ACR Alpine Capital Research LLC Purchases New Position in Ziff Davis, Inc. $ZD

ACR Alpine Capital Research LLC purchased a new stake in shares of Ziff Davis, Inc. (NASDAQ:ZD) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 72,680 shares of the technology company’s stock, valued at approximately $3,050,000.

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

Ziff Davis Price Performance

Shares of ZD stock opened at $52.18 on Friday. The stock has a market cap of $1.92 billion, a price-to-earnings ratio of 46.18 and a beta of 1.08. The business’s fifty day moving average is $46.25 and its 200 day moving average is $41.23. Ziff Davis, Inc. has a twelve month low of $22.45 and a twelve month high of $54.75. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.42.

Ziff Davis (NASDAQ:ZD) last announced its quarterly earnings data on Thursday, May 7th. The technology company reported $0.73 EPS for the quarter, beating the consensus estimate of $0.72 by $0.01. The business had revenue of $267.64 million during the quarter, compared to analyst estimates of $264.32 million. Ziff Davis had a return on equity of 12.17% and a net margin of 3.26%.The company’s revenue for the quarter was down 1.9% on a year-over-year basis. During the same quarter last year, the firm posted $1.14 earnings per share.

Insider Buying and Selling

In related news, Director Kirk P. Mcdonald sold 1,075 shares of the business’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $46.65, for a total transaction of $50,148.75. Following the sale, the director owned 13,468 shares of the company’s stock, valued at $628,282.20. The trade was a 7.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Jeremy Rossen sold 8,000 shares of the company’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $47.00, for a total transaction of $376,000.00. Following the completion of the sale, the executive vice president owned 14,462 shares in the company, valued at approximately $679,714. This trade represents a 35.62% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 31,422 shares of company stock worth $1,468,864 in the last three months. 3.40% of the stock is owned by corporate insiders.

Analyst Ratings Changes

ZD has been the topic of several recent analyst reports. Zacks Research cut shares of Ziff Davis from a “hold” rating to a “strong sell” rating in a report on Wednesday, May 6th. Barclays upped their price objective on shares of Ziff Davis from $45.00 to $48.00 and gave the stock an “equal weight” rating in a report on Monday, May 11th. Royal Bank Of Canada lifted their target price on shares of Ziff Davis from $40.00 to $48.00 and gave the company an “outperform” rating in a research note on Monday, May 11th. Susquehanna boosted their price target on shares of Ziff Davis from $45.00 to $60.00 and gave the company a “positive” rating in a research report on Tuesday, May 5th. Finally, Evercore reiterated an “outperform” rating and set a $61.00 price target on shares of Ziff Davis in a research report on Tuesday, May 12th. Three investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $47.25.

About Ziff Davis

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.