Zillow Group Inc (NASDAQ:ZG) Sees Significant Decrease in Short Interest

Zillow Group Inc (NASDAQ:ZG) was the target of a significant decrease in short interest during the month of June. As of June 30th, there was short interest totalling 3,328,900 shares, a decrease of 10.5% from the May 30th total of 3,718,800 shares. Currently, 6.0% of the shares of the stock are short sold. Based on an average daily trading volume, of 991,200 shares, the short-interest ratio is presently 3.4 days.

A number of equities research analysts have recently commented on ZG shares. Jefferies Financial Group set a €20.00 ($23.26) target price on shares of ThyssenKrupp and gave the company a “buy” rating in a research report on Friday, May 10th. Craig Hallum cut shares of Barnes & Noble from a “buy” rating to a “hold” rating and set a $7.00 target price for the company. in a research report on Friday, June 7th. Cowen started coverage on shares of Kontoor Brands in a research report on Monday, April 8th. They issued a “neutral” rating and a $7.50 target price for the company. Guggenheim increased their target price on shares of Zillow Group from $45.00 to $50.00 in a research report on Tuesday, June 18th. Finally, Canaccord Genuity set a $52.00 target price on shares of Zillow Group and gave the company a “hold” rating in a research report on Wednesday, June 19th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Zillow Group presently has an average rating of “Hold” and a consensus price target of $45.46.

Institutional investors have recently added to or reduced their stakes in the stock. Highbridge Capital Management LLC increased its position in shares of Zillow Group by 792.4% during the fourth quarter. Highbridge Capital Management LLC now owns 58,150 shares of the technology company’s stock valued at $1,827,000 after acquiring an additional 51,634 shares during the last quarter. Public Employees Retirement System of Ohio increased its position in shares of Zillow Group by 16.8% during the fourth quarter. Public Employees Retirement System of Ohio now owns 16,245 shares of the technology company’s stock valued at $511,000 after acquiring an additional 2,335 shares during the last quarter. Amundi Pioneer Asset Management Inc. acquired a new stake in shares of Zillow Group during the fourth quarter valued at about $116,000. Squarepoint Ops LLC acquired a new stake in shares of Zillow Group during the fourth quarter valued at about $466,000. Finally, LA Financiere DE L Echiquier acquired a new stake in shares of Zillow Group during the first quarter valued at about $370,000. Hedge funds and other institutional investors own 24.15% of the company’s stock.

Zillow Group stock opened at $49.91 on Friday. Zillow Group has a 12-month low of $26.20 and a 12-month high of $64.66. The firm has a market capitalization of $10.24 billion, a PE ratio of -191.96 and a beta of 0.82. The stock’s 50-day moving average price is $45.05. The company has a current ratio of 4.73, a quick ratio of 3.98 and a debt-to-equity ratio of 0.25.

Zillow Group (NASDAQ:ZG) last released its quarterly earnings data on Thursday, May 9th. The technology company reported ($0.33) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.41) by $0.08. Zillow Group had a negative net margin of 11.35% and a negative return on equity of 3.18%. The firm had revenue of $454.10 million during the quarter, compared to analysts’ expectations of $432.09 million. During the same period last year, the business earned $0.07 earnings per share. Zillow Group’s revenue was up 51.4% compared to the same quarter last year. Research analysts anticipate that Zillow Group will post -1.62 earnings per share for the current fiscal year.

Zillow Group Company Profile

Zillow Group, Inc operates real estate and home-related brands on mobile and the Web in the United States. The company offers a portfolio of brands and products to empowering consumers with unparalleled data, inspiration, and knowledge around homes and connecting them with real estate professionals. Its brands focus on various stages of the home lifecycle, including renting, buying, selling, and financing.

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