Ridgewood Investments LLC Takes $322,000 Position in Zedge, Inc. $ZDGE

Ridgewood Investments LLC purchased a new stake in shares of Zedge, Inc. (NYSEAMERICAN:ZDGE) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 80,294 shares of the company’s stock, valued at approximately $322,000. Ridgewood Investments LLC owned about 0.60% of Zedge as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Welch Group LLC acquired a new position in Zedge during the 1st quarter worth $29,000. Flower City Capital acquired a new position in Zedge during the 1st quarter worth $31,000. Jane Street Group LLC acquired a new position in Zedge during the 4th quarter worth $53,000. Squarepoint Ops LLC bought a new stake in Zedge during the 4th quarter valued at approximately $71,000. Finally, Thompson Davis & CO. Inc. bought a new stake in Zedge during the 1st quarter valued at approximately $84,000. 29.37% of the stock is currently owned by institutional investors and hedge funds.

Zedge Trading Down 6.9%

ZDGE opened at $2.99 on Monday. Zedge, Inc. has a 1-year low of $1.73 and a 1-year high of $4.89. The business has a 50 day moving average of $3.54 and a 200-day moving average of $2.97. The stock has a market capitalization of $39.89 million, a price-to-earnings ratio of -23.00 and a beta of 1.07.

Insider Activity at Zedge

In other Zedge news, Director Mark Ghermezian sold 25,767 shares of the firm’s stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $3.99, for a total value of $102,810.33. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 21.40% of the company’s stock.

About Zedge

Zedge, Inc builds digital marketplaces and competitive games around content that people use to express themselves. It offers the Zedge Ringtones and Wallpapers app, a freemium digital content marketplace that provides a wide array of mobile personalization content, including mobile phone wallpapers, video wallpapers, ringtones, and notification sounds.