Great Lakes Advisors LLC Buys New Shares in Ziff Davis, Inc. $ZD

Great Lakes Advisors LLC purchased a new stake in Ziff Davis, Inc. (NASDAQ:ZD) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 54,795 shares of the technology company’s stock, valued at approximately $2,870,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Deutsche Bank AG bought a new position in shares of Ziff Davis in the 2nd quarter valued at about $2,160,000. Rice Hall James & Associates LLC bought a new stake in Ziff Davis during the second quarter worth about $43,022,000. Bank of New York Mellon Corp bought a new stake in Ziff Davis during the second quarter worth about $16,361,000. State of Wyoming acquired a new position in Ziff Davis during the second quarter valued at approximately $186,000. Finally, One Wealth Advisors LLC bought a new position in Ziff Davis in the second quarter valued at approximately $556,000. 99.76% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Barclays upped their price objective on Ziff Davis from $45.00 to $48.00 and gave the stock an “equal weight” rating in a research note on Monday, May 11th. UBS Group boosted their target price on shares of Ziff Davis from $30.00 to $59.00 and gave the stock a “neutral” rating in a report on Wednesday, August 12th. Royal Bank Of Canada upped their price target on shares of Ziff Davis from $48.00 to $65.00 and gave the stock an “outperform” rating in a research report on Monday, August 10th. Citigroup increased their price target on shares of Ziff Davis from $48.00 to $59.00 and gave the company a “neutral” rating in a research note on Monday, August 10th. Finally, Susquehanna lifted their price objective on shares of Ziff Davis from $60.00 to $75.00 and gave the company a “positive” rating in a research report on Monday, August 10th. Three analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Ziff Davis presently has a consensus rating of “Hold” and a consensus price target of $56.62.

Ziff Davis Price Performance

NASDAQ:ZD opened at $55.40 on Friday. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 0.32. Ziff Davis, Inc. has a 12-month low of $22.45 and a 12-month high of $58.06. The stock’s 50 day moving average price is $51.82 and its two-hundred day moving average price is $44.72. The firm has a market capitalization of $1.90 billion, a price-to-earnings ratio of 3.14 and a beta of 1.08.

Ziff Davis (NASDAQ:ZD) last posted its earnings results on Thursday, August 6th. The technology company reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.22. Ziff Davis had a return on equity of 10.73% and a net margin of 48.57%.The business had revenue of $286.74 million for the quarter, compared to analyst estimates of $286.10 million. During the same period in the previous year, the firm earned $1.24 EPS. The firm’s revenue was down 18.7% compared to the same quarter last year.

Insider Activity

In other Ziff Davis news, CAO Lori A. Tansley sold 1,400 shares of the stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $54.76, for a total value of $76,664.00. Following the transaction, the chief accounting officer directly owned 767 shares of the company’s stock, valued at $42,000.92. This represents a 64.61% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Jeremy Rossen sold 8,000 shares of the firm’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 transaction of $376,000.00. Following the sale, the executive vice president owned 14,462 shares of the company’s stock, valued at $679,714. This trade represents a 35.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 39,154 shares of company stock valued at $1,894,300. 3.40% of the stock is owned by company insiders.

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.