Ziff Davis, Inc. (NASDAQ:ZD) Short Interest Down 16.8% in March

Ziff Davis, Inc. (NASDAQ:ZD) was the target of a significant decline in short interest in March. As of March 31st, there was short interest totalling 2,380,000 shares, a decline of 16.8% from the March 15th total of 2,860,000 shares. Approximately 5.6% of the shares of the stock are sold short. Based on an average daily trading volume, of 496,900 shares, the days-to-cover ratio is presently 4.8 days.

Insider Activity

In other news, Director W Brian Kretzmer purchased 653 shares of Ziff Davis stock in a transaction dated Thursday, March 6th. The shares were purchased at an average price of $38.33 per share, with a total value of $25,029.49. Following the transaction, the director now owns 12,968 shares in the company, valued at $497,063.44. This represents a 5.30 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Bret Richter acquired 2,500 shares of Ziff Davis stock in a transaction that occurred on Wednesday, March 5th. The stock was bought at an average price of $39.21 per share, for a total transaction of $98,025.00. Following the completion of the acquisition, the chief financial officer now owns 16,339 shares in the company, valued at $640,652.19. This trade represents a 18.06 % increase in their position. The disclosure for this purchase can be found here. Insiders acquired 5,028 shares of company stock worth $198,024 over the last three months. 2.16% of the stock is currently owned by corporate insiders.

Institutional Trading of Ziff Davis

Several hedge funds have recently made changes to their positions in ZD. GAMMA Investing LLC grew its position in shares of Ziff Davis by 148.4% in the first quarter. GAMMA Investing LLC now owns 713 shares of the technology company’s stock valued at $27,000 after purchasing an additional 426 shares during the period. Millstone Evans Group LLC acquired a new stake in Ziff Davis during the 4th quarter worth approximately $35,000. Quadrant Capital Group LLC lifted its position in Ziff Davis by 278.9% during the fourth quarter. Quadrant Capital Group LLC now owns 663 shares of the technology company’s stock valued at $36,000 after buying an additional 488 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Ziff Davis during the 3rd quarter valued at $37,000. Finally, Summit Securities Group LLC acquired a new position in shares of Ziff Davis during the fourth quarter worth about $37,000. Institutional investors and hedge funds own 99.76% of the company’s stock.

Ziff Davis Trading Down 1.9 %

Shares of ZD stock opened at $30.48 on Friday. Ziff Davis has a twelve month low of $30.20 and a twelve month high of $60.62. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.49. The business’s 50 day moving average is $40.27 and its two-hundred day moving average is $48.62. The company has a market capitalization of $1.31 billion, a P/E ratio of 25.83 and a beta of 1.47.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. UBS Group dropped their price objective on shares of Ziff Davis from $65.00 to $56.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 26th. JPMorgan Chase & Co. decreased their price target on Ziff Davis from $70.00 to $60.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. Finally, Citigroup cut their target price on Ziff Davis from $58.00 to $52.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 26th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $65.67.

About Ziff Davis

Ziff Davis, Inc, together with its subsidiaries, operates as a digital media and internet company in the United States and internationally. The company offers PCMag, an online resource for laboratory-based product reviews, technology news, buying guides, and research papers; Mashable for publishing technology and culture content; Spiceworks Ziff Davis provides digital content of IT products and services; retailMeNot, a savings destination platform; Offers.com, a coupon and deals website; and event-based properties, including BlackFriday.com, TheBlackFriday.com, BestBlackFriday.com, and DealsofAmerica.com.