Wellington Management Group LLP lowered its position in ZAGG Inc (NASDAQ:ZAGG) by 27.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 331,600 shares of the specialty retailer’s stock after selling 127,800 shares during the period. Wellington Management Group LLP owned approximately 1.19% of ZAGG worth $2,388,000 as of its most recent SEC filing.
Other institutional investors have also recently modified their holdings of the company. American International Group Inc. raised its position in shares of ZAGG by 7.0% in the first quarter. American International Group Inc. now owns 16,976 shares of the specialty retailer’s stock worth $122,000 after buying an additional 1,117 shares during the last quarter. Wedbush Securities Inc. purchased a new position in shares of ZAGG during the first quarter worth $130,000. Brandes Investment Partners LP raised its position in shares of ZAGG by 86.9% in the first quarter. Brandes Investment Partners LP now owns 19,621 shares of the specialty retailer’s stock worth $141,000 after buying an additional 9,122 shares during the last quarter. Strs Ohio raised its position in shares of ZAGG by 587.9% in the first quarter. Strs Ohio now owns 22,700 shares of the specialty retailer’s stock worth $163,000 after buying an additional 19,400 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of ZAGG by 0.4% in the first quarter. JPMorgan Chase & Co. now owns 24,142 shares of the specialty retailer’s stock worth $174,000 after buying an additional 91 shares during the last quarter. 78.77% of the stock is currently owned by institutional investors.
ZAGG Inc (ZAGG) opened at 8.55 on Monday. The stock’s 50 day moving average price is $8.49 and its 200-day moving average price is $7.31. The firm’s market capitalization is $239.07 million. ZAGG Inc has a 12 month low of $5.15 and a 12 month high of $9.15.
ZAGG (NASDAQ:ZAGG) last released its earnings results on Tuesday, May 2nd. The specialty retailer reported ($0.12) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.13) by $0.01. The company had revenue of $92.95 million during the quarter, compared to analysts’ expectations of $88.29 million. ZAGG had a positive return on equity of 4.81% and a negative net margin of 4.26%. Equities analysts anticipate that ZAGG Inc will post $0.77 EPS for the current fiscal year.
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A number of brokerages have recently weighed in on ZAGG. Roth Capital set a $9.00 target price on ZAGG and gave the stock a “hold” rating in a research report on Saturday, June 17th. Wunderlich reaffirmed a “buy” rating and set a $10.00 target price on shares of ZAGG in a research report on Friday, June 9th. Zacks Investment Research lowered ZAGG from a “buy” rating to a “hold” rating in a research report on Wednesday, May 10th. Finally, TheStreet raised ZAGG from a “d+” rating to a “c-” rating in a research report on Friday, May 5th.
ZAGG Company Profile
ZAGG Inc (ZAGG) designs, produces and distributes professional product solutions for mobile devices, including screen protection (glass and film), keyboards for tablet computers and mobile devices, keyboard cases, earbuds, mobile power solutions, cables, and cases under the ZAGG and InvisibleShield brands.
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