Empowered Funds LLC Buys Shares of 160,823 Ziff Davis, Inc. $ZD

Empowered Funds LLC bought a new stake in shares of Ziff Davis, Inc. (NASDAQ:ZD) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 160,823 shares of the technology company’s stock, valued at approximately $8,422,000. Empowered Funds LLC owned about 0.47% of Ziff Davis at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in ZD. Public Employees Retirement System of Ohio boosted its holdings in shares of Ziff Davis by 17.1% during the first quarter. Public Employees Retirement System of Ohio now owns 2,189 shares of the technology company’s stock valued at $92,000 after acquiring an additional 319 shares during the period. California State Teachers Retirement System lifted its position in Ziff Davis by 1.4% in the 2nd quarter. California State Teachers Retirement System now owns 41,167 shares of the technology company’s stock valued at $1,246,000 after purchasing an additional 550 shares during the last quarter. Hantz Financial Services Inc. boosted its stake in Ziff Davis by 212.2% during the 4th quarter. Hantz Financial Services Inc. now owns 868 shares of the technology company’s stock valued at $31,000 after purchasing an additional 590 shares during the period. Rockefeller Capital Management L.P. grew its position in Ziff Davis by 226.7% in the 4th quarter. Rockefeller Capital Management L.P. now owns 990 shares of the technology company’s stock worth $35,000 after purchasing an additional 687 shares during the last quarter. Finally, Federated Hermes Inc. acquired a new stake in shares of Ziff Davis in the fourth quarter valued at approximately $25,000. 99.76% of the stock is currently owned by institutional investors.

Ziff Davis Price Performance

Shares of NASDAQ:ZD opened at $55.82 on Friday. The company has a market capitalization of $1.91 billion, a PE ratio of 3.16 and a beta of 1.08. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.16 and a current ratio of 2.16. The stock has a fifty day moving average of $53.02 and a 200-day moving average of $45.53. Ziff Davis, Inc. has a one year low of $22.45 and a one year high of $58.06.

Ziff Davis (NASDAQ:ZD) last announced its earnings results on Thursday, August 6th. The technology company reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.22. Ziff Davis had a return on equity of 10.73% and a net margin of 48.57%.The company had revenue of $286.74 million for the quarter, compared to analyst estimates of $286.10 million. During the same period in the previous year, the firm earned $1.24 earnings per share. Ziff Davis’s revenue for the quarter was down 18.7% compared to the same quarter last year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on ZD shares. Citigroup boosted their price objective on Ziff Davis from $48.00 to $59.00 and gave the stock a “neutral” rating in a research report on Monday, August 10th. Zacks Research downgraded Ziff Davis from a “hold” rating to a “strong sell” rating in a research note on Wednesday, May 6th. Weiss Ratings upgraded Ziff Davis from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday. Evercore reissued an “outperform” rating and issued a $64.00 price target on shares of Ziff Davis in a research note on Monday, August 10th. Finally, Barclays raised their price target on Ziff Davis from $45.00 to $48.00 and gave the company an “equal weight” rating in a report on Monday, May 11th. Three analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Ziff Davis has a consensus rating of “Hold” and a consensus target price of $56.62.

Insider Activity at Ziff Davis

In related news, 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 transaction of $50,148.75. Following the completion of the sale, the director directly owned 13,468 shares in the company, valued at approximately $628,282.20. This trade represents a 7.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Jeremy Rossen sold 8,000 shares of the business’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $47.00, for a total transaction of $376,000.00. Following the transaction, the executive vice president owned 14,462 shares in the company, valued at approximately $679,714. This represents a 35.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 34,807 shares of company stock worth $1,695,424. Company insiders own 3.40% of the company’s stock.

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.