NewGen Asset Management Ltd Invests $2.20 Million in Ziff Davis, Inc. $ZD

NewGen Asset Management Ltd bought a new position in Ziff Davis, Inc. (NASDAQ:ZD) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 52,500 shares of the technology company’s stock, valued at approximately $2,203,000. Ziff Davis comprises approximately 0.9% of NewGen Asset Management Ltd’s portfolio, making the stock its 16th largest position.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Brave Asset Management Inc. raised its stake in shares of Ziff Davis by 11.9% in the 1st quarter. Brave Asset Management Inc. now owns 470,282 shares of the technology company’s stock valued at $19,733,000 after acquiring an additional 50,127 shares during the period. Range Financial Group LLC purchased a new stake in Ziff Davis during the 4th quarter worth $1,297,000. LSV Asset Management increased its holdings in Ziff Davis by 17.5% in the 4th quarter. LSV Asset Management now owns 907,721 shares of the technology company’s stock valued at $31,906,000 after purchasing an additional 135,021 shares in the last quarter. Incline Global Management LLC increased its holdings in Ziff Davis by 8.1% in the 4th quarter. Incline Global Management LLC now owns 401,933 shares of the technology company’s stock valued at $14,128,000 after purchasing an additional 30,212 shares in the last quarter. Finally, Aldebaran Capital LLC purchased a new position in Ziff Davis in the first quarter valued at about $1,728,000. Institutional investors and hedge funds own 99.76% of the company’s stock.

Insider Transactions at Ziff Davis

In other news, EVP Jeremy Rossen sold 8,000 shares of the company’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $47.00, for a total value of $376,000.00. Following the sale, the executive vice president owned 14,462 shares in the company, valued at approximately $679,714. This represents a 35.62% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Bret Richter sold 18,000 shares of Ziff Davis stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $46.88, for a total value of $843,840.00. Following the completion of the transaction, the chief financial officer owned 29,244 shares of the company’s stock, valued at $1,370,958.72. This trade represents a 38.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 31,422 shares of company stock valued at $1,468,864. Insiders own 3.40% of the company’s stock.

Ziff Davis Stock Up 0.7%

ZD stock opened at $54.38 on Tuesday. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.42. The firm has a 50 day simple moving average of $47.38 and a 200-day simple moving average of $42.02. The company has a market capitalization of $2.00 billion, a P/E ratio of 48.12 and a beta of 1.08. Ziff Davis, Inc. has a twelve month low of $22.45 and a twelve month high of $54.95.

Ziff Davis (NASDAQ:ZD) last posted its quarterly earnings results on Thursday, May 7th. The technology company reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.01. Ziff Davis had a net margin of 3.26% and a return on equity of 12.17%. The firm had revenue of $267.64 million for the quarter, compared to analysts’ expectations of $264.32 million. During the same period in the prior year, the company posted $1.14 earnings per share. The firm’s quarterly revenue was down 1.9% on a year-over-year basis.

Analyst Upgrades and Downgrades

A number of research analysts have commented on ZD shares. Royal Bank Of Canada boosted their price objective on Ziff Davis from $40.00 to $48.00 and gave the stock an “outperform” rating in a research note on Monday, May 11th. Piper Sandler set a $48.00 target price on Ziff Davis in a report on Monday, May 11th. Evercore reissued an “outperform” rating and set a $61.00 price target on shares of Ziff Davis in a research report on Tuesday, May 12th. Barclays upped their price target on Ziff Davis from $45.00 to $48.00 and gave the stock an “equal weight” rating in a report on Monday, May 11th. Finally, Weiss Ratings raised shares of Ziff Davis from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, June 1st. Three research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Ziff Davis currently has a consensus rating of “Hold” and an average target price of $47.25.

About Ziff Davis

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.