Zedge (NYSEAMERICAN:ZDGE) Announces Earnings Results, Beats Estimates By $0.02 EPS

Zedge (NYSEAMERICAN:ZDGE) posted its quarterly earnings data on Thursday. The company reported $0.07 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.02, FiscalAI reports. Zedge had a negative net margin of 6.03% and a positive return on equity of 10.36%. The company had revenue of $7.99 million during the quarter, compared to analyst estimates of $7.00 million.

Zedge Stock Performance

ZDGE traded up $0.19 during trading on Thursday, reaching $3.31. The company had a trading volume of 1,725,013 shares, compared to its average volume of 72,616. The firm’s 50-day simple moving average is $3.06 and its 200 day simple moving average is $3.09. The company has a market cap of $41.44 million, a price-to-earnings ratio of -22.07 and a beta of 1.26. Zedge has a 12-month low of $2.21 and a 12-month high of $4.89.

Zedge Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Monday, April 6th were paid a $0.02 dividend. The ex-dividend date of this dividend was Monday, April 6th. This represents a $0.08 dividend on an annualized basis and a yield of 2.4%. This is an increase from Zedge’s previous quarterly dividend of $0.02. Zedge’s dividend payout ratio (DPR) is -8.96%.

Hedge Funds Weigh In On Zedge

Institutional investors have recently bought and sold shares of the stock. Squarepoint Ops LLC acquired a new stake in Zedge in the 3rd quarter worth approximately $37,000. Raymond James Financial Inc. acquired a new stake in Zedge in the 2nd quarter worth approximately $40,000. Arrowstreet Capital Limited Partnership acquired a new stake in Zedge in the 3rd quarter worth approximately $87,000. Goldman Sachs Group Inc. lifted its holdings in Zedge by 35.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 42,029 shares of the company’s stock worth $138,000 after purchasing an additional 11,022 shares during the last quarter. Finally, Citadel Advisors LLC lifted its holdings in Zedge by 304.7% in the 3rd quarter. Citadel Advisors LLC now owns 49,520 shares of the company’s stock worth $144,000 after purchasing an additional 37,285 shares during the last quarter. Hedge funds and other institutional investors own 29.37% of the company’s stock.

About Zedge

Zedge, Inc (NYSE American: ZDGE) is a digital media and technology company that operates a mobile personalization platform. Through its flagship Zedge app and website, the company provides consumers with a wide range of downloadable digital content, including wallpapers, ringtones, notification sounds, app icons and lock screens. The platform accommodates both free and premium content, enabling users to customize their smartphones and tablets according to personal taste.

The company’s platform features content created by independent designers and established media brands, and it supports multiple languages and regional preferences.