Ziff Davis (NASDAQ:ZD) Sets New 52-Week Low – Here’s Why

Ziff Davis, Inc. (NASDAQ:ZD) reached a new 52-week low during trading on Thursday . The company traded as low as $37.62 and last traded at $38.10, with a volume of 18252 shares. The stock had previously closed at $38.17.

Analyst Ratings Changes

ZD has been the topic of a number of recent analyst reports. Citigroup cut their price target on shares of Ziff Davis from $58.00 to $52.00 and set a “neutral” rating on the stock in a report on Wednesday, February 26th. UBS Group decreased their price target 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. JPMorgan Chase & Co. decreased their target price on Ziff Davis from $70.00 to $60.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. Finally, Barclays upped their target price on shares of Ziff Davis from $44.00 to $61.00 and gave the company an “equal weight” rating in a research note on Monday, November 11th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $65.67.

Ziff Davis Stock Performance

The stock has a 50-day moving average of $51.32 and a 200 day moving average of $51.16. The stock has a market cap of $1.75 billion, a PE ratio of 34.62 and a beta of 1.42. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.49.

Insider Buying and Selling at Ziff Davis

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

Hedge Funds Weigh In On Ziff Davis

Several institutional investors have recently bought and sold shares of ZD. Millstone Evans Group LLC acquired a new stake in shares of Ziff Davis in the fourth quarter valued at about $35,000. Quadrant Capital Group LLC lifted its position in shares of Ziff Davis by 278.9% during the 4th quarter. Quadrant Capital Group LLC now owns 663 shares of the technology company’s stock valued at $36,000 after acquiring an additional 488 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in shares of Ziff Davis during the 3rd quarter worth approximately $37,000. Summit Securities Group LLC acquired a new stake in shares of Ziff Davis in the 4th quarter worth approximately $37,000. Finally, First Horizon Advisors Inc. increased its stake in Ziff Davis by 42.9% in the 4th quarter. First Horizon Advisors Inc. now owns 866 shares of the technology company’s stock valued at $47,000 after purchasing an additional 260 shares in the last quarter. 99.76% of the stock is owned by institutional investors and hedge funds.

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.