Victory Capital Management Inc. Decreases Holdings in Ziff Davis, Inc. (NASDAQ:ZD)

Victory Capital Management Inc. cut its stake in shares of Ziff Davis, Inc. (NASDAQ:ZD) by 5.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 51,016 shares of the technology company’s stock after selling 2,889 shares during the period. Victory Capital Management Inc.’s holdings in Ziff Davis were worth $2,772,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB purchased a new stake in Ziff Davis during the 3rd quarter valued at $37,000. First Horizon Advisors Inc. raised its stake in Ziff Davis by 42.9% during the 4th quarter. First Horizon Advisors Inc. now owns 866 shares of the technology company’s stock valued at $47,000 after buying an additional 260 shares during the last quarter. TD Private Client Wealth LLC raised its stake in Ziff Davis by 19.2% during the 3rd quarter. TD Private Client Wealth LLC now owns 1,549 shares of the technology company’s stock valued at $75,000 after buying an additional 249 shares during the last quarter. Central Pacific Bank Trust Division raised its stake in Ziff Davis by 17.9% during the 4th quarter. Central Pacific Bank Trust Division now owns 3,220 shares of the technology company’s stock valued at $175,000 after buying an additional 490 shares during the last quarter. Finally, FORA Capital LLC purchased a new stake in Ziff Davis during the 3rd quarter valued at $210,000. 99.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director W Brian Kretzmer acquired 653 shares of the company’s stock in a transaction on Thursday, March 6th. The stock was acquired 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 approximately $497,063.44. This trade represents a 5.30 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, CFO Bret Richter acquired 2,500 shares of the company’s stock in a transaction on Wednesday, March 5th. The shares were bought at an average cost of $39.21 per share, with a total value of $98,025.00. Following the acquisition, the chief financial officer now directly owns 16,339 shares in the company, valued at approximately $640,652.19. The trade was a 18.06 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders bought 5,028 shares of company stock valued at $198,024. Company insiders own 2.08% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. UBS Group cut 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 report on Wednesday, February 26th. Citigroup cut their price objective 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, JPMorgan Chase & Co. cut their price objective on shares of Ziff Davis from $70.00 to $60.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Ziff Davis presently has a consensus rating of “Moderate Buy” and an average target price of $65.67.

Ziff Davis Trading Up 4.1 %

Shares of Ziff Davis stock opened at $40.25 on Monday. The company has a market capitalization of $1.72 billion, a P/E ratio of 34.11 and a beta of 1.42. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.42 and a current ratio of 1.42. The company has a fifty day moving average of $49.54 and a 200 day moving average of $50.97. Ziff Davis, Inc. has a fifty-two week low of $37.62 and a fifty-two week high of $64.04.

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.