Dimensional Fund Advisors LP reduced its stake in j2 Global Inc. (NASDAQ:JCOM) by 2.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 948,443 shares of the company’s stock after selling 21,535 shares during the period. Dimensional Fund Advisors LP owned approximately 1.97% of j2 Global worth $59,911,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank acquired a new position in shares of j2 Global during the fourth quarter valued at $52,266,000. Aperio Group LLC raised its position in shares of j2 Global by 22.1% in the first quarter. Aperio Group LLC now owns 32,972 shares of the company’s stock valued at $2,030,000 after buying an additional 5,969 shares during the last quarter. Virginia Retirement System acquired a new position in shares of j2 Global during the first quarter valued at $708,000. TIAA CREF Investment Management LLC raised its position in shares of j2 Global by 15.4% in the first quarter. TIAA CREF Investment Management LLC now owns 208,804 shares of the company’s stock valued at $12,858,000 after buying an additional 27,888 shares during the last quarter. Finally, Teachers Advisors Inc. raised its position in shares of j2 Global by 1.0% in the first quarter. Teachers Advisors Inc. now owns 106,624 shares of the company’s stock valued at $6,566,000 after buying an additional 1,053 shares during the last quarter.
j2 Global Inc. (NASDAQ:JCOM) traded down 0.45% on Monday, hitting $66.31. The stock had a trading volume of 34,351 shares. j2 Global Inc. has a one year low of $55.43 and a one year high of $84.15. The firm has a market cap of $3.18 billion, a price-to-earnings ratio of 23.86 and a beta of 1.11. The company’s 50-day moving average price is $67.48 and its 200 day moving average price is $65.00.
j2 Global (NASDAQ:JCOM) last issued its quarterly earnings data on Wednesday, August 3rd. The company reported $1.21 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.15 by $0.06. j2 Global had a return on equity of 24.28% and a net margin of 17.16%. The firm earned $211.80 million during the quarter, compared to the consensus estimate of $206.41 million. During the same period in the previous year, the firm posted $0.99 EPS. The company’s quarterly revenue was up 20.3% compared to the same quarter last year. Analysts expect that j2 Global Inc. will post $4.90 earnings per share for the current year.
Several research analysts recently weighed in on JCOM shares. Citigroup Inc. reiterated a “buy” rating on shares of j2 Global in a research report on Saturday, July 9th. Zacks Investment Research upgraded j2 Global from a “hold” rating to a “buy” rating and set a $78.00 price objective for the company in a research report on Friday, August 5th. Finally, Robert W. Baird initiated coverage on j2 Global in a research report on Tuesday, August 30th. They issued an “outperform” rating and a $83.00 price objective for the company. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $85.17.
In related news, VP Jeremy Rossen sold 1,014 shares of j2 Global stock in a transaction that occurred on Thursday, August 25th. The stock was sold at an average price of $67.01, for a total transaction of $67,948.14. Following the completion of the transaction, the vice president now directly owns 24,708 shares in the company, valued at approximately $1,655,683.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director W Brian Kretzmer sold 6,600 shares of j2 Global stock in a transaction that occurred on Tuesday, August 30th. The stock was sold at an average price of $67.95, for a total value of $448,470.00. Following the transaction, the director now owns 14,897 shares of the company’s stock, valued at $1,012,251.15. The disclosure for this sale can be found here. Corporate insiders own 5.11% of the company’s stock.
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).
Receive News & Ratings for j2 Global Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for j2 Global Inc. and related companies with MarketBeat.com's FREE daily email newsletter.