Retirement Systems of Alabama raised its stake in shares of j2 Global Inc. (NASDAQ:JCOM) by 0.1% during the second quarter, Holdings Channel reports. The fund owned 59,671 shares of the company’s stock after buying an additional 54 shares during the period. Retirement Systems of Alabama’s holdings in j2 Global were worth $3,769,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in the stock. LS Investment Advisors LLC boosted 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 position in shares of 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 period. Fox Run Management L.L.C. purchased a new position in shares of j2 Global during the second quarter valued at approximately $253,000. Parametrica Management Ltd purchased a new position in shares of j2 Global during the second quarter valued at approximately $341,000. Finally, Bayesian Capital Management LP purchased a new position in shares of j2 Global during the first quarter valued at approximately $377,000.
j2 Global Inc. (NASDAQ:JCOM) traded up 2.25% during trading on Monday, reaching $64.50. The company had a trading volume of 344,686 shares. The firm’s 50 day moving average is $66.87 and its 200 day moving average is $65.40. The company has a market capitalization of $3.10 billion, a PE ratio of 23.21 and a beta of 1.11. j2 Global Inc. has a one year low of $55.43 and a one year high of $84.15.
j2 Global (NASDAQ:JCOM) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported $1.21 EPS for the quarter, beating 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 business had revenue of $211.80 million for the quarter, compared to the consensus estimate of $206.41 million. During the same period in the previous year, the business earned $0.99 earnings per share. The business’s revenue was up 20.3% on a year-over-year basis. On average, equities research analysts predict that j2 Global Inc. will post $4.90 earnings per share for the current year.
Several brokerages have recently commented on JCOM. Robert W. Baird began coverage on j2 Global in a research report on Tuesday, August 30th. They set an “outperform” rating and a $83.00 price objective on the stock. Citigroup Inc. reiterated a “buy” rating and set a $73.00 price objective on shares of j2 Global in a research report on Wednesday, August 17th. Finally, Zacks Investment Research upgraded j2 Global from a “hold” rating to a “buy” rating and set a $78.00 price objective on the stock in a research report on Friday, August 5th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four 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 other news, VP Jeremy Rossen sold 1,500 shares of the business’s stock in a transaction dated Friday, August 5th. The stock was sold at an average price of $69.73, for a total value of $104,595.00. Following the transaction, the vice president now directly owns 27,222 shares in the company, valued at $1,898,190.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director W Brian Kretzmer sold 6,600 shares of the business’s stock in a transaction dated Tuesday, August 30th. The shares were sold at an average price of $67.95, for a total value of $448,470.00. Following the completion of the transaction, the director now owns 14,897 shares in the company, valued at $1,012,251.15. The disclosure for this sale can be found here. 5.11% of the stock is owned by 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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