Pale Fire Capital SE Has $116.79 Million Stock Holdings in Ziff Davis, Inc. $ZD

Pale Fire Capital SE increased its holdings in shares of Ziff Davis, Inc. (NASDAQ:ZD) by 130.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,783,366 shares of the technology company’s stock after buying an additional 1,573,414 shares during the quarter. Ziff Davis accounts for approximately 10.0% of Pale Fire Capital SE’s holdings, making the stock its 4th largest holding. Pale Fire Capital SE owned 0.08% of Ziff Davis worth $116,790,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Federated Hermes Inc. acquired a new position in Ziff Davis in the fourth quarter valued at about $25,000. NBC Securities Inc. increased its holdings in shares of Ziff Davis by 121.2% in the fourth quarter. NBC Securities Inc. now owns 885 shares of the technology company’s stock worth $31,000 after acquiring an additional 485 shares in the last quarter. Hantz Financial Services Inc. raised its position in shares of Ziff Davis by 212.2% during the fourth quarter. Hantz Financial Services Inc. now owns 868 shares of the technology company’s stock worth $31,000 after purchasing an additional 590 shares during the period. GAMMA Investing LLC raised its position in shares of Ziff Davis by 207.1% during the fourth quarter. GAMMA Investing LLC now owns 906 shares of the technology company’s stock worth $32,000 after purchasing an additional 611 shares during the period. Finally, Rockefeller Capital Management L.P. raised its position in shares of Ziff Davis by 226.7% during the fourth quarter. Rockefeller Capital Management L.P. now owns 990 shares of the technology company’s stock worth $35,000 after purchasing an additional 687 shares during the period. 99.76% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Ziff Davis

In other Ziff Davis news, EVP Jeremy Rossen sold 8,000 shares of the business’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $47.00, for a total value of $376,000.00. Following the sale, the executive vice president owned 14,462 shares in the company, valued at approximately $679,714. The trade was a 35.62% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Kirk P. Mcdonald sold 1,075 shares of the company’s stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $46.65, for a total value of $50,148.75. Following the transaction, the director directly owned 13,468 shares of the company’s stock, valued at approximately $628,282.20. This trade represents a 7.39% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 31,422 shares of company stock worth $1,468,864. Corporate insiders own 3.40% of the company’s stock.

Analyst Upgrades and Downgrades

ZD has been the subject of several research analyst reports. Evercore reiterated an “outperform” rating and issued a $61.00 price objective on shares of Ziff Davis in a research report on Tuesday, May 12th. Piper Sandler set a $48.00 target price on shares of Ziff Davis in a report on Monday, May 11th. Weiss Ratings raised shares of Ziff Davis from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, June 1st. Barclays lifted their price target on shares of Ziff Davis from $45.00 to $48.00 and gave the company an “equal weight” rating in a research note on Monday, May 11th. Finally, Zacks Research cut shares of Ziff Davis from a “hold” rating to a “strong sell” rating in a report on Wednesday, May 6th. Three investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $47.25.

Ziff Davis Stock Performance

Shares of Ziff Davis stock opened at $51.60 on Friday. The firm has a market cap of $1.90 billion, a price-to-earnings ratio of 45.66 and a beta of 1.08. The stock’s 50-day moving average is $48.29 and its 200-day moving average is $42.45. Ziff Davis, Inc. has a one year low of $22.45 and a one year high of $54.97. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.66 and a quick ratio of 1.66.

Ziff Davis (NASDAQ:ZD) last posted its quarterly earnings data on Thursday, May 7th. The technology company reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.01. The company had revenue of $267.64 million during the quarter, compared to analysts’ expectations of $264.32 million. Ziff Davis had a return on equity of 12.17% and a net margin of 3.26%.Ziff Davis’s revenue for the quarter was down 1.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.14 earnings per share.

Ziff Davis Company Profile

Ziff Davis, Inc is a digital media and internet company that operates a diverse portfolio of online brands, subscription-based services and performance marketing platforms. The company specializes in technology publishing and digital marketing solutions, offering content, reviews and insights tailored to consumer and enterprise audiences. Ziff Davis’s flagship media properties include PCMag, which provides expert reviews and comparisons of consumer electronics and software, as well as IGN, a leading destination for gaming news, reviews and entertainment coverage.

Founded in 1927 by William B.