Chase Investment Counsel Corp reduced its position in j2 Global Inc. (NASDAQ:JCOM) by 7.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,630 shares of the company’s stock after selling 900 shares during the period. Chase Investment Counsel Corp’s holdings in j2 Global were worth $734,000 as of its most recent filing with the SEC.
A number of other institutional investors have also modified their holdings of the company. Acrospire Investment Management LLC acquired a new stake in j2 Global during the first quarter valued at approximately $111,000. LS Investment Advisors LLC raised its stake in j2 Global by 73.7% in the second quarter. LS Investment Advisors LLC now owns 2,799 shares of the company’s stock valued at $177,000 after buying an additional 1,188 shares during the last quarter. Mount Lucas Management LP raised its stake in j2 Global by 10.7% in the first quarter. Mount Lucas Management LP now owns 3,747 shares of the company’s stock valued at $231,000 after buying an additional 363 shares during the last quarter. Fox Run Management L.L.C. acquired a new stake in j2 Global during the second quarter valued at approximately $253,000. Finally, Parametrica Management Ltd acquired a new stake in j2 Global during the second quarter valued at approximately $341,000.
j2 Global Inc. (NASDAQ:JCOM) traded up 0.99% during midday trading on Wednesday, reaching $67.46. 153,719 shares of the company traded hands. The firm has a 50-day moving average of $67.67 and a 200-day moving average of $64.91. j2 Global Inc. has a 1-year low of $55.43 and a 1-year high of $84.15. The stock has a market capitalization of $3.24 billion, a P/E ratio of 24.27 and a beta of 1.21.
j2 Global (NASDAQ:JCOM) last released its quarterly earnings data on Wednesday, August 3rd. The company reported $1.21 EPS for the quarter, beating analysts’ consensus estimates of $1.15 by $0.06. j2 Global had a return on equity of 24.28% and a net margin of 17.16%. The business had revenue of $211.80 million for the quarter, compared to the consensus estimate of $206.41 million. During the same quarter in the prior year, the business posted $0.99 EPS. The business’s revenue for the quarter was up 20.3% on a year-over-year basis. On average, analysts predict that j2 Global Inc. will post $4.90 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 1st. Investors of record on Wednesday, August 17th were given a $0.345 dividend. The ex-dividend date of this dividend was Monday, August 15th. This is a boost from j2 Global’s previous quarterly dividend of $0.34. This represents a $1.38 dividend on an annualized basis and a dividend yield of 2.05%. j2 Global’s dividend payout ratio is 49.46%.
Several equities research analysts have recently commented on the stock. Citigroup Inc. reaffirmed a “buy” rating on shares of j2 Global in a research report on Saturday, July 9th. Zacks Investment Research raised shares of j2 Global from a “hold” rating to a “buy” rating and set a $78.00 price target for the company in a research report on Friday, August 5th. Finally, Robert W. Baird assumed coverage on shares of j2 Global in a research report on Tuesday, August 30th. They set an “outperform” rating and a $83.00 price target for the company. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. j2 Global presently has an average rating of “Buy” and a consensus target price of $85.17.
In related news, Director W Brian Kretzmer sold 6,600 shares of the company’s stock in a transaction dated Tuesday, August 30th. The stock was sold at an average price of $67.95, for a total value of $448,470.00. Following the completion of the sale, the director now directly owns 14,897 shares of the company’s stock, valued at approximately $1,012,251.15. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Jeremy Rossen sold 1,500 shares of the company’s stock in a transaction dated Friday, August 5th. The shares were sold at an average price of $69.73, for a total value of $104,595.00. Following the completion of the sale, the vice president now directly owns 27,222 shares of the company’s stock, valued at $1,898,190.06. The disclosure for this sale can be found here. 5.11% of the stock is owned by corporate insiders.
j2 Global Company Profile
j2 Global, Inc is a provider of services delivered through the Internet. The Company provides cloud services to businesses of all sizes, from individuals to enterprises. The Company operates in two segments: Business Cloud Services and Digital Media. The Company’s Digital Media business segment consists of the Web properties and business operations of Ziff Davis, Inc (Ziff Davis).
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