The Vanguard Group, Inc. has recently announced that it has increased stake in Ziff Davis Inc. (NASDAQ:ZD) by 1.56%. After grabbing 4.4 million shares, the institutional investor is now in possession of 67583.0 shares of the Communication Services Company. The new investment brought the stake of investor firm to 9.33% having worth around $348.2 million. Moreover, ArrowMark Colorado Holdings LLC increased its share by 5632.0 to have a control over 2.56 million shares. And Wellington Management Co. LLP raised its holdings to 0.42 million shares by acquiring 1.86 million shares or 3.94% of the stake.
Ziff Davis Inc. (ZD) concluded trading on 01/18/23 at a closing price of $81.68, with 0.36 million shares of worth about $29.01 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 0.60% during that period and on Wednesday the price saw a loss of about -1.01%. Currently the company’s common shares owned by public are about 46.87M shares, out of which, 44.86M shares are available for trading.
A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 10 analysts are covering the ZD stock and their offered price forecasts bring an average price target of $100.44. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $133.00 and could fall to a lowest price of $85.00. The stock’s current price level is 18.68% above of average price target set by the analysts, while a rise to estimated low would result in gain of 3.91% for the stock. However, touching the estimated high of $133.00 would mean a gain of 38.59% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 38 times over the past 12 months. They bought 16,584 shares in 15 of the transactions. In 23 selling transactions, insiders dumped 32,172 shares.
Janus Henderson Triton Fund, iShares Core S&P Mid Cap ETF, and Legal & General UCITS ETF PLC – C are the top 3 mutual funds which are holding stakes in Ziff Davis Inc. Janus Henderson Triton Fund is currently holding 1.5 million shares of worth totaling $118.28 million. The company recently came selling 41119.0 shares which brought its stake up to 3.17% of the company’s outstanding shares. iShares Core S&P Mid Cap ETF sold 277.0 shares, after which its hold over company’s outstanding shares shrunk to 3.09%, leaving 1.46 million shares with the mutual fund that have a worth of about $115.17 million. Legal & General UCITS ETF PLC – C, after selling 1.4 million shares, have now control over 2.97% of the stake in the company. It holds 5252.0 shares of worth $110.8 million.
Ziff Davis Inc. (NASDAQ: ZD) started trading at $83.04, above $0.53 from concluding price of the previous day. However, the stock later moved at a day high price of 83.37, or with a loss of -1.01%. Stock saw a price change of -1.59% in past 5 days and over the past one month there was a price change of 0.99%. Year-to-date (YTD), ZD shares are showing a performance of 3.26% which decreased to -24.49% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $66.85 but also hit the highest price of $110.87 during that period. The average intraday trading volume for Ziff Davis Inc. shares is 259.15K. The stock is currently trading 1.73% above its 20-day simple moving average (SMA20), while that difference is down -2.47% for SMA50 and it goes to 1.06% higher than SMA200.
The Vanguard Group, Inc. acquired 4.4 million shares of Ziff Davis Inc. having value of about $348.2 million. Data submitted at the U.S SEC by The Vanguard Group, Inc. revealed that the firm now holds 67583.0 shares in the company valued at close to $5520179.44, or have control over 1.56% stake in the company. Holding of mutual funds in the company is about 31.04% while other institutional holders and individual stake holders have control over 72.57% and 3.21% of the stake respectively.
The stock has a current market capitalization of $3.90B and its 3Y-monthly beta is at 1.13. PE ratio of stock for trailing 12 months is 10.43, while it has posted earnings per share of $7.83 in the same period. Its PEG reads 1.21 and has Quick Ratio of 2.30 while making debt-to-equity ratio of 0.56. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for ZD, volatility over the week remained 2.52% while standing at 2.53% over the month.
Analysts are in expectations that Ziff Davis Inc. (ZD) stock would likely to be making an EPS of $1.53 in the current quarter, while forecast for next quarter EPS is $2.36 and it is $7.16 for next year. For the current quarter EPS, analysts have given the company a lowest target $1.42 which is $1.69 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $2.34 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 6.60% while it is estimated to increase by 5.91% in next year. EPS is likely to shrink at an annualized rate of 8.60% for next 5-years, compared to annual growth of 21.80% made by the stock over the past 5-years.
Analysts at 10 brokerage firms have issued recommendations for the Ziff Davis Inc. (ZD)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.10. Out of those 10 Wall Street analysts, 7 recommended a “Buy” rating, while 3 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Barclays on January 06, 2023 offering an Equal weight rating for the stock and assigned a target price of $88 to it. Coverage by Citigroup stated Ziff Davis Inc. (ZD) stock as a Neutral in their note to investors on December 13, 2022, suggesting a price target of $100 for the stock. On September 20, 2022, Evercore ISI Initiated their recommendations, while on December 15, 2021, Citigroup Resumed their ratings for the stock with a price target of $150. Stock get an Outperform rating from Wedbush on November 30, 2021.