Rhumbline Advisers Sells 7,241 Shares of Ziff Davis, Inc. (NASDAQ:ZD)

Rhumbline Advisers lowered its stake in shares of Ziff Davis, Inc. (NASDAQ:ZD) by 5.4% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 126,983 shares of the technology company’s stock after selling 7,241 shares during the quarter. Rhumbline Advisers owned approximately 0.30% of Ziff Davis worth $4,772,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. boosted its stake in shares of Ziff Davis by 9.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 757,944 shares of the technology company’s stock valued at $41,187,000 after purchasing an additional 62,402 shares during the last quarter. Wells Fargo & Company MN boosted its stake in shares of Ziff Davis by 19.6% in the 4th quarter. Wells Fargo & Company MN now owns 28,506 shares of the technology company’s stock valued at $1,549,000 after purchasing an additional 4,670 shares during the last quarter. Franklin Resources Inc. boosted its stake in shares of Ziff Davis by 52.2% in the 4th quarter. Franklin Resources Inc. now owns 32,819 shares of the technology company’s stock valued at $1,783,000 after purchasing an additional 11,263 shares during the last quarter. Proficio Capital Partners LLC bought a new position in shares of Ziff Davis in the 4th quarter valued at about $1,426,000. Finally, KLP Kapitalforvaltning AS bought a new position in shares of Ziff Davis in the 4th quarter valued at about $533,000. Institutional investors own 99.76% of the company’s stock.

Ziff Davis Stock Performance

Shares of ZD stock opened at $30.78 on Friday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.42 and a current ratio of 1.42. The company has a market capitalization of $1.30 billion, a P/E ratio of 26.08 and a beta of 1.60. The company’s 50 day moving average price is $31.96 and its two-hundred day moving average price is $43.69. Ziff Davis, Inc. has a 52 week low of $29.15 and a 52 week high of $60.62.

Wall Street Analyst Weigh In

Several research firms recently weighed in on ZD. UBS Group set a $40.00 price objective on shares of Ziff Davis and gave the stock a “neutral” rating in a research note on Wednesday, May 14th. Susquehanna reduced their price objective on shares of Ziff Davis from $80.00 to $45.00 and set a “positive” rating on the stock in a research note on Monday, May 12th. Citigroup reduced their price objective on shares of Ziff Davis from $52.00 to $35.00 and set a “neutral” rating on the stock in a research note on Friday, April 25th. Barclays reduced their price objective on shares of Ziff Davis from $48.00 to $34.00 and set an “equal weight” rating on the stock in a research note on Tuesday, May 13th. Finally, JPMorgan Chase & Co. lowered shares of Ziff Davis from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $60.00 to $33.00 in a research note on Tuesday, April 22nd. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $47.00.

Ziff Davis Profile

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.