TB Alternative Assets Ltd. increased its position in Zillow Group Inc (NASDAQ:Z) by 1,553.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 110,800 shares of the financial services provider’s stock after buying an additional 104,100 shares during the quarter. Zillow Group comprises about 0.5% of TB Alternative Assets Ltd.’s investment portfolio, making the stock its 18th biggest position. TB Alternative Assets Ltd.’s holdings in Zillow Group were worth $3,304,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Coastal Investment Advisors Inc. increased its holdings in Zillow Group by 177.0% in the 2nd quarter. Coastal Investment Advisors Inc. now owns 554 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 354 shares in the last quarter. WealthStone Inc. acquired a new stake in Zillow Group in the 2nd quarter valued at $30,000. MUFG Americas Holdings Corp acquired a new stake in Zillow Group in the 2nd quarter valued at $32,000. Kavar Capital Partners LLC acquired a new stake in Zillow Group in the 2nd quarter valued at $87,000. Finally, Steward Partners Investment Advisory LLC acquired a new stake in Zillow Group in the 2nd quarter valued at $99,000. 69.22% of the stock is currently owned by institutional investors and hedge funds.
NASDAQ:Z traded up $1.00 during mid-day trading on Thursday, reaching $32.27. The stock had a trading volume of 126,478 shares, compared to its average volume of 2,922,879. Zillow Group Inc has a 1-year low of $26.38 and a 1-year high of $51.47. The stock’s 50 day simple moving average is $31.05 and its two-hundred day simple moving average is $39.01. The company has a quick ratio of 2.76, a current ratio of 3.67 and a debt-to-equity ratio of 0.28.
Zillow Group (NASDAQ:Z) last posted its quarterly earnings results on Wednesday, August 7th. The financial services provider reported ($0.35) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.14) by ($0.21). The firm had revenue of $599.58 million during the quarter. Zillow Group had a negative return on equity of 5.12% and a negative net margin of 13.49%.
In related news, CAO Jennifer Rock sold 1,950 shares of Zillow Group stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $35.73, for a total value of $69,673.50. Following the completion of the transaction, the chief accounting officer now directly owns 35,105 shares in the company, valued at $1,254,301.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Lloyd D. Frink sold 12,500 shares of Zillow Group stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $47.43, for a total value of $592,875.00. Following the completion of the transaction, the chairman now owns 3,288,108 shares of the company’s stock, valued at $155,954,962.44. The disclosure for this sale can be found here. Insiders sold 23,489 shares of company stock valued at $984,064 over the last quarter. Insiders own 19.87% of the company’s stock.
Several brokerages recently issued reports on Z. ValuEngine upgraded Zillow Group from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. BidaskClub upgraded Zillow Group from a “sell” rating to a “hold” rating in a report on Wednesday. TheStreet downgraded Zillow Group from a “c-” rating to a “d+” rating in a research note on Wednesday, September 4th. Standpoint Research downgraded Zillow Group from a “buy” rating to a “hold” rating in a research note on Tuesday, July 16th. Finally, KeyCorp lowered their target price on Zillow Group from $66.00 to $65.00 and set an “overweight” rating for the company in a research note on Thursday, August 8th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the stock. Zillow Group currently has an average rating of “Hold” and a consensus price target of $40.55.
About Zillow Group
Zillow Group, Inc operates real estate and home-related brands on mobile and the Web in the United States. The company offers a portfolio of brands and products to empowering consumers with unparalleled data, inspiration, and knowledge around homes and connecting them with real estate professionals. Its brands focus on various stages of the home lifecycle, including renting, buying, selling, and financing.
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