Acadian Asset Management LLC lifted its stake in shares of Zagg Inc (NASDAQ:ZAGG) by 63.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 238,457 shares of the specialty retailer’s stock after purchasing an additional 92,726 shares during the quarter. Acadian Asset Management LLC owned about 0.85% of Zagg worth $3,517,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of ZAGG. Capital Fund Management S.A. purchased a new stake in shares of Zagg in the 2nd quarter worth about $386,000. Globeflex Capital L P boosted its position in shares of Zagg by 123.2% in the 2nd quarter. Globeflex Capital L P now owns 79,000 shares of the specialty retailer’s stock worth $1,367,000 after buying an additional 43,600 shares in the last quarter. Bowling Portfolio Management LLC purchased a new stake in shares of Zagg in the 3rd quarter worth about $1,077,000. BlackRock Inc. boosted its position in shares of Zagg by 0.7% in the 1st quarter. BlackRock Inc. now owns 1,825,475 shares of the specialty retailer’s stock worth $22,270,000 after buying an additional 13,177 shares in the last quarter. Finally, Strategic Wealth Advisors Group LLC purchased a new stake in shares of Zagg in the 2nd quarter worth about $760,000. 84.53% of the stock is currently owned by institutional investors and hedge funds.
Several research firms recently commented on ZAGG. B. Riley boosted their price objective on shares of Zagg from $16.00 to $17.00 and gave the stock a “hold” rating in a research report on Wednesday, August 1st. ValuEngine lowered shares of Zagg from a “buy” rating to a “hold” rating in a research report on Wednesday, July 25th. Finally, BidaskClub upgraded shares of Zagg from a “hold” rating to a “buy” rating in a research report on Saturday, August 25th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $19.50.
NASDAQ:ZAGG opened at $11.46 on Friday. The stock has a market capitalization of $344.95 million, a price-to-earnings ratio of 11.81, a PEG ratio of 1.17 and a beta of 1.66. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.02 and a current ratio of 1.66. Zagg Inc has a 12-month low of $10.60 and a 12-month high of $23.70.
Zagg (NASDAQ:ZAGG) last released its earnings results on Tuesday, November 6th. The specialty retailer reported $0.51 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.09. The company had revenue of $141.10 million for the quarter, compared to analyst estimates of $149.13 million. Zagg had a net margin of 6.00% and a return on equity of 33.12%. The firm’s quarterly revenue was up 5.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.34 EPS. Analysts forecast that Zagg Inc will post 1.35 earnings per share for the current year.
In other Zagg news, President Brian Stech sold 10,000 shares of the company’s stock in a transaction dated Monday, October 1st. The shares were sold at an average price of $14.67, for a total value of $146,700.00. Following the transaction, the president now directly owns 198,864 shares in the company, valued at approximately $2,917,334.88. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 5.80% of the stock is currently owned by corporate insiders.
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Zagg Company Profile
ZAGG Inc, together with its subsidiaries, designs, manufactures, and distributes mobile tech accessories for smartphones and tablets in the United States, Europe, and internationally. It operates in ZAGG and mophie segments. The company offers screen protection products; battery cases and power management products for tablets, smartphones, MP3 players, cameras, and other electronic mobile devices; device specific keyboards and device agnostic keyboards; and earbuds, headphones, wireless charging products, Bluetooth speakers, and cables under the ZAGG, InvisibleShield, IFROGZ, and mophie brands.
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