Bank of Montreal Can Acquires 5,709 Shares of Ziff Davis, Inc. $ZD

Bank of Montreal Can raised its holdings in Ziff Davis, Inc. (NASDAQ:ZD) by 84.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 12,472 shares of the technology company’s stock after purchasing an additional 5,709 shares during the quarter. Bank of Montreal Can’s holdings in Ziff Davis were worth $378,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Nordea Investment Management AB grew its position in Ziff Davis by 3.5% in the second quarter. Nordea Investment Management AB now owns 1,035,836 shares of the technology company’s stock valued at $31,438,000 after acquiring an additional 35,197 shares during the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd bought a new position in shares of Ziff Davis in the second quarter worth about $1,967,000. AlphaQuest LLC acquired a new stake in shares of Ziff Davis in the 2nd quarter valued at approximately $267,000. Atria Investments Inc grew its holdings in shares of Ziff Davis by 17.8% during the 2nd quarter. Atria Investments Inc now owns 13,860 shares of the technology company’s stock valued at $420,000 after purchasing an additional 2,096 shares during the last quarter. Finally, Fort Washington Investment Advisors Inc. OH increased its position in Ziff Davis by 13.3% during the 2nd quarter. Fort Washington Investment Advisors Inc. OH now owns 414,105 shares of the technology company’s stock worth $12,535,000 after purchasing an additional 48,655 shares in the last quarter. Institutional investors and hedge funds own 99.76% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on ZD. Piper Sandler set a $40.00 target price on shares of Ziff Davis in a research report on Friday, August 8th. Citigroup dropped their price target on Ziff Davis from $42.00 to $35.00 and set a “neutral” rating for the company in a research note on Monday, November 10th. Wall Street Zen downgraded Ziff Davis from a “buy” rating to a “hold” rating in a report on Saturday. Zacks Research lowered Ziff Davis from a “hold” rating to a “strong sell” rating in a research report on Friday, November 14th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Ziff Davis in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Reduce” and an average price target of $37.50.

Insider Buying and Selling

In other news, Director Sarah Ann Fay bought 1,354 shares of the firm’s stock in a transaction on Monday, September 15th. The stock was acquired at an average price of $36.89 per share, with a total value of $49,949.06. Following the transaction, the director owned 23,619 shares of the company’s stock, valued at $871,304.91. This trade represents a 6.08% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 2.16% of the stock is owned by insiders.

Ziff Davis Stock Down 0.7%

Shares of NASDAQ:ZD opened at $29.61 on Wednesday. The firm has a market cap of $1.17 billion, a P/E ratio of 19.74 and a beta of 1.61. 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, Inc. has a 12-month low of $28.55 and a 12-month high of $60.62. The business has a fifty day simple moving average of $35.88 and a 200 day simple moving average of $34.21.

Ziff Davis (NASDAQ:ZD) last released its quarterly earnings results on Thursday, November 6th. The technology company reported $1.76 EPS for the quarter, meeting analysts’ consensus estimates of $1.76. The firm had revenue of $363.71 million for the quarter, compared to analyst estimates of $366.44 million. Ziff Davis had a return on equity of 13.91% and a net margin of 4.57%.The business’s revenue was up 2.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.64 EPS. Ziff Davis has set its FY 2025 guidance at 6.640-7.28 EPS. Analysts predict that Ziff Davis, Inc. will post 5.93 earnings per share for the current 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.