Dupont Capital Management Corp increased its stake in shares of J2 Global Inc (NASDAQ:JCOM) by 64.4% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 62,273 shares of the technology company’s stock after purchasing an additional 24,395 shares during the period. Dupont Capital Management Corp owned 0.13% of J2 Global worth $5,159,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. CCM Investment Advisers LLC purchased a new position in J2 Global in the 3rd quarter valued at approximately $5,285,000. Los Angeles Capital Management & Equity Research Inc. purchased a new position in J2 Global in the 3rd quarter valued at approximately $2,531,000. Smith Asset Management Group LP boosted its position in J2 Global by 7,170.1% in the 3rd quarter. Smith Asset Management Group LP now owns 28,208 shares of the technology company’s stock valued at $2,337,000 after buying an additional 27,820 shares during the period. Foster & Motley Inc. boosted its position in J2 Global by 4.3% in the 3rd quarter. Foster & Motley Inc. now owns 18,494 shares of the technology company’s stock valued at $1,532,000 after buying an additional 768 shares during the period. Finally, WBI Investments Inc. purchased a new position in J2 Global in the 3rd quarter valued at approximately $533,000. Hedge funds and other institutional investors own 99.90% of the company’s stock.
In related news, CEO Vivek Shah sold 3,000 shares of J2 Global stock in a transaction on Monday, October 15th. The shares were sold at an average price of $72.55, for a total transaction of $217,650.00. Following the sale, the chief executive officer now directly owns 717,830 shares in the company, valued at approximately $52,078,566.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Jeremy Rossen sold 2,457 shares of J2 Global stock in a transaction on Tuesday, August 21st. The stock was sold at an average price of $81.17, for a total transaction of $199,434.69. Following the sale, the vice president now owns 30,715 shares in the company, valued at $2,493,136.55. The disclosure for this sale can be found here. Insiders have sold a total of 12,509 shares of company stock worth $996,327 over the last quarter. 5.15% of the stock is owned by company insiders.
Shares of JCOM opened at $74.27 on Friday. J2 Global Inc has a twelve month low of $69.09 and a twelve month high of $91.58. The firm has a market capitalization of $3.75 billion, a PE ratio of 13.53, a PEG ratio of 1.64 and a beta of 0.94. The company has a current ratio of 1.75, a quick ratio of 2.17 and a debt-to-equity ratio of 0.97.
J2 Global (NASDAQ:JCOM) last announced its quarterly earnings data on Monday, November 5th. The technology company reported $1.53 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.41 by $0.12. J2 Global had a net margin of 10.86% and a return on equity of 26.70%. The business had revenue of $292.72 million for the quarter, compared to analyst estimates of $295.19 million. Equities analysts expect that J2 Global Inc will post 5.81 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 5th. Investors of record on Monday, November 19th will be paid a dividend of $0.435 per share. This is a positive change from J2 Global’s previous quarterly dividend of $0.43. This represents a $1.74 annualized dividend and a yield of 2.34%. The ex-dividend date of this dividend is Friday, November 16th. J2 Global’s dividend payout ratio (DPR) is currently 31.42%.
A number of equities research analysts have recently weighed in on JCOM shares. BidaskClub lowered shares of J2 Global from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 14th. Robert W. Baird restated a “buy” rating and issued a $92.00 price objective on shares of J2 Global in a report on Monday, August 13th. Citigroup reduced their price objective on shares of J2 Global from $88.00 to $86.00 and set a “neutral” rating on the stock in a report on Monday, August 13th. ValuEngine lowered shares of J2 Global from a “hold” rating to a “sell” rating in a report on Friday, October 12th. Finally, Wedbush started coverage on shares of J2 Global in a report on Thursday, October 18th. They issued an “outperform” rating and a $95.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $93.25.
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J2 Global Company Profile
j2 Global, Inc, together with its subsidiaries, engages in the provision of Internet services worldwide. It operates through two segments, Cloud Services and Digital Media. The Cloud Services segment offers cloud services to sole proprietors, small to medium-sized businesses and enterprises, and government organizations.
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