Baird Financial Group Inc. grew its holdings in Zagg Inc (NASDAQ:ZAGG) by 3.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 623,065 shares of the specialty retailer’s stock after buying an additional 19,494 shares during the period. Baird Financial Group Inc. owned 2.24% of Zagg worth $9,066,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. SG Americas Securities LLC acquired a new stake in shares of Zagg in the third quarter valued at approximately $126,000. Prudential Financial Inc. bought a new position in shares of Zagg during the third quarter worth approximately $149,000. Victory Capital Management Inc. bought a new position in shares of Zagg during the third quarter worth approximately $198,000. Bank of Montreal Can bought a new position in shares of Zagg during the second quarter worth approximately $242,000. Finally, AXA increased its stake in shares of Zagg by 44.2% during the third quarter. AXA now owns 17,300 shares of the specialty retailer’s stock worth $255,000 after purchasing an additional 5,300 shares during the period. 86.88% of the stock is owned by institutional investors.
In other Zagg news, President Brian Stech sold 10,000 shares of the firm’s stock in a transaction on Monday, October 1st. The stock was sold at an average price of $14.67, for a total transaction of $146,700.00. Following the transaction, the president now owns 198,864 shares in the company, valued at approximately $2,917,334.88. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 5.80% of the stock is owned by company insiders.
Shares of NASDAQ ZAGG opened at $10.05 on Monday. The company has a market cap of $279.32 million, a PE ratio of 10.36, a PEG ratio of 1.06 and a beta of 1.66. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.13 and a current ratio of 1.76. Zagg Inc has a 1-year low of $9.54 and a 1-year high of $21.55.
Zagg (NASDAQ:ZAGG) last posted its quarterly earnings data on Tuesday, November 6th. The specialty retailer reported $0.51 EPS for the quarter, topping the Zacks’ consensus estimate of $0.42 by $0.09. Zagg had a return on equity of 32.36% and a net margin of 6.00%. The firm had revenue of $141.10 million for the quarter, compared to analyst estimates of $149.13 million. During the same quarter last year, the company earned $0.34 EPS. The company’s revenue was up 5.0% on a year-over-year basis. Equities research analysts predict that Zagg Inc will post 1.36 earnings per share for the current year.
ZAGG has been the topic of a number of recent research reports. BidaskClub lowered Zagg from a “hold” rating to a “sell” rating in a research note on Thursday, October 4th. ValuEngine lowered Zagg from a “sell” rating to a “strong sell” rating in a research note on Friday, October 19th. B. Riley lowered their target price on Zagg from $17.00 to $15.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 7th. Finally, TheStreet lowered Zagg from a “b-” rating to a “c+” rating in a research note on Monday, November 12th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $18.80.
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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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