Legato Capital Management LLC Boosts Stake in Ziff Davis, Inc. (NASDAQ:ZD)

Legato Capital Management LLC increased its holdings in shares of Ziff Davis, Inc. (NASDAQ:ZD) by 26.1% in the 2nd quarter, HoldingsChannel reports. The firm owned 18,233 shares of the technology company’s stock after acquiring an additional 3,772 shares during the quarter. Legato Capital Management LLC’s holdings in Ziff Davis were worth $1,004,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. OLD Point Trust & Financial Services N A purchased a new position in shares of Ziff Davis in the fourth quarter worth about $34,000. EverSource Wealth Advisors LLC grew its holdings in Ziff Davis by 362.2% during the 4th quarter. EverSource Wealth Advisors LLC now owns 513 shares of the technology company’s stock worth $34,000 after acquiring an additional 402 shares in the last quarter. First Horizon Advisors Inc. grew its holdings in Ziff Davis by 32.2% during the 4th quarter. First Horizon Advisors Inc. now owns 686 shares of the technology company’s stock worth $46,000 after acquiring an additional 167 shares in the last quarter. Bfsg LLC acquired a new position in Ziff Davis during the 1st quarter worth approximately $49,000. Finally, Signaturefd LLC increased its stake in Ziff Davis by 86.2% in the fourth quarter. Signaturefd LLC now owns 996 shares of the technology company’s stock valued at $67,000 after purchasing an additional 461 shares during the period. Hedge funds and other institutional investors own 99.76% of the company’s stock.

Ziff Davis Price Performance

Ziff Davis stock traded down $0.02 during trading hours on Tuesday, hitting $47.08. 196,715 shares of the company traded hands, compared to its average volume of 361,340. The firm has a market cap of $2.17 billion, a P/E ratio of 38.93 and a beta of 1.29. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.53. The firm’s 50-day simple moving average is $48.45 and its two-hundred day simple moving average is $55.47. Ziff Davis, Inc. has a 1-year low of $37.76 and a 1-year high of $70.90.

Ziff Davis (NASDAQ:ZD) last released its earnings results on Wednesday, August 7th. The technology company reported $1.18 EPS for the quarter, missing the consensus estimate of $1.26 by ($0.08). Ziff Davis had a net margin of 4.36% and a return on equity of 14.26%. The company had revenue of $320.80 million for the quarter, compared to analyst estimates of $332.44 million. During the same period in the previous year, the business posted $1.12 EPS. The firm’s quarterly revenue was down 1.6% on a year-over-year basis. As a group, analysts forecast that Ziff Davis, Inc. will post 6.09 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. JPMorgan Chase & Co. raised shares of Ziff Davis from a “neutral” rating to an “overweight” rating and set a $70.00 target price on the stock in a report on Thursday, May 2nd. Barclays lowered their target price on shares of Ziff Davis from $58.00 to $44.00 and set an “equal weight” rating on the stock in a report on Friday, August 9th. Citigroup lowered their target price on shares of Ziff Davis from $52.00 to $47.00 and set a “neutral” rating on the stock in a report on Friday, August 9th. Finally, Wedbush decreased their price objective on shares of Ziff Davis from $78.00 to $70.00 and set an “outperform” rating on the stock in a report on Friday, May 10th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $71.50.

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.