Illinois Municipal Retirement Fund Sells 1,823 Shares of Ziff Davis, Inc. (NASDAQ:ZD)

Illinois Municipal Retirement Fund lowered its position in shares of Ziff Davis, Inc. (NASDAQ:ZD) by 7.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 21,795 shares of the technology company’s stock after selling 1,823 shares during the quarter. Illinois Municipal Retirement Fund owned 0.05% of Ziff Davis worth $819,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Arrowstreet Capital Limited Partnership boosted its position in shares of Ziff Davis by 369.7% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 434,779 shares of the technology company’s stock worth $23,626,000 after acquiring an additional 342,207 shares during the last quarter. Janus Henderson Group PLC boosted its stake in Ziff Davis by 8.5% during the fourth quarter. Janus Henderson Group PLC now owns 3,487,495 shares of the technology company’s stock valued at $189,512,000 after buying an additional 272,895 shares during the last quarter. Legal & General Group Plc grew its holdings in Ziff Davis by 12.4% during the 4th quarter. Legal & General Group Plc now owns 2,425,947 shares of the technology company’s stock valued at $131,826,000 after buying an additional 267,436 shares in the last quarter. CDAM UK Ltd increased its stake in Ziff Davis by 16.6% in the 4th quarter. CDAM UK Ltd now owns 1,492,860 shares of the technology company’s stock worth $81,122,000 after acquiring an additional 213,071 shares during the last quarter. Finally, Ruffer LLP bought a new stake in Ziff Davis in the 4th quarter worth approximately $7,946,000. 99.76% of the stock is currently owned by institutional investors.

Ziff Davis Stock Performance

Shares of Ziff Davis stock opened at $32.55 on Thursday. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 0.47. The stock’s fifty day moving average price is $31.89 and its 200-day moving average price is $41.25. The firm has a market cap of $1.37 billion, a P/E ratio of 19.73 and a beta of 1.58. Ziff Davis, Inc. has a 12 month low of $29.15 and a 12 month high of $60.62.

Wall Street Analyst Weigh In

ZD has been the subject of a number of recent research reports. JPMorgan Chase & Co. lowered shares of Ziff Davis from an “overweight” rating to a “neutral” rating and cut their target price for the company from $60.00 to $33.00 in a report on Tuesday, April 22nd. Susquehanna reduced their target price on shares of Ziff Davis from $80.00 to $45.00 and set a “positive” rating on the stock in a research note on Monday, May 12th. Wall Street Zen raised shares of Ziff Davis from a “hold” rating to a “buy” rating in a research note on Friday, June 27th. Citigroup reduced their price objective on shares of Ziff Davis from $52.00 to $35.00 and set a “neutral” rating on the stock in a research report on Friday, April 25th. Finally, Barclays cut their target price on Ziff Davis from $48.00 to $34.00 and set an “equal weight” rating on the stock in a research note on Tuesday, May 13th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $47.00.

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.