Bessemer Group Inc. Boosts Position in Ziff Davis, Inc. $ZD

Bessemer Group Inc. raised its position in Ziff Davis, Inc. (NASDAQ:ZD) by 43.6% during the 1st quarter, Holdings Channel reports. The firm owned 169,177 shares of the technology company’s stock after acquiring an additional 51,402 shares during the quarter. Bessemer Group Inc.’s holdings in Ziff Davis were worth $7,099,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. LSV Asset Management raised its stake in shares of Ziff Davis by 17.5% during the 4th quarter. LSV Asset Management now owns 907,721 shares of the technology company’s stock worth $31,906,000 after buying an additional 135,021 shares during the last quarter. Fuller & Thaler Asset Management Inc. grew its stake in Ziff Davis by 10.6% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 860,582 shares of the technology company’s stock valued at $30,249,000 after acquiring an additional 82,761 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Ziff Davis by 5.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 835,113 shares of the technology company’s stock valued at $29,354,000 after acquiring an additional 44,923 shares in the last quarter. Nuveen LLC increased its holdings in Ziff Davis by 10.2% during the 4th quarter. Nuveen LLC now owns 808,325 shares of the technology company’s stock valued at $28,413,000 after acquiring an additional 75,047 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its position in Ziff Davis by 260.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 597,573 shares of the technology company’s stock worth $21,005,000 after acquiring an additional 431,828 shares during the last quarter. Hedge funds and other institutional investors own 99.76% of the company’s stock.

Insider Activity

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

Ziff Davis Price Performance

Shares of NASDAQ ZD opened at $53.98 on Monday. Ziff Davis, Inc. has a 1 year low of $22.45 and a 1 year high of $54.75. The firm’s 50 day moving average price is $47.13 and its 200 day moving average price is $41.88. The firm has a market cap of $1.99 billion, a P/E ratio of 47.77 and a beta of 1.08. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.66 and a current ratio of 1.66.

Ziff Davis (NASDAQ:ZD) last released its earnings results on Thursday, May 7th. The technology company reported $0.73 EPS for the quarter, topping the consensus estimate of $0.72 by $0.01. The firm had revenue of $267.64 million during the quarter, compared to analysts’ expectations of $264.32 million. Ziff Davis had a net margin of 3.26% and a return on equity of 12.17%. Ziff Davis’s revenue for the quarter was down 1.9% on a year-over-year basis. During the same period in the previous year, the company earned $1.14 EPS.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on ZD. Weiss Ratings raised shares of Ziff Davis from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, June 1st. Barclays upped their target price on Ziff Davis from $45.00 to $48.00 and gave the company an “equal weight” rating in a research note on Monday, May 11th. Royal Bank Of Canada raised 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. Piper Sandler set a $48.00 price objective on Ziff Davis in a research report on Monday, May 11th. Finally, Evercore reaffirmed an “outperform” rating and set a $61.00 price objective on shares of Ziff Davis in a research note on Tuesday, May 12th. Three research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Ziff Davis has an average rating of “Hold” and an average price target of $47.25.

Ziff Davis 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.