Zedge, Inc. (NYSEAMERICAN:ZDGE) Short Interest Update

Zedge, Inc. (NYSEAMERICAN:ZDGE) was the target of a large drop in short interest during the month of January. As of January 15th, there was short interest totaling 195,447 shares, a drop of 37.9% from the December 31st total of 314,591 shares. Based on an average trading volume of 96,900 shares, the days-to-cover ratio is presently 2.0 days. Approximately 2.0% of the company’s shares are sold short. Approximately 2.0% of the company’s shares are sold short. Based on an average trading volume of 96,900 shares, the days-to-cover ratio is presently 2.0 days.

Zedge Stock Performance

Shares of ZDGE opened at $3.19 on Friday. The stock has a 50 day simple moving average of $3.12 and a 200 day simple moving average of $3.22. Zedge has a 52-week low of $1.73 and a 52-week high of $4.89. The firm has a market capitalization of $39.81 million, a PE ratio of -35.44 and a beta of 1.37.

Zedge Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 10th. Shareholders of record on Friday, January 30th will be issued a dividend of $0.016 per share. This represents a $0.06 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Friday, January 30th. Zedge’s dividend payout ratio is -8.96%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Heron Bay Capital Management grew its holdings in shares of Zedge by 285.0% during the second quarter. Heron Bay Capital Management now owns 87,976 shares of the company’s stock worth $353,000 after buying an additional 65,127 shares in the last quarter. Marshall Wace LLP acquired a new position in Zedge during the 2nd quarter worth approximately $331,000. Citadel Advisors LLC grew its stake in shares of Zedge by 304.7% during the 3rd quarter. Citadel Advisors LLC now owns 49,520 shares of the company’s stock worth $144,000 after acquiring an additional 37,285 shares in the last quarter. NewEdge Advisors LLC bought a new position in shares of Zedge during the 2nd quarter worth approximately $191,000. Finally, Welch Group LLC raised its holdings in shares of Zedge by 274.9% in the third quarter. Welch Group LLC now owns 45,671 shares of the company’s stock valued at $133,000 after purchasing an additional 33,488 shares during the last quarter. 29.37% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, UBS Group set a $6.00 target price on shares of Zedge in a research note on Monday, December 15th.

Zedge Company Profile

Zedge, Inc (NYSE American: ZDGE) is a digital media and technology company that operates a mobile personalization platform. Through its flagship Zedge app and website, the company provides consumers with a wide range of downloadable digital content, including wallpapers, ringtones, notification sounds, app icons and lock screens. The platform accommodates both free and premium content, enabling users to customize their smartphones and tablets according to personal taste.

The company’s platform features content created by independent designers and established media brands, and it supports multiple languages and regional preferences.