Ziff Davis (NASDAQ:ZD) Hits New 52-Week Low – Here’s Why

Ziff Davis, Inc. (NASDAQ:ZD)’s stock price reached a new 52-week low during mid-day trading on Monday . The company traded as low as $36.82 and last traded at $37.28, with a volume of 20450 shares traded. The stock had previously closed at $38.15.

Analyst Upgrades and Downgrades

ZD has been the topic of several research reports. JPMorgan Chase & Co. cut their target price on Ziff Davis from $70.00 to $60.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. Citigroup reduced their target price on shares of Ziff Davis from $58.00 to $52.00 and set a “neutral” rating for the company in a research report on Wednesday, February 26th. Finally, UBS Group dropped their price objective on shares of Ziff Davis from $65.00 to $56.00 and set a “neutral” rating for the company in a research note on Wednesday, February 26th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Ziff Davis currently has an average rating of “Moderate Buy” and a consensus price target of $65.67.

Ziff Davis Trading Down 2.0 %

The company has a market cap of $1.60 billion, a P/E ratio of 31.69 and a beta of 1.42. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.49. The firm’s 50 day moving average is $47.20 and its two-hundred day moving average is $50.53.

Insider Activity

In other Ziff Davis news, CFO Bret Richter bought 2,500 shares of the stock in a transaction that occurred on Wednesday, March 5th. The shares were bought at an average price of $39.21 per share, for a total transaction of $98,025.00. Following the acquisition, the chief financial officer now directly owns 16,339 shares of the company’s stock, valued at approximately $640,652.19. The trade was a 18.06 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director W Brian Kretzmer purchased 653 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The shares were bought at an average price of $38.33 per share, with a total value of $25,029.49. Following the acquisition, the director now directly owns 12,968 shares of the company’s stock, valued at $497,063.44. This represents a 5.30 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 5,028 shares of company stock valued at $198,024. Company insiders own 2.08% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Millstone Evans Group LLC bought a new stake in Ziff Davis in the fourth quarter worth about $35,000. Quadrant Capital Group LLC lifted its stake in Ziff Davis by 278.9% in the fourth quarter. Quadrant Capital Group LLC now owns 663 shares of the technology company’s stock valued at $36,000 after purchasing an additional 488 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in Ziff Davis during the third quarter valued at $37,000. Summit Securities Group LLC bought a new position in Ziff Davis during the fourth quarter valued at $37,000. Finally, First Horizon Advisors Inc. increased its position in Ziff Davis by 42.9% in the fourth quarter. First Horizon Advisors Inc. now owns 866 shares of the technology company’s stock worth $47,000 after buying an additional 260 shares during the last quarter. Institutional investors own 99.76% of the company’s stock.

Ziff Davis Company 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.