Zedge, Inc. (ZDGE) to Issue Quarterly Dividend of $0.02 on June 30th

Zedge, Inc. (NYSEAMERICAN:ZDGE) announced a quarterly dividend on Thursday, June 4th. Shareholders of record on Monday, June 22nd will be paid a dividend of 0.02 per share on Tuesday, June 30th. This represents a c) annualized dividend and a yield of 2.7%. The ex-dividend date is Monday, June 22nd.

Zedge Price Performance

Shares of NYSEAMERICAN:ZDGE opened at $2.99 on Friday. The company’s 50-day moving average price is $3.10 and its two-hundred day moving average price is $3.13. Zedge has a one year low of $2.21 and a one year high of $4.89. The stock has a market capitalization of $37.49 million, a PE ratio of -33.22 and a beta of 1.26.

Zedge (NYSEAMERICAN:ZDGE) last announced its quarterly earnings data on Thursday, June 11th. The company reported $0.07 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.02. The company had revenue of $7.99 million during the quarter, compared to analysts’ expectations of $7.00 million. Zedge had a positive return on equity of 11.18% and a negative net margin of 3.62%. On average, analysts anticipate that Zedge will post 0.31 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Zedge

A number of institutional investors and hedge funds have recently modified their holdings of the company. Marshall Wace LLP acquired a new stake in Zedge in the 2nd quarter valued at about $331,000. Bailard Inc. grew its holdings in Zedge by 51.1% during the fourth quarter. Bailard Inc. now owns 60,100 shares of the company’s stock worth $197,000 after purchasing an additional 20,337 shares during the period. NewEdge Advisors LLC increased its position in Zedge by 2,923.0% during the first quarter. NewEdge Advisors LLC now owns 58,918 shares of the company’s stock worth $173,000 after buying an additional 56,969 shares during the last quarter. Hillsdale Investment Management Inc. increased its position in Zedge by 1,982.8% during the first quarter. Hillsdale Investment Management Inc. now owns 50,653 shares of the company’s stock worth $148,000 after buying an additional 48,221 shares during the last quarter. Finally, Citadel Advisors LLC raised its stake in Zedge by 304.7% in the third quarter. Citadel Advisors LLC now owns 49,520 shares of the company’s stock valued at $144,000 after buying an additional 37,285 shares during the period. 29.37% of the stock is owned by institutional investors.

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.