AlphaCrest Capital Management LLC Invests $634,000 in Ziff Davis, Inc. (NASDAQ:ZD)

AlphaCrest Capital Management LLC acquired a new position in Ziff Davis, Inc. (NASDAQ:ZD – Get Rating) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 9,251 shares of the technology company’s stock, valued at approximately $634,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Zions Bancorporation N.A. purchased a new position in Ziff Davis in the 1st quarter worth $25,000. Ronald Blue Trust Inc. purchased a new position in Ziff Davis in the 2nd quarter worth $30,000. Quadrant Capital Group LLC raised its stake in Ziff Davis by 622.0% in the 3rd quarter. Quadrant Capital Group LLC now owns 722 shares of the technology company’s stock worth $49,000 after acquiring an additional 622 shares during the last quarter. New Millennium Group LLC purchased a new position in Ziff Davis in the 2nd quarter worth $57,000. Finally, Captrust Financial Advisors purchased a new position in Ziff Davis in the 1st quarter worth $100,000. Hedge funds and other institutional investors own 99.11% of the company’s stock.

Ziff Davis Price Performance

NASDAQ:ZD opened at $77.80 on Thursday. Ziff Davis, Inc. has a 52 week low of $66.85 and a 52 week high of $103.87. The company has a quick ratio of 2.51, a current ratio of 2.51 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $3.68 billion, a PE ratio of 62.24 and a beta of 1.15. The stock’s 50-day moving average price is $84.23 and its 200-day moving average price is $80.83.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Robert W. Baird reduced their price objective on Ziff Davis from $100.00 to $95.00 and set an “outperform” rating for the company in a research note on Thursday, November 10th. Barclays assumed coverage on Ziff Davis in a research note on Friday, January 6th. They set an “equal weight” rating and a $88.00 price objective for the company. Citigroup reduced their price objective on Ziff Davis from $100.00 to $90.00 and set a “neutral” rating for the company in a research note on Friday, February 17th. TheStreet upgraded Ziff Davis from a “c+” rating to a “b-” rating in a research note on Tuesday, November 29th. Finally, JPMorgan Chase & Co. lowered Ziff Davis from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $115.00 to $85.00 in a research note on Tuesday, December 20th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $98.80.

About Ziff Davis

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Ziff Davis, Inc is a digital media and internet company. It operates through the following segments: Digital Media and Cybersecurity and Martech. The Digital Media segment consists of 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.