Ziff Davis (NASDAQ:ZD) Trading Down 6.2% – Should You Sell?

Ziff Davis, Inc. (NASDAQ:ZD) was down 6.2% during trading on Monday . The stock traded as low as $31.17 and last traded at $31.4350. 173,147 shares changed hands during trading, a decline of 69% from the average session volume of 564,070 shares. The stock had previously closed at $33.51.

Wall Street Analysts Forecast Growth

ZD has been the topic of several research analyst reports. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Ziff Davis in a report on Wednesday, January 21st. UBS Group dropped their target price on shares of Ziff Davis from $40.00 to $38.00 and set a “neutral” rating for the company in a research report on Monday, November 10th. Citigroup decreased their price target on shares of Ziff Davis from $42.00 to $35.00 and set a “neutral” rating on the stock in a report on Monday, November 10th. Barclays lowered their price objective on shares of Ziff Davis from $40.00 to $34.00 and set an “equal weight” rating on the stock in a research report on Monday, November 10th. Finally, Zacks Research upgraded shares of Ziff Davis from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 6th. One analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $37.50.

Ziff Davis Trading Down 4.6%

The company has a debt-to-equity ratio of 0.48, a current ratio of 1.61 and a quick ratio of 1.61. The stock has a market capitalization of $1.24 billion, a P/E ratio of 12.48 and a beta of 1.46. The firm’s 50 day moving average price is $36.02 and its 200 day moving average price is $35.60.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in ZD. Legal & General Group Plc lifted its stake in shares of Ziff Davis by 9.0% in the 2nd quarter. Legal & General Group Plc now owns 2,669,113 shares of the technology company’s stock valued at $80,794,000 after purchasing an additional 221,445 shares during the period. Geode Capital Management LLC grew its holdings in Ziff Davis by 1.7% in the second quarter. Geode Capital Management LLC now owns 1,081,156 shares of the technology company’s stock worth $32,730,000 after purchasing an additional 18,577 shares during the period. Nordea Investment Management AB increased its stake in shares of Ziff Davis by 3.5% during the second quarter. Nordea Investment Management AB now owns 1,035,836 shares of the technology company’s stock valued at $31,438,000 after purchasing an additional 35,197 shares in the last quarter. LSV Asset Management lifted its holdings in shares of Ziff Davis by 17.5% during the fourth quarter. LSV Asset Management now owns 907,721 shares of the technology company’s stock valued at $31,906,000 after purchasing an additional 135,021 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its position in shares of Ziff Davis by 16.4% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 626,137 shares of the technology company’s stock worth $19,911,000 after purchasing an additional 88,014 shares in the last quarter. 99.76% of the stock is owned by hedge funds and other institutional investors.

About Ziff Davis

Ziff Davis, Inc is a digital media and internet company that operates a diverse portfolio of online brands, subscription-based services and performance marketing platforms. The company specializes in technology publishing and digital marketing solutions, offering content, reviews and insights tailored to consumer and enterprise audiences. Ziff Davis’s flagship media properties include PCMag, which provides expert reviews and comparisons of consumer electronics and software, as well as IGN, a leading destination for gaming news, reviews and entertainment coverage.

Founded in 1927 by William B.