Bank of New York Mellon Corp Raises Stake in Ziff Davis, Inc. (NASDAQ:ZD)

Bank of New York Mellon Corp raised its stake in Ziff Davis, Inc. (NASDAQ:ZD – Get Rating) by 2.4% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 708,229 shares of the technology company’s stock after buying an additional 16,902 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.50% of Ziff Davis worth $48,499,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Zions Bancorporation N.A. purchased a new position in shares of Ziff Davis during the 1st quarter worth $25,000. Ronald Blue Trust Inc. purchased a new position in shares of Ziff Davis during the 2nd quarter worth $30,000. Quadrant Capital Group LLC boosted its position in shares of Ziff Davis by 622.0% during the third quarter. Quadrant Capital Group LLC now owns 722 shares of the technology company’s stock worth $49,000 after buying an additional 622 shares during the period. New Millennium Group LLC acquired a new stake in shares of Ziff Davis in the second quarter valued at $57,000. Finally, Ellevest Inc. grew its stake in shares of Ziff Davis by 737.0% in the third quarter. Ellevest Inc. now owns 1,063 shares of the technology company’s stock valued at $73,000 after buying an additional 936 shares in the last quarter. 99.11% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ZD has been the subject of a number of research reports. Barclays initiated coverage on Ziff Davis in a research note on Friday, January 6th. They issued an “equal weight” rating and a $88.00 price objective for the company. JPMorgan Chase & Co. cut Ziff Davis from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $115.00 to $85.00 in a research note on Tuesday, December 20th. TheStreet raised Ziff Davis from a “c+” rating to a “b-” rating in a research note on Tuesday, November 29th. Finally, Citigroup dropped 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. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $98.80.

Ziff Davis Trading Down 2.9 %

ZD opened at $73.81 on Friday. The stock has a market capitalization of $3.49 billion, a price-to-earnings ratio of 59.05 and a beta of 1.15. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.51 and a quick ratio of 2.51. The business has a fifty day moving average price of $84.07 and a 200 day moving average price of $80.74. Ziff Davis, Inc. has a 12 month low of $66.85 and a 12 month high of $103.87.

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.