Ziff Davis, Inc. $ZD is Varde Management L.P.’s Largest Position

Varde Management L.P. increased its position in shares of Ziff Davis, Inc. (NASDAQ:ZD) by 16.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 624,028 shares of the technology company’s stock after buying an additional 90,000 shares during the period. Ziff Davis accounts for 47.8% of Varde Management L.P.’s holdings, making the stock its biggest position. Varde Management L.P.’s holdings in Ziff Davis were worth $32,680,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Corsair Capital Management L.P. acquired a new stake in shares of Ziff Davis during the 1st quarter valued at about $1,888,000. Aldebaran Capital LLC acquired a new position in Ziff Davis in the 1st quarter worth about $1,728,000. NewGen Asset Management Ltd acquired a new position in Ziff Davis in the 1st quarter worth about $2,203,000. Incline Global Management LLC boosted its position in Ziff Davis by 8.1% during the fourth quarter. Incline Global Management LLC now owns 401,933 shares of the technology company’s stock worth $14,128,000 after purchasing an additional 30,212 shares in the last quarter. Finally, First Trust Advisors LP boosted its position in Ziff Davis by 689.6% during the first quarter. First Trust Advisors LP now owns 974,591 shares of the technology company’s stock worth $40,894,000 after purchasing an additional 851,163 shares in the last quarter. Institutional investors and hedge funds own 99.76% of the company’s stock.

Analysts Set New Price Targets

ZD has been the subject of a number of recent analyst reports. Susquehanna boosted their price objective on Ziff Davis from $60.00 to $75.00 and gave the company a “positive” rating in a research report on Monday, August 10th. UBS Group lifted their price target on shares of Ziff Davis from $30.00 to $59.00 and gave the company a “neutral” rating in a research note on Wednesday, August 12th. Piper Sandler set a $48.00 price target on shares of Ziff Davis in a report on Monday, May 11th. Barclays upped their price objective on shares of Ziff Davis from $45.00 to $48.00 and gave the stock an “equal weight” rating in a research report on Monday, May 11th. Finally, Evercore reiterated an “outperform” rating and issued a $64.00 target price on shares of Ziff Davis in a research report on Monday, August 10th. Three investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $56.62.

Insiders Place Their Bets

In other Ziff Davis news, CFO Bret Richter sold 18,000 shares of the firm’s stock in a transaction 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 completion of the sale, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Jeremy Rossen sold 3,819 shares of Ziff Davis stock in a transaction on Monday, August 10th. The shares were sold at an average price of $54.93, for a total value of $209,777.67. Following the completion of the sale, the executive vice president owned 10,643 shares in the company, valued at $584,619.99. This represents a 26.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 25,732 shares of company stock valued at $1,269,276. 3.40% of the stock is currently owned by insiders.

Ziff Davis Trading Up 0.1%

Shares of ZD stock traded up $0.03 on Tuesday, hitting $55.73. 550,998 shares of the stock traded hands, compared to its average volume of 770,332. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.16 and a current ratio of 2.16. Ziff Davis, Inc. has a twelve month low of $22.45 and a twelve month high of $58.06. The firm’s 50-day moving average price is $53.90 and its two-hundred day moving average price is $46.68. The stock has a market capitalization of $1.91 billion, a PE ratio of 3.15 and a beta of 1.09.

Ziff Davis (NASDAQ:ZD) last posted its earnings results on Thursday, August 6th. The technology company reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.22. Ziff Davis had a net margin of 48.57% and a return on equity of 10.73%. 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 business posted $1.24 EPS. Ziff Davis’s revenue was down 18.7% on a year-over-year basis.

Ziff Davis 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.