Chicago Capital LLC Reduces Position in Ziff Davis, Inc. (NASDAQ:ZD)

Chicago Capital LLC decreased its holdings in Ziff Davis, Inc. (NASDAQ:ZD) by 4.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 72,473 shares of the technology company’s stock after selling 3,001 shares during the period. Chicago Capital LLC owned 0.16% of Ziff Davis worth $3,527,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. PNC Financial Services Group Inc. boosted its stake in Ziff Davis by 8.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,095 shares of the technology company’s stock worth $208,000 after purchasing an additional 244 shares during the period. ARGA Investment Management LP purchased a new position in Ziff Davis during the first quarter valued at approximately $217,000. Cardinal Capital Management lifted its stake in Ziff Davis by 35.0% in the 1st quarter. Cardinal Capital Management now owns 25,454 shares of the technology company’s stock worth $1,605,000 after purchasing an additional 6,597 shares in the last quarter. AlphaMark Advisors LLC lifted its stake in Ziff Davis by 14.4% in the 1st quarter. AlphaMark Advisors LLC now owns 4,531 shares of the technology company’s stock worth $286,000 after purchasing an additional 570 shares in the last quarter. Finally, State of Michigan Retirement System boosted its stake in Ziff Davis by 2.7% during the first quarter. State of Michigan Retirement System now owns 11,340 shares of the technology company’s stock valued at $715,000 after buying an additional 300 shares during the period. Institutional investors own 99.76% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on ZD shares. Royal Bank of Canada reiterated an “outperform” rating and set a $95.00 target price on shares of Ziff Davis in a research report on Friday, September 6th. Barclays reduced their price target on Ziff Davis from $58.00 to $44.00 and set an “equal weight” rating on the stock in a research report on Friday, August 9th. Finally, Citigroup decreased their price objective on shares of Ziff Davis from $52.00 to $47.00 and set a “neutral” rating on the stock in a research report on Friday, August 9th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $71.50.

Ziff Davis Stock Performance

Shares of Ziff Davis stock opened at $46.98 on Friday. Ziff Davis, Inc. has a 12 month low of $37.76 and a 12 month high of $70.90. The firm has a market capitalization of $2.17 billion, a P/E ratio of 38.83 and a beta of 1.29. The business has a fifty day simple moving average of $46.85 and a two-hundred day simple moving average of $50.63. The company has a current ratio of 1.91, a quick ratio of 1.91 and a debt-to-equity ratio of 0.54.

Ziff Davis (NASDAQ:ZD) last announced its quarterly earnings results on Wednesday, August 7th. The technology company reported $1.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.08). Ziff Davis had a return on equity of 13.81% and a net margin of 5.86%. The firm had revenue of $320.80 million during the quarter, compared to the consensus estimate of $332.44 million. During the same quarter in the previous year, the firm earned $1.12 EPS. The business’s revenue for the quarter was down 1.6% on a year-over-year basis. On average, equities analysts forecast that Ziff Davis, Inc. will post 6.1 earnings per share for the current fiscal year.

Ziff Davis Profile

Ziff Davis, Inc, together with its subsidiaries, operates as a digital media and internet company in the United States and internationally. The company offers PCMag, an online resource for laboratory-based product reviews, technology news, buying guides, and research papers; Mashable for publishing technology and culture content; Spiceworks Ziff Davis provides digital content of IT products and services; retailMeNot, a savings destination platform; Offers.com, a coupon and deals website; and event-based properties, including BlackFriday.com, TheBlackFriday.com, BestBlackFriday.com, and DealsofAmerica.com.