Ziff Davis (NASDAQ:ZD) Reaches New 1-Year Low – Here’s What Happened

Ziff Davis, Inc. (NASDAQ:ZD)’s share price reached a new 52-week low during trading on Monday . The company traded as low as $36.82 and last traded at $37.28, with a volume of 20450 shares changing hands. The stock had previously closed at $38.15.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on ZD shares. UBS Group dropped their target price on Ziff Davis from $65.00 to $56.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 26th. Citigroup dropped their price objective on shares of Ziff Davis from $58.00 to $52.00 and set a “neutral” rating on the stock in a report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Ziff Davis from $70.00 to $60.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $65.67.

Ziff Davis Trading Up 0.5 %

The stock has a 50 day moving average of $46.50 and a 200-day moving average of $50.37. The company has a market capitalization of $1.62 billion, a P/E ratio of 31.99 and a beta of 1.42. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.49.

Insiders Place Their Bets

In related news, CFO Bret Richter acquired 2,500 shares of Ziff Davis stock in a transaction dated Wednesday, March 5th. The shares were purchased at an average price of $39.21 per share, for a total transaction of $98,025.00. Following the completion of the transaction, the chief financial officer now directly owns 16,339 shares in the company, valued at approximately $640,652.19. This represents a 18.06 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director W Brian Kretzmer bought 653 shares of the company’s stock in a transaction that occurred on Thursday, March 6th. The shares were bought at an average price of $38.33 per share, with a total value of $25,029.49. Following the transaction, the director now owns 12,968 shares of the company’s stock, valued at $497,063.44. The trade was a 5.30 % increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 5,028 shares of company stock worth $198,024 over the last three months. 2.08% of the stock is currently owned by company insiders.

Institutional Trading of Ziff Davis

Hedge funds have recently bought and sold shares of the stock. Janus Henderson Group PLC raised its holdings in shares of Ziff Davis by 8.5% during the 4th quarter. Janus Henderson Group PLC now owns 3,487,495 shares of the technology company’s stock worth $189,512,000 after acquiring an additional 272,895 shares in the last quarter. Legal & General Group Plc increased its position in Ziff Davis by 12.4% in the fourth quarter. Legal & General Group Plc now owns 2,425,947 shares of the technology company’s stock worth $131,826,000 after purchasing an additional 267,436 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Ziff Davis by 5.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,412,780 shares of the technology company’s stock valued at $131,112,000 after purchasing an additional 118,979 shares in the last quarter. CDAM UK Ltd lifted its position in Ziff Davis by 16.6% during the fourth quarter. CDAM UK Ltd now owns 1,492,860 shares of the technology company’s stock valued at $81,122,000 after purchasing an additional 213,071 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Ziff Davis by 3.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,274,762 shares of the technology company’s stock worth $62,040,000 after buying an additional 36,863 shares in the last quarter. Hedge funds and other institutional investors own 99.76% of the company’s stock.

About Ziff Davis

Ziff Davis, Inc, together with its subsidiaries, operates as a digital media and internet company in the United States and internationally. The company offers PCMag, an online resource for laboratory-based product reviews, technology news, buying guides, and research papers; Mashable for publishing technology and culture content; Spiceworks Ziff Davis provides digital content of IT products and services; retailMeNot, a savings destination platform; Offers.com, a coupon and deals website; and event-based properties, including BlackFriday.com, TheBlackFriday.com, BestBlackFriday.com, and DealsofAmerica.com.