GAMMA Investing LLC Grows Stake in Ziff Davis, Inc. (NASDAQ:ZD)

GAMMA Investing LLC increased its holdings in shares of Ziff Davis, Inc. (NASDAQ:ZD) by 9,236.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 26,795 shares of the technology company’s stock after purchasing an additional 26,508 shares during the quarter. GAMMA Investing LLC owned 0.06% of Ziff Davis worth $1,007,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Handelsbanken Fonder AB increased its position in Ziff Davis by 22.4% in the fourth quarter. Handelsbanken Fonder AB now owns 12,016 shares of the technology company’s stock worth $653,000 after buying an additional 2,200 shares in the last quarter. First Horizon Advisors Inc. grew its holdings in Ziff Davis by 42.9% during the 4th quarter. First Horizon Advisors Inc. now owns 866 shares of the technology company’s stock valued at $47,000 after buying an additional 260 shares in the last quarter. Illinois Municipal Retirement Fund purchased a new position in Ziff Davis during the 4th quarter valued at approximately $1,283,000. Proficio Capital Partners LLC bought a new stake in shares of Ziff Davis in the 4th quarter valued at approximately $1,426,000. Finally, Versor Investments LP bought a new stake in shares of Ziff Davis in the 4th quarter valued at approximately $368,000. 99.76% of the stock is owned by institutional investors.

Ziff Davis Stock Performance

Shares of ZD stock opened at $31.40 on Tuesday. The stock has a market cap of $1.32 billion, a PE ratio of 26.61 and a beta of 1.60. Ziff Davis, Inc. has a 52-week low of $29.15 and a 52-week high of $60.62. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.49. The business has a 50-day simple moving average of $31.96 and a 200-day simple moving average of $43.30.

Analyst Upgrades and Downgrades

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

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.