Ziff Davis (NASDAQ:ZD) Posts Earnings Results, Beats Expectations By $0.22 EPS

Ziff Davis (NASDAQ:ZD) announced its earnings results on Thursday. The technology company reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.22, Briefing.com reports. The company had revenue of $286.74 million during the quarter, compared to analyst estimates of $286.10 million. Ziff Davis had a net margin of 48.57% and a return on equity of 11.46%. The firm’s quarterly revenue was down 18.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.24 earnings per share.

Ziff Davis Trading Up 5.7%

Shares of NASDAQ ZD traded up $2.92 during midday trading on Friday, hitting $53.87. 1,472,437 shares of the company traded hands, compared to its average volume of 538,090. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.66 and a current ratio of 1.66. Ziff Davis has a 12-month low of $22.45 and a 12-month high of $58.06. The stock has a 50-day moving average price of $50.23 and a 200 day moving average price of $43.66. The firm has a market cap of $1.98 billion, a P/E ratio of 3.05 and a beta of 1.08.

Insiders Place Their Bets

In other Ziff Davis news, CFO Bret Richter sold 18,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $46.88, for a total transaction of $843,840.00. Following the transaction, the chief financial officer owned 29,244 shares in the company, valued at approximately $1,370,958.72. This represents a 38.10% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kirk P. Mcdonald sold 1,075 shares of the firm’s stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $46.65, for a total value of $50,148.75. Following the completion of the transaction, the director owned 13,468 shares of the company’s stock, valued at approximately $628,282.20. The trade was a 7.39% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 31,422 shares of company stock worth $1,468,864. Company insiders own 3.40% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. boosted its stake in Ziff Davis by 260.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 597,573 shares of the technology company’s stock valued at $21,005,000 after purchasing an additional 431,828 shares during the last quarter. AQR Capital Management LLC boosted its position in shares of Ziff Davis by 88.5% during the fourth quarter. AQR Capital Management LLC now owns 399,259 shares of the technology company’s stock valued at $14,034,000 after buying an additional 187,431 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in Ziff Davis by 46.1% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 552,385 shares of the technology company’s stock worth $21,046,000 after buying an additional 174,287 shares in the last quarter. Boussard & Gavaudan Investment Management LLP purchased a new position in Ziff Davis in the 4th quarter worth about $3,539,000. Finally, Amundi lifted its stake in Ziff Davis by 374.3% during the 3rd quarter. Amundi now owns 125,475 shares of the technology company’s stock valued at $4,960,000 after acquiring an additional 99,018 shares during the period. Hedge funds and other institutional investors own 99.76% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Weiss Ratings raised Ziff Davis from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, June 1st. Royal Bank Of Canada boosted their target price on Ziff Davis from $40.00 to $48.00 and gave the stock an “outperform” rating in a research report on Monday, May 11th. Zacks Research lowered Ziff Davis from a “hold” rating to a “strong sell” rating in a research note on Wednesday, May 6th. Barclays lifted their price target on shares of Ziff Davis from $45.00 to $48.00 and gave the stock an “equal weight” rating in a research note on Monday, May 11th. Finally, 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. Three 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 data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target 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.