CastleKnight Management LP Increases Position in Ziff Davis, Inc. $ZD

CastleKnight Management LP raised its position in Ziff Davis, Inc. (NASDAQ:ZD) by 25.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 318,603 shares of the technology company’s stock after purchasing an additional 65,103 shares during the period. CastleKnight Management LP owned 0.81% of Ziff Davis worth $11,199,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Federated Hermes Inc. purchased a new stake in shares of Ziff Davis in the 4th quarter valued at approximately $25,000. NBC Securities Inc. increased its position in shares of Ziff Davis by 121.3% in the 4th quarter. NBC Securities Inc. now owns 885 shares of the technology company’s stock valued at $31,000 after purchasing an additional 485 shares during the last quarter. Hantz Financial Services Inc. increased its position in shares of Ziff Davis by 212.2% in the 4th quarter. Hantz Financial Services Inc. now owns 868 shares of the technology company’s stock valued at $31,000 after purchasing an additional 590 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Ziff Davis by 207.1% in the 4th quarter. GAMMA Investing LLC now owns 906 shares of the technology company’s stock valued at $32,000 after purchasing an additional 611 shares during the last quarter. Finally, TD Private Client Wealth LLC purchased a new stake in shares of Ziff Davis in the 4th quarter valued at approximately $52,000. 99.76% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Jeremy Rossen sold 8,000 shares of the stock in a transaction on Friday, June 5th. The shares were sold at an average price of $47.00, for a total transaction of $376,000.00. Following the completion of the sale, the executive vice president owned 14,462 shares in the company, valued at $679,714. This represents a 35.62% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kirk P. Mcdonald sold 1,075 shares of the stock in a transaction on Monday, June 8th. The stock was sold at an average price of $46.65, for a total transaction of $50,148.75. Following the sale, the director owned 13,468 shares of the company’s stock, valued at approximately $628,282.20. This represents a 7.39% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 31,422 shares of company stock worth $1,468,864 in the last 90 days. Company insiders own 3.40% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Barclays increased their price objective on shares of Ziff Davis from $45.00 to $48.00 and gave the company an “equal weight” rating in a research report on Monday, May 11th. Piper Sandler set a $48.00 price objective on shares of Ziff Davis in a research report on Monday, May 11th. Zacks Research downgraded shares of Ziff Davis from a “hold” rating to a “strong sell” rating in a research report on Wednesday, May 6th. UBS Group dropped their target price on shares of Ziff Davis from $38.00 to $30.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 25th. Finally, Weiss Ratings raised shares of Ziff Davis from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, June 1st. Three investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $47.25.

Ziff Davis Stock Down 3.6%

Shares of NASDAQ:ZD opened at $44.32 on Thursday. The stock has a market cap of $1.63 billion, a P/E ratio of 39.22 and a beta of 1.12. The firm has a fifty day moving average price of $44.79 and a 200 day moving average price of $39.46. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.66 and a quick ratio of 1.66. Ziff Davis, Inc. has a 1-year low of $22.45 and a 1-year high of $50.55.

Ziff Davis (NASDAQ:ZD) last issued its quarterly earnings results on Thursday, May 7th. The technology company reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.01. The firm had revenue of $267.64 million during the quarter, compared to analysts’ expectations of $264.32 million. Ziff Davis had a net margin of 3.26% and a return on equity of 12.17%. Ziff Davis’s quarterly revenue was down 1.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.14 EPS. Sell-side analysts predict that Ziff Davis, Inc. will post 4.08 EPS for the current year.

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.