Zedge, Inc. Declares Quarterly Dividend of $0.02 (NYSEAMERICAN:ZDGE)

Zedge, Inc. (NYSEAMERICAN:ZDGE) announced a quarterly dividend on Thursday, June 4th. Shareholders of record on Monday, June 22nd will be given a dividend of 0.02 per share on Tuesday, June 30th. This represents a c) dividend on an annualized basis and a yield of 2.7%. The ex-dividend date is Monday, June 22nd.

Zedge Price Performance

Shares of ZDGE stock opened at $2.99 on Friday. The stock’s fifty day simple moving average is $3.10 and its 200 day simple moving average is $3.13. Zedge has a one year low of $2.21 and a one year high of $4.89. The firm has a market cap of $37.49 million, a price-to-earnings ratio of -33.22 and a beta of 1.26.

Zedge (NYSEAMERICAN:ZDGE) last released its quarterly earnings results on Thursday, June 11th. The company reported $0.07 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.02. The firm had revenue of $7.99 million for the quarter, compared to analyst estimates of $7.00 million. Zedge had a negative net margin of 3.62% and a positive return on equity of 11.18%. On average, research analysts anticipate that Zedge will post 0.31 earnings per share for the current year.

Institutional Investors Weigh In On Zedge

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Marshall Wace LLP bought a new stake in shares of Zedge in the second quarter valued at about $331,000. NewEdge Advisors LLC boosted its position in shares of Zedge by 2,923.0% during the first quarter. NewEdge Advisors LLC now owns 58,918 shares of the company’s stock worth $173,000 after buying an additional 56,969 shares during the period. HRT Financial LP bought a new position in shares of Zedge during the fourth quarter worth about $158,000. Hillsdale Investment Management Inc. grew its holdings in shares of Zedge by 1,982.8% during the first quarter. Hillsdale Investment Management Inc. now owns 50,653 shares of the company’s stock worth $148,000 after buying an additional 48,221 shares in the last quarter. Finally, Citadel Advisors LLC raised its position in Zedge by 304.7% in the 3rd quarter. Citadel Advisors LLC now owns 49,520 shares of the company’s stock valued at $144,000 after buying an additional 37,285 shares during the last quarter. 29.37% of the stock is currently owned by institutional investors and hedge funds.

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.