Hsbc Holdings PLC Boosts Stock Position in Ziff Davis, Inc. $ZD

Hsbc Holdings PLC lifted its stake in Ziff Davis, Inc. (NASDAQ:ZD) by 6.7% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,447 shares of the technology company’s stock after buying an additional 468 shares during the quarter. Hsbc Holdings PLC’s holdings in Ziff Davis were worth $279,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Janney Montgomery Scott LLC acquired a new position in Ziff Davis in the 1st quarter worth about $736,000. GAMMA Investing LLC raised its holdings in Ziff Davis by 148.4% in the 1st 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. Principal Financial Group Inc. raised its holdings in Ziff Davis by 2.6% in the 1st quarter. Principal Financial Group Inc. now owns 212,797 shares of the technology company’s stock worth $7,997,000 after purchasing an additional 5,456 shares during the period. PNC Financial Services Group Inc. raised its holdings in Ziff Davis by 75.7% in the 1st quarter. PNC Financial Services Group Inc. now owns 6,139 shares of the technology company’s stock worth $231,000 after purchasing an additional 2,645 shares during the period. Finally, Envestnet Asset Management Inc. raised its holdings in Ziff Davis by 13.0% in the 1st quarter. Envestnet Asset Management Inc. now owns 13,450 shares of the technology company’s stock worth $505,000 after purchasing an additional 1,552 shares during the period. Hedge funds and other institutional investors own 99.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ZD. Piper Sandler set a $40.00 price target on Ziff Davis in a report on Friday, August 8th. Wall Street Zen raised Ziff Davis from a “hold” rating to a “buy” rating in a report on Saturday, August 9th. Barclays reaffirmed a “positive” rating on shares of Ziff Davis in a report on Friday, August 8th. UBS Group set a $40.00 target price on Ziff Davis and gave the company a “neutral” rating in a report on Wednesday, May 14th. Finally, Susquehanna reduced their target price on Ziff Davis from $80.00 to $45.00 and set a “positive” rating for the company in a report on Monday, May 12th. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, Ziff Davis presently has a consensus rating of “Moderate Buy” and an average price target of $46.86.

Ziff Davis Trading Up 0.3%

ZD opened at $37.36 on Friday. Ziff Davis, Inc. has a 52 week low of $28.55 and a 52 week high of $60.62. The business has a fifty day simple moving average of $33.90 and a 200-day simple moving average of $34.87. The firm has a market cap of $1.53 billion, a P/E ratio of 24.91 and a beta of 1.58. The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 0.47.

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

Ziff Davis Company 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.