Kendall Capital Management purchased a new position in shares of J2 Global Inc (NASDAQ:JCOM) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,800 shares of the technology company’s stock, valued at approximately $285,000.
Several other hedge funds also recently added to or reduced their stakes in JCOM. Aurora Investment Counsel acquired a new position in J2 Global in the fourth quarter worth $2,007,000. American International Group Inc. boosted its holdings in J2 Global by 2.9% in the third quarter. American International Group Inc. now owns 130,050 shares of the technology company’s stock worth $9,608,000 after purchasing an additional 3,714 shares during the period. Stevens Capital Management LP boosted its holdings in J2 Global by 90.3% in the third quarter. Stevens Capital Management LP now owns 15,164 shares of the technology company’s stock worth $1,120,000 after purchasing an additional 7,194 shares during the period. Bank of New York Mellon Corp boosted its holdings in J2 Global by 5.1% in the third quarter. Bank of New York Mellon Corp now owns 725,098 shares of the technology company’s stock worth $53,570,000 after purchasing an additional 35,378 shares during the period. Finally, California Public Employees Retirement System boosted its holdings in J2 Global by 2.9% in the third quarter. California Public Employees Retirement System now owns 113,495 shares of the technology company’s stock worth $8,385,000 after purchasing an additional 3,195 shares during the period.
In related news, CEO Vivek Shah sold 3,000 shares of J2 Global stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $76.59, for a total transaction of $229,770.00. Following the sale, the chief executive officer now directly owns 745,232 shares in the company, valued at $57,077,318.88. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 5.15% of the stock is owned by insiders.
J2 Global (NASDAQ:JCOM) last issued its quarterly earnings data on Tuesday, February 6th. The technology company reported $1.79 earnings per share for the quarter, beating analysts’ consensus estimates of $1.70 by $0.09. J2 Global had a net margin of 12.47% and a return on equity of 26.82%. The business had revenue of $316.38 million for the quarter, compared to analysts’ expectations of $319.00 million. During the same period in the previous year, the business earned $1.49 earnings per share. The company’s revenue was up 25.6% on a year-over-year basis. research analysts predict that J2 Global Inc will post 5.55 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 9th. Investors of record on Thursday, February 22nd were paid a dividend of $0.405 per share. This is a boost from J2 Global’s previous quarterly dividend of $0.40. This represents a $1.62 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date of this dividend was Wednesday, February 21st. J2 Global’s payout ratio is currently 57.24%.
JCOM has been the subject of a number of research reports. Zacks Investment Research raised shares of J2 Global from a “sell” rating to a “hold” rating in a report on Tuesday, December 19th. BidaskClub downgraded shares of J2 Global from a “hold” rating to a “sell” rating in a report on Thursday, December 7th. William Blair reaffirmed an “outperform” rating on shares of J2 Global in a report on Wednesday, February 7th. Robert W. Baird lifted their price objective on shares of J2 Global from $94.00 to $95.00 and gave the stock an “outperform” rating in a report on Wednesday, February 7th. Finally, ValuEngine downgraded shares of J2 Global from a “buy” rating to a “hold” rating in a report on Thursday, March 1st. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $99.50.
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About J2 Global
j2 Global, Inc is a provider of services delivered through the Internet. The Company provides cloud services to businesses of all sizes, from individuals to enterprises. The Company operates in two segments: Business Cloud Services and Digital Media. The Company’s Digital Media business segment consists of the Web properties and business operations of Ziff Davis, Inc (Ziff Davis).
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