Ziff Davis, Inc. (NASDAQ:ZD) Sees Significant Drop in Short Interest

Ziff Davis, Inc. (NASDAQ:ZD) was the target of a significant drop in short interest in the month of March. As of March 13th, there was short interest totaling 4,048,253 shares, a drop of 29.9% from the February 26th total of 5,772,729 shares. Based on an average daily volume of 2,318,485 shares, the days-to-cover ratio is presently 1.7 days. Approximately 11.0% of the shares of the stock are short sold.

Ziff Davis Price Performance

Shares of NASDAQ ZD opened at $41.64 on Friday. The firm has a 50-day simple moving average of $36.70 and a 200-day simple moving average of $35.84. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $1.57 billion, a price-to-earnings ratio of 37.85 and a beta of 1.50. Ziff Davis has a 52 week low of $22.45 and a 52 week high of $50.55.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Federated Hermes Inc. purchased a new stake in shares of Ziff Davis in the fourth quarter valued at approximately $25,000. Hantz Financial Services Inc. lifted its position in Ziff Davis by 212.2% during the fourth quarter. Hantz Financial Services Inc. now owns 868 shares of the technology company’s stock worth $31,000 after buying an additional 590 shares in the last quarter. NBC Securities Inc. boosted its stake in Ziff Davis by 121.3% during the fourth quarter. NBC Securities Inc. now owns 885 shares of the technology company’s stock worth $31,000 after buying an additional 485 shares during the last quarter. GAMMA Investing LLC boosted its stake in Ziff Davis by 207.1% during the fourth quarter. GAMMA Investing LLC now owns 906 shares of the technology company’s stock worth $32,000 after buying an additional 611 shares during the last quarter. Finally, First Horizon Corp purchased a new stake in Ziff Davis in the 3rd quarter valued at $35,000. 99.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

ZD has been the subject of several research analyst reports. Weiss Ratings upgraded shares of Ziff Davis from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, March 18th. Barclays lifted their price objective on Ziff Davis from $34.00 to $45.00 and gave the stock an “equal weight” rating in a report on Wednesday, March 4th. UBS Group cut their price objective on Ziff Davis from $38.00 to $30.00 and set a “neutral” rating for the company in a research note on Wednesday, February 25th. JPMorgan Chase & Co. decreased their target price on Ziff Davis from $40.00 to $35.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 25th. Finally, Citigroup lifted their price target on Ziff Davis from $29.00 to $48.00 and gave the stock a “neutral” rating in a research note on Friday, March 6th. Three research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $41.13.

Ziff Davis Company 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.