Ziff Davis (NASDAQ:ZD) Sets New 1-Year Low – What’s Next?

Ziff Davis, Inc. (NASDAQ:ZD)’s stock price hit a new 52-week low during mid-day trading on Monday . The company traded as low as $30.77 and last traded at $31.07, with a volume of 31433 shares trading hands. The stock had previously closed at $33.48.

Wall Street Analyst Weigh In

ZD has been the subject of a number of recent research reports. UBS Group lowered their target price on Ziff Davis from $65.00 to $56.00 and set a “neutral” rating for the company in a research note on Wednesday, February 26th. Citigroup reduced their target price on Ziff Davis from $58.00 to $52.00 and set a “neutral” rating on the stock in a report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Ziff Davis from $70.00 to $60.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $65.67.

Ziff Davis Stock Performance

The business has a fifty day moving average price of $45.43 and a 200-day moving average price of $50.05. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $1.38 billion, a P/E ratio of 27.31 and a beta of 1.47.

Insiders Place Their Bets

In related news, Director W Brian Kretzmer bought 653 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The shares were bought at an average cost of $38.33 per share, with a total value of $25,029.49. Following the acquisition, the director now owns 12,968 shares in the company, valued at $497,063.44. This trade represents a 5.30 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Bret Richter purchased 2,500 shares of the business’s stock in a transaction on Wednesday, March 5th. The shares were bought at an average cost of $39.21 per share, with a total value of $98,025.00. Following the acquisition, the chief financial officer now directly owns 16,339 shares of the company’s stock, valued at $640,652.19. This trade represents a 18.06 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 5,028 shares of company stock valued at $198,024. Company insiders own 2.08% of the company’s stock.

Hedge Funds Weigh In On Ziff Davis

Hedge funds have recently made changes to their positions in the business. Janus Henderson Group PLC increased its holdings in Ziff Davis by 8.5% in the 4th quarter. Janus Henderson Group PLC now owns 3,487,495 shares of the technology company’s stock valued at $189,512,000 after acquiring an additional 272,895 shares during the last quarter. Legal & General Group Plc boosted its stake in Ziff Davis by 12.4% during the fourth quarter. Legal & General Group Plc now owns 2,425,947 shares of the technology company’s stock valued at $131,826,000 after buying an additional 267,436 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Ziff Davis by 5.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,412,780 shares of the technology company’s stock valued at $131,112,000 after buying an additional 118,979 shares in the last quarter. CDAM UK Ltd raised its holdings in shares of Ziff Davis by 16.6% during the 4th quarter. CDAM UK Ltd now owns 1,492,860 shares of the technology company’s stock worth $81,122,000 after acquiring an additional 213,071 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Ziff Davis by 3.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,274,762 shares of the technology company’s stock worth $62,040,000 after acquiring an additional 36,863 shares in the last quarter. Institutional investors own 99.76% of the company’s stock.

About Ziff Davis

Ziff Davis, Inc, together with its subsidiaries, operates as a digital media and internet company in the United States and internationally. The company offers PCMag, an online resource for laboratory-based product reviews, technology news, buying guides, and research papers; Mashable for publishing technology and culture content; Spiceworks Ziff Davis provides digital content of IT products and services; retailMeNot, a savings destination platform; Offers.com, a coupon and deals website; and event-based properties, including BlackFriday.com, TheBlackFriday.com, BestBlackFriday.com, and DealsofAmerica.com.