Zedge (NYSEAMERICAN:ZDGE) Share Price Passes Below Fifty Day Moving Average – Here’s What Happened

Zedge, Inc. (NYSEAMERICAN:ZDGE) passed below its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $3.38 and traded as low as $3.06. Zedge shares last traded at $3.29, with a volume of 35,010 shares traded.

Wall Street Analysts Forecast Growth

Separately, UBS Group set a $6.00 target price on shares of Zedge in a research note on Monday, December 15th.

Zedge Price Performance

The business’s 50-day moving average price is $3.38 and its two-hundred day moving average price is $3.08. The company has a market capitalization of $41.06 million, a P/E ratio of -36.56 and a beta of 1.41.

Zedge Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 10th. Stockholders of record on Friday, January 30th were given a dividend of $0.016 per share. The ex-dividend date of this dividend was Friday, January 30th. This represents a $0.06 annualized dividend and a dividend yield of 1.9%. Zedge’s dividend payout ratio is currently -8.96%.

Institutional Investors Weigh In On Zedge

A number of hedge funds and other institutional investors have recently bought and sold shares of ZDGE. Heron Bay Capital Management raised its holdings in shares of Zedge by 285.0% in the second quarter. Heron Bay Capital Management now owns 87,976 shares of the company’s stock valued at $353,000 after purchasing an additional 65,127 shares during the last quarter. Marshall Wace LLP bought a new stake in Zedge in the second quarter valued at approximately $331,000. Bailard Inc. raised its stake in Zedge by 51.1% in the 4th quarter. Bailard Inc. now owns 60,100 shares of the company’s stock valued at $197,000 after acquiring an additional 20,337 shares during the period. Citadel Advisors LLC lifted its stake in shares of Zedge by 304.7% during the 3rd quarter. Citadel Advisors LLC now owns 49,520 shares of the company’s stock worth $144,000 after buying an additional 37,285 shares during the last quarter. Finally, HRT Financial LP acquired a new stake in Zedge during the fourth quarter worth approximately $158,000. Institutional investors and hedge funds own 29.37% of the company’s stock.

About Zedge

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.