Zedge (NYSEAMERICAN:ZDGE) Shares Cross Above 50 Day Moving Average – What’s Next?

Zedge, Inc. (NYSEAMERICAN:ZDGE)’s share price crossed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $3.05 and traded as high as $3.39. Zedge shares last traded at $3.27, with a volume of 41,512 shares trading hands.

Zedge Trading Down 0.9%

The stock’s 50-day moving average is $3.05 and its 200-day moving average is $3.06. The company has a market cap of $40.94 million, a price-to-earnings ratio of -21.80 and a beta of 1.32.

Zedge Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Monday, April 6th were given a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date was Monday, April 6th. This is a boost from Zedge’s previous quarterly dividend of $0.02. Zedge’s dividend payout ratio is presently -8.96%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Marshall Wace LLP acquired a new position in shares of Zedge during the 2nd quarter valued at $331,000. NewEdge Advisors LLC acquired a new position in shares of Zedge during the 2nd quarter valued at $191,000. HRT Financial LP acquired a new position in shares of Zedge during the 4th quarter valued at $158,000. Citadel Advisors LLC lifted its position in shares of Zedge by 304.7% during the 3rd quarter. Citadel Advisors LLC now owns 49,520 shares of the company’s stock valued at $144,000 after acquiring an additional 37,285 shares during the period. Finally, Goldman Sachs Group Inc. lifted its position in shares of Zedge by 35.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 42,029 shares of the company’s stock valued at $138,000 after acquiring an additional 11,022 shares during the period. Institutional investors and hedge funds own 29.37% of the company’s stock.

Zedge Company Profile

Zedge, Inc (NYSE American: ZDGE) is a digital media and technology company that operates a mobile personalization platform. Through its flagship Zedge app and website, the company provides consumers with a wide range of downloadable digital content, including wallpapers, ringtones, notification sounds, app icons and lock screens. The platform accommodates both free and premium content, enabling users to customize their smartphones and tablets according to personal taste.

The company’s platform features content created by independent designers and established media brands, and it supports multiple languages and regional preferences.