Zedge (NYSEAMERICAN:ZDGE) Posts Quarterly Earnings Results

Zedge (NYSEAMERICAN:ZDGEGet Rating) issued its quarterly earnings data on Monday. The company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.02), Fidelity Earnings reports. Zedge had a return on equity of 26.15% and a net margin of 37.67%.

Shares of Zedge stock opened at $3.77 on Wednesday. The company has a market cap of $52.31 million, a P/E ratio of 6.28 and a beta of 1.01. Zedge has a one year low of $3.67 and a one year high of $19.90.

In other Zedge news, Director Mark Ghermezian bought 4,355 shares of the business’s stock in a transaction on Monday, April 18th. The stock was bought at an average price of $5.81 per share, with a total value of $25,302.55. Following the completion of the purchase, the director now directly owns 28,253 shares in the company, valued at $164,149.93. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In the last three months, insiders have acquired 11,070 shares of company stock valued at $59,390. 22.00% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC grew its stake in Zedge by 2.4% during the 1st quarter. Renaissance Technologies LLC now owns 686,114 shares of the company’s stock worth $4,178,000 after purchasing an additional 15,800 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Zedge by 15.9% during the 1st quarter. Vanguard Group Inc. now owns 595,239 shares of the company’s stock worth $3,625,000 after buying an additional 81,531 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Zedge by 10.2% during the 4th quarter. Geode Capital Management LLC now owns 133,969 shares of the company’s stock worth $1,138,000 after buying an additional 12,428 shares during the last quarter. Morgan Stanley lifted its holdings in Zedge by 393.9% during the 2nd quarter. Morgan Stanley now owns 81,758 shares of the company’s stock worth $1,505,000 after buying an additional 65,203 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in Zedge by 31.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 68,992 shares of the company’s stock worth $922,000 after buying an additional 16,590 shares during the last quarter. 24.02% of the stock is owned by hedge funds and other institutional investors.

Separately, Maxim Group began coverage on Zedge in a report on Thursday, April 14th. They issued a “buy” rating and a $16.00 price objective on the stock.

About Zedge (Get Rating)

Zedge, Inc operates a digital publishing and content platform worldwide. Its platform enables consumers to personalize their mobile devices with ringtones, home screen app icons, wallpapers, widgets, and notification sounds. The company was incorporated in 2008 and is based in New York, New York.

Featured Stories

Earnings History for Zedge (NYSEAMERICAN:ZDGE)

Receive News & Ratings for Zedge Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zedge and related companies with MarketBeat.com's FREE daily email newsletter.