Russell Investments Group Ltd. Reduces Stock Holdings in Ziff Davis, Inc. $ZD

Russell Investments Group Ltd. decreased its position in Ziff Davis, Inc. (NASDAQ:ZD) by 61.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 63,375 shares of the technology company’s stock after selling 101,887 shares during the period. Russell Investments Group Ltd. owned about 0.15% of Ziff Davis worth $2,382,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the company. Public Sector Pension Investment Board lifted its stake in Ziff Davis by 27.3% in the first quarter. Public Sector Pension Investment Board now owns 135,522 shares of the technology company’s stock valued at $5,093,000 after purchasing an additional 29,030 shares during the last quarter. Nuveen LLC purchased a new position in Ziff Davis in the first quarter valued at approximately $25,381,000. Invesco Ltd. lifted its stake in Ziff Davis by 12.5% in the first quarter. Invesco Ltd. now owns 186,248 shares of the technology company’s stock valued at $6,999,000 after purchasing an additional 20,630 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Ziff Davis in the first quarter valued at approximately $1,276,000. Finally, Headlands Technologies LLC lifted its stake in Ziff Davis by 345.4% in the first quarter. Headlands Technologies LLC now owns 16,383 shares of the technology company’s stock valued at $616,000 after purchasing an additional 12,705 shares during the last quarter. Hedge funds and other institutional investors own 99.76% of the company’s stock.

Analysts Set New Price Targets

ZD has been the topic of several research analyst reports. UBS Group set a $40.00 price objective on Ziff Davis and gave the company a “neutral” rating in a research note on Wednesday, May 14th. 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 report on Monday, May 12th. Piper Sandler set a $40.00 target price on Ziff Davis in a research report on Friday, August 8th. Barclays restated a “positive” rating on shares of Ziff Davis in a research report on Friday, August 8th. Finally, Wall Street Zen upgraded Ziff Davis from a “hold” rating to a “buy” rating in a research report on Saturday, August 9th. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Ziff Davis has a consensus rating of “Moderate Buy” and a consensus price target of $46.86.

Ziff Davis Trading Down 0.9%

Shares of ZD stock opened at $37.87 on Tuesday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.59 and a current ratio of 1.59. Ziff Davis, Inc. has a 52-week low of $28.55 and a 52-week high of $60.62. The company has a market capitalization of $1.55 billion, a PE ratio of 25.25 and a beta of 1.63. The business’s fifty day moving average is $32.91 and its 200 day moving average is $35.49.

Ziff Davis (NASDAQ:ZD) last issued its quarterly earnings data on Wednesday, August 6th. The technology company reported $1.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.22 by $0.02. The company had revenue of $352.21 million for the quarter, compared to the consensus estimate of $337.47 million. Ziff Davis had a return on equity of 13.91% and a net margin of 4.57%.The firm’s revenue was up 10.0% compared to the same quarter last year. During the same quarter last year, the business posted $1.18 earnings per share. On average, equities research analysts anticipate that Ziff Davis, Inc. will post 5.93 EPS for the current fiscal year.

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.