Ritholtz Wealth Management Makes New $610,000 Investment in Ziff Davis, Inc. $ZD

Ritholtz Wealth Management purchased a new stake in shares of Ziff Davis, Inc. (NASDAQ:ZD) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 14,533 shares of the technology company’s stock, valued at approximately $610,000.

Several other institutional investors have also recently made changes to their positions in the business. Federated Hermes Inc. bought a new stake in Ziff Davis during the fourth quarter valued at approximately $25,000. Hantz Financial Services Inc. raised its position in Ziff Davis by 212.2% in the fourth quarter. Hantz Financial Services Inc. now owns 868 shares of the technology company’s stock worth $31,000 after acquiring an additional 590 shares during the period. NBC Securities Inc. boosted its stake in shares of Ziff Davis by 121.2% during the 4th quarter. NBC Securities Inc. now owns 885 shares of the technology company’s stock worth $31,000 after acquiring an additional 485 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Ziff Davis by 207.1% during the 4th quarter. GAMMA Investing LLC now owns 906 shares of the technology company’s stock worth $32,000 after acquiring an additional 611 shares during the last quarter. Finally, Rockefeller Capital Management L.P. grew its position in shares of Ziff Davis by 226.7% during the 4th quarter. Rockefeller Capital Management L.P. now owns 990 shares of the technology company’s stock valued at $35,000 after acquiring an additional 687 shares during the period. Institutional investors own 99.76% of the company’s stock.

Insider Activity

In related news, CFO Bret Richter sold 18,000 shares of the firm’s stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $46.88, for a total transaction of $843,840.00. Following the completion of the transaction, the chief financial officer directly owned 29,244 shares of the company’s stock, valued at approximately $1,370,958.72. This trade represents a 38.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Kirk P. Mcdonald sold 1,075 shares of the firm’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $46.65, for a total value of $50,148.75. Following the transaction, the director owned 13,468 shares of the company’s stock, valued at approximately $628,282.20. The trade was a 7.39% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 31,422 shares of company stock worth $1,468,864 over the last quarter. Insiders own 3.40% of the company’s stock.

Ziff Davis Stock Performance

NASDAQ ZD opened at $52.37 on Wednesday. The firm has a market cap of $1.93 billion, a price-to-earnings ratio of 46.35 and a beta of 1.12. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.42. The business has a 50-day moving average price of $45.39 and a 200-day moving average price of $40.33. Ziff Davis, Inc. has a twelve month low of $22.45 and a twelve month high of $52.59.

Ziff Davis (NASDAQ:ZD) last issued its earnings results on Thursday, May 7th. The technology company reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.01. Ziff Davis had a return on equity of 12.17% and a net margin of 3.26%.The company had revenue of $267.64 million for the quarter, compared to the consensus estimate of $264.32 million. During the same quarter last year, the company earned $1.14 EPS. The firm’s quarterly revenue was down 1.9% on a year-over-year basis. As a group, equities research analysts predict that Ziff Davis, Inc. will post 4.08 EPS for the current fiscal year.

Analysts Set New Price Targets

ZD has been the subject of several analyst reports. Piper Sandler set a $48.00 target price on Ziff Davis in a report on Monday, May 11th. Evercore reissued an “outperform” rating and set a $61.00 price target on shares of Ziff Davis in a report on Tuesday, May 12th. Royal Bank Of Canada upped their price target on Ziff Davis from $40.00 to $48.00 and gave the stock an “outperform” rating in a research report on Monday, May 11th. Zacks Research cut Ziff Davis from a “hold” rating to a “strong sell” rating in a research report on Wednesday, May 6th. Finally, Weiss Ratings upgraded Ziff Davis from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, June 1st. Three equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Ziff Davis presently has a consensus rating of “Hold” and an average price target of $47.25.

Ziff Davis Company Profile

Ziff Davis, Inc is a digital media and internet company that operates a diverse portfolio of online brands, subscription-based services and performance marketing platforms. The company specializes in technology publishing and digital marketing solutions, offering content, reviews and insights tailored to consumer and enterprise audiences. Ziff Davis’s flagship media properties include PCMag, which provides expert reviews and comparisons of consumer electronics and software, as well as IGN, a leading destination for gaming news, reviews and entertainment coverage.

Founded in 1927 by William B.