Ziff Davis, Inc. (NASDAQ:ZD) Short Interest Down 16.8% in March

Ziff Davis, Inc. (NASDAQ:ZD) was the target of a significant decrease in short interest during the month of March. As of March 31st, there was short interest totalling 2,380,000 shares, a decrease of 16.8% from the March 15th total of 2,860,000 shares. Based on an average trading volume of 496,900 shares, the days-to-cover ratio is presently 4.8 days. Approximately 5.6% of the shares of the stock are sold short.

Wall Street Analyst Weigh In

ZD has been the subject of a number of research analyst reports. JPMorgan Chase & Co. lowered their price target on Ziff Davis from $70.00 to $60.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. Citigroup lowered 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 note on Wednesday, February 26th. Finally, UBS Group decreased their price objective on shares of Ziff Davis from $65.00 to $56.00 and set a “neutral” rating on the stock in a report on Wednesday, February 26th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $65.67.

Insider Buying and Selling at Ziff Davis

In other Ziff Davis news, Director W Brian Kretzmer acquired 653 shares of the company’s stock in a transaction that occurred on Thursday, March 6th. The stock was bought at an average price of $38.33 per share, with a total value of $25,029.49. Following the purchase, the director now owns 12,968 shares in the company, valued at approximately $497,063.44. The trade was a 5.30 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Bret Richter bought 2,500 shares of the firm’s stock in a transaction on Wednesday, March 5th. The stock was acquired at an average cost of $39.21 per share, for a total transaction of $98,025.00. Following the completion of the purchase, the chief financial officer now directly owns 16,339 shares in the company, valued at approximately $640,652.19. This represents a 18.06 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought 5,028 shares of company stock valued at $198,024 over the last quarter. 2.16% of the stock is currently owned by insiders.

Institutional Trading of Ziff Davis

Several institutional investors and hedge funds have recently made changes to their positions in the company. MML Investors Services LLC boosted its stake in Ziff Davis by 55.6% during the 3rd quarter. MML Investors Services LLC now owns 5,757 shares of the technology company’s stock worth $280,000 after purchasing an additional 2,057 shares during the period. Geode Capital Management LLC grew its holdings in shares of Ziff Davis by 3.0% during the third quarter. Geode Capital Management LLC now owns 1,274,762 shares of the technology company’s stock worth $62,040,000 after buying an additional 36,863 shares during the last quarter. Virtu Financial LLC acquired a new position in Ziff Davis in the 3rd quarter valued at about $503,000. Wilmington Savings Fund Society FSB purchased a new stake in Ziff Davis during the 3rd quarter valued at approximately $37,000. Finally, Franklin Resources Inc. purchased a new stake in Ziff Davis during the 3rd quarter valued at approximately $986,000. 99.76% of the stock is owned by hedge funds and other institutional investors.

Ziff Davis Stock Performance

Shares of ZD opened at $30.48 on Monday. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.49. Ziff Davis has a 52-week low of $30.20 and a 52-week high of $60.62. The stock has a 50 day moving average price of $40.27 and a 200 day moving average price of $48.65. The company has a market capitalization of $1.31 billion, a price-to-earnings ratio of 25.83 and a beta of 1.47.

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.