. On average, research analysts predict that Ziff Davis, Inc. will post 6.16 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on ZD shares. Susquehanna Bancshares cut their target price on Ziff Davis from $140.00 to $120.00 and set a “positive” rating for the company in a research report on Thursday, August 11th. Royal Bank of Canada cut their target price on Ziff Davis from $125.00 to $110.00 and set an “outperform” rating for the company in a research report on Thursday, August 11th. JMP Securities cut their target price on Ziff Davis from $110.00 to $100.00 and set a “market outperform” rating for the company in a research report on Thursday, August 11th. Finally, Susquehanna cut their target price on Ziff Davis from $140.00 to $120.00 and set a “positive” rating for the company in a research report on Thursday, August 11th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $106.67.

Ziff Davis Profile

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Ziff Davis, Inc, together with its subsidiaries, provides internet information and services in the United States, Canada, Ireland, and internationally. It operates in two segments, Digital Media, and Cybersecurity and Martech. The Digital Media segment operates a portfolio of web properties and apps, which include IGN, RetailMeNot, Mashable, PCMag, Humble Bundle, Speedtest, Offers, Black Friday, MedPageToday, Everyday Health, BabyCenter, and What to Expect, among others in the technology, shopping, entertainment, and health and wellness markets.

Further Reading

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Institutional Ownership by Quarter for Ziff Davis (NASDAQ:ZD)

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