Algert Global LLC cut its holdings in shares of Zagg Inc (NASDAQ:ZAGG) by 11.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 81,598 shares of the specialty retailer’s stock after selling 10,352 shares during the quarter. Algert Global LLC owned about 0.29% of Zagg worth $1,204,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. SG Americas Securities LLC acquired a new position in shares of Zagg during the 3rd quarter worth approximately $126,000. Prudential Financial Inc. acquired a new position in Zagg in the 3rd quarter valued at $149,000. Tower Research Capital LLC TRC acquired a new position in Zagg in the 3rd quarter valued at $181,000. Victory Capital Management Inc. acquired a new position in Zagg in the 3rd quarter valued at $198,000. Finally, Bank of Montreal Can acquired a new position in Zagg in the 2nd quarter valued at $242,000. 84.88% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts have commented on ZAGG shares. BidaskClub raised Zagg from a “hold” rating to a “buy” rating in a report on Saturday, August 25th. ValuEngine lowered Zagg from a “hold” rating to a “sell” rating in a report on Monday, September 24th. B. Riley decreased their price objective on Zagg from $17.00 to $15.00 and set a “neutral” rating on the stock in a report on Wednesday, November 7th. Finally, TheStreet lowered Zagg from a “b-” rating to a “c+” rating in a report on Monday, November 12th. Two analysts have rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company’s stock. Zagg presently has a consensus rating of “Hold” and a consensus target price of $18.80.
Shares of NASDAQ ZAGG opened at $9.79 on Friday. The company has a current ratio of 1.76, a quick ratio of 1.13 and a debt-to-equity ratio of 0.19. Zagg Inc has a one year low of $9.54 and a one year high of $21.10. The firm has a market capitalization of $287.10 million, a price-to-earnings ratio of 10.09, a PEG ratio of 1.02 and a beta of 1.68.
Zagg (NASDAQ:ZAGG) last issued its quarterly earnings data on Tuesday, November 6th. The specialty retailer reported $0.51 EPS for the quarter, beating analysts’ consensus estimates 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 period in the prior year, the firm posted $0.34 EPS. The company’s revenue for the quarter was up 5.0% on a year-over-year basis. Equities analysts forecast that Zagg Inc will post 1.36 earnings per share for the current fiscal year.
In other news, President Brian Stech sold 10,000 shares of the company’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 completion of the sale, the president now directly 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 accessible through this hyperlink. Corporate insiders own 5.80% of the company’s stock.
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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