Whitefort Capital Management LP Acquires New Holdings in Ziff Davis, Inc. $ZD

Whitefort Capital Management LP bought a new stake in Ziff Davis, Inc. (NASDAQ:ZD) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 418,389 shares of the technology company’s stock, valued at approximately $21,911,032,000. Ziff Davis makes up 5.4% of Whitefort Capital Management LP’s holdings, making the stock its 8th largest position.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Federated Hermes Inc. bought a new position in shares of Ziff Davis in the 4th quarter valued at $25,000. NBC Securities Inc. boosted its holdings in shares of Ziff Davis by 121.2% during the 4th quarter. NBC Securities Inc. now owns 885 shares of the technology company’s stock valued at $31,000 after acquiring an additional 485 shares in the last quarter. Hantz Financial Services Inc. grew its position in Ziff Davis by 212.2% during the 4th quarter. Hantz Financial Services Inc. now owns 868 shares of the technology company’s stock worth $31,000 after acquiring an additional 590 shares during the last quarter. Rockefeller Capital Management L.P. grew its position in Ziff Davis by 226.7% during the 4th quarter. Rockefeller Capital Management L.P. now owns 990 shares of the technology company’s stock worth $35,000 after acquiring an additional 687 shares during the last quarter. Finally, Allworth Financial LP acquired a new position in Ziff Davis in the 2nd quarter worth about $44,000. Institutional investors own 99.76% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on ZD shares. Zacks Research downgraded Ziff Davis from a “hold” rating to a “strong sell” rating in a research report on Wednesday, May 6th. Barclays boosted their price target on Ziff Davis from $45.00 to $48.00 and gave the stock an “equal weight” rating in a report on Monday, May 11th. Citigroup upped their price objective on Ziff Davis from $48.00 to $59.00 and gave the company a “neutral” rating in a research note on Monday, August 10th. UBS Group raised their price objective on shares of Ziff Davis from $30.00 to $59.00 and gave the company a “neutral” rating in a report on Wednesday, August 12th. Finally, Weiss Ratings upgraded shares of Ziff Davis from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 11th. Three research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $56.62.

Ziff Davis Stock Performance

NASDAQ ZD opened at $55.41 on Wednesday. The company has a market capitalization of $1.90 billion, a price-to-earnings ratio of 3.14 and a beta of 1.08. 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 twelve month low of $22.45 and a twelve month high of $58.06. The stock has a fifty day simple moving average of $52.41 and a 200 day simple moving average of $45.14.

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

Insiders Place Their Bets

In related news, 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 sale, the director directly owned 13,468 shares in the company, valued at $628,282.20. This represents a 7.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Jeremy Rossen sold 3,819 shares of the stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $54.93, for a total transaction of $209,777.67. Following the sale, the executive vice president directly owned 10,643 shares of the company’s stock, valued at $584,619.99. This represents a 26.41% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 39,154 shares of company stock valued at $1,894,300 over the last three months. Insiders own 3.40% of the company’s stock.

Ziff Davis 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.