Panagora Asset Management Inc. grew its position in Zagg Inc (NASDAQ:ZAGG) by 3.5% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 326,829 shares of the specialty retailer’s stock after purchasing an additional 10,922 shares during the period. Panagora Asset Management Inc. owned about 1.18% of Zagg worth $4,821,000 as of its most recent filing with the SEC.
Several other large investors have also recently modified their holdings of ZAGG. SG Americas Securities LLC acquired a new position in Zagg during the 3rd quarter worth about $126,000. Prudential Financial Inc. acquired a new position in Zagg during the 3rd quarter worth about $149,000. Victory Capital Management Inc. acquired a new position in Zagg during the 3rd quarter worth about $198,000. Bank of Montreal Can acquired a new position in Zagg during the 2nd quarter worth about $242,000. Finally, AXA lifted its position in Zagg by 44.2% during the 3rd quarter. AXA now owns 17,300 shares of the specialty retailer’s stock worth $255,000 after buying an additional 5,300 shares in the last quarter. Institutional investors own 84.88% of the company’s stock.
Several research analysts recently issued reports on ZAGG shares. BidaskClub downgraded shares of Zagg from a “buy” rating to a “hold” rating in a research report on Thursday, September 6th. B. Riley reduced their price target on shares of Zagg from $17.00 to $15.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 7th. ValuEngine downgraded shares of Zagg from a “hold” rating to a “sell” rating in a research report on Monday, September 24th. Finally, TheStreet downgraded shares of Zagg from a “b-” rating to a “c+” rating in a research report on Monday, November 12th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $18.80.
In other Zagg news, President Brian Stech sold 10,000 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $2,917,334.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 5.80% of the company’s stock.
Shares of NASDAQ ZAGG opened at $9.79 on Friday. The stock has a market cap of $287.10 million, a P/E ratio of 10.09, a P/E/G ratio of 1.02 and a beta of 1.68. 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 12-month low of $9.54 and a 12-month high of $21.10.
Zagg (NASDAQ:ZAGG) last issued its quarterly earnings results on Tuesday, November 6th. The specialty retailer reported $0.51 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.09. The business had revenue of $141.10 million for the quarter, compared to the consensus estimate of $149.13 million. Zagg had a net margin of 6.00% and a return on equity of 32.36%. The firm’s quarterly revenue was up 5.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.34 EPS. On average, sell-side analysts forecast that Zagg Inc will post 1.36 earnings per share for the current fiscal year.
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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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