Ziff Davis (NASDAQ:ZD) Announces Earnings Results, Beats Estimates By $0.22 EPS

Ziff Davis (NASDAQ:ZD) issued its quarterly earnings data on Thursday. The technology company reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.22, Briefing.com reports. Ziff Davis had a return on equity of 11.46% and a net margin of 48.57%.The firm had revenue of $286.74 million during the quarter, compared to analyst estimates of $286.10 million. During the same quarter last year, the firm earned $1.24 EPS. Ziff Davis’s quarterly revenue was down 18.7% on a year-over-year basis.

Ziff Davis Stock Performance

ZD stock traded up $2.92 during mid-day trading on Friday, reaching $53.87. The company had a trading volume of 1,472,437 shares, compared to its average volume of 538,090. Ziff Davis has a one year low of $22.45 and a one year high of $58.06. The stock has a market capitalization of $1.98 billion, a P/E ratio of 3.05 and a beta of 1.08. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.42. The stock’s 50-day simple moving average is $50.23 and its two-hundred day simple moving average is $43.66.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on ZD shares. Piper Sandler set a $48.00 price target on shares of Ziff Davis in a research note on Monday, May 11th. Susquehanna boosted their target price on shares of Ziff Davis from $45.00 to $60.00 and gave the stock a “positive” rating in a research report on Tuesday, May 5th. Barclays increased their price target on shares of Ziff Davis from $45.00 to $48.00 and gave the stock an “equal weight” rating in a research report on Monday, May 11th. Evercore reissued an “outperform” rating and issued a $61.00 price objective on shares of Ziff Davis in a report on Tuesday, May 12th. Finally, Zacks Research lowered Ziff Davis from a “hold” rating to a “strong sell” rating in a research report on Wednesday, May 6th. Three equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $47.25.

Insider Buying and Selling

In related news, Director Kirk P. Mcdonald sold 1,075 shares of Ziff Davis stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $46.65, for a total value of $50,148.75. Following the sale, the director directly owned 13,468 shares in the company, valued at $628,282.20. This trade represents a 7.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Bret Richter sold 18,000 shares of the business’s stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $46.88, for a total transaction of $843,840.00. Following the transaction, the chief financial officer directly owned 29,244 shares of the company’s stock, valued at $1,370,958.72. The trade was a 38.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 31,422 shares of company stock valued at $1,468,864 in the last quarter. Company insiders own 3.40% of the company’s stock.

Institutional Trading of Ziff Davis

Several large investors have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. increased its holdings in shares of Ziff Davis by 260.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 597,573 shares of the technology company’s stock valued at $21,005,000 after buying an additional 431,828 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of Ziff Davis by 88.5% during the 4th quarter. AQR Capital Management LLC now owns 399,259 shares of the technology company’s stock worth $14,034,000 after acquiring an additional 187,431 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in shares of Ziff Davis by 46.1% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 552,385 shares of the technology company’s stock worth $21,046,000 after acquiring an additional 174,287 shares during the last quarter. Boussard & Gavaudan Investment Management LLP acquired a new position in shares of Ziff Davis in the 4th quarter worth $3,539,000. Finally, Amundi raised its position in shares of Ziff Davis by 374.3% during the third quarter. Amundi now owns 125,475 shares of the technology company’s stock worth $4,960,000 after purchasing an additional 99,018 shares during the period. 99.76% of the stock is currently owned by institutional investors and hedge funds.

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.