PNC Financial Services Group Inc. Acquires 2,645 Shares of Ziff Davis, Inc. $ZD

PNC Financial Services Group Inc. grew its holdings in Ziff Davis, Inc. (NASDAQ:ZD) by 75.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,139 shares of the technology company’s stock after acquiring an additional 2,645 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Ziff Davis were worth $231,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. GAMMA Investing LLC lifted its position in Ziff Davis by 148.4% in the first quarter. GAMMA Investing LLC now owns 713 shares of the technology company’s stock worth $27,000 after purchasing an additional 426 shares during the period. Sterling Capital Management LLC lifted its position in Ziff Davis by 786.0% in the fourth quarter. Sterling Capital Management LLC now owns 1,391 shares of the technology company’s stock worth $76,000 after purchasing an additional 1,234 shares during the period. Tower Research Capital LLC TRC lifted its position in Ziff Davis by 118.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,605 shares of the technology company’s stock worth $196,000 after purchasing an additional 1,952 shares during the period. Western Wealth Management LLC bought a new position in Ziff Davis in the fourth quarter worth $217,000. Finally, Hancock Whitney Corp acquired a new position in Ziff Davis during the fourth quarter worth $232,000. 99.76% of the stock is owned by institutional investors.

Ziff Davis Price Performance

Shares of ZD stock opened at $36.40 on Monday. The stock has a 50-day moving average price of $32.39 and a 200 day moving average price of $36.16. The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 0.47. The firm has a market cap of $1.49 billion, a price-to-earnings ratio of 24.27 and a beta of 1.63. Ziff Davis, Inc. has a 12 month low of $28.55 and a 12 month high of $60.62.

Ziff Davis (NASDAQ:ZD) last announced its quarterly earnings data on Wednesday, August 6th. The technology company reported $1.24 EPS for the quarter, topping analysts’ consensus estimates of $1.22 by $0.02. Ziff Davis had a return on equity of 13.91% and a net margin of 4.57%. The firm had revenue of $352.21 million during the quarter, compared to analyst estimates of $337.47 million. During the same period last year, the company earned $1.18 earnings per share. The company’s revenue was up 10.0% on a year-over-year basis. Research analysts expect that Ziff Davis, Inc. will post 5.93 EPS for the current year.

Analyst Ratings Changes

Several research analysts have issued reports on ZD shares. UBS Group set a $40.00 price objective on Ziff Davis and gave the stock a “neutral” rating in a research note on Wednesday, May 14th. Citigroup dropped their price objective on Ziff Davis from $52.00 to $35.00 and set a “neutral” rating for the company in a research note on Friday, April 25th. JPMorgan Chase & Co. lowered Ziff Davis from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $60.00 to $33.00 in a research note on Tuesday, April 22nd. Barclays restated a “positive” rating on shares of Ziff Davis in a research note on Friday, August 8th. Finally, Susquehanna lowered their target price on Ziff Davis from $80.00 to $45.00 and set a “positive” rating for the company in a research note on Monday, May 12th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Ziff Davis currently has a consensus rating of “Moderate Buy” and an average price target of $46.86.

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.