Cornerstone Capital Management Holdings LLC. Increases Position in Zagg Inc (ZAGG)

Cornerstone Capital Management Holdings LLC. lifted its holdings in Zagg Inc (NASDAQ:ZAGG) by 14.3% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 223,600 shares of the specialty retailer’s stock after purchasing an additional 28,000 shares during the period. Cornerstone Capital Management Holdings LLC. owned approximately 0.80% of Zagg worth $4,124,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in ZAGG. SG Americas Securities LLC acquired a new position in Zagg during the 4th quarter worth approximately $108,000. Financial Gravity Companies Inc. acquired a new position in Zagg during the 4th quarter worth approximately $119,000. Caxton Associates LP acquired a new position in Zagg during the 4th quarter worth approximately $194,000. IFC Holdings Incorporated FL acquired a new position in Zagg during the 4th quarter worth approximately $229,000. Finally, Lazard Asset Management LLC acquired a new position in Zagg during the 4th quarter worth approximately $338,000. Hedge funds and other institutional investors own 81.10% of the company’s stock.

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Several research analysts have commented on the stock. Zacks Investment Research upgraded shares of Zagg from a “hold” rating to a “buy” rating and set a $19.00 price target for the company in a report on Sunday, January 21st. ValuEngine upgraded shares of Zagg from a “hold” rating to a “buy” rating in a report on Tuesday, January 16th. B. Riley set a $20.00 price target on shares of Zagg and gave the stock a “buy” rating in a report on Wednesday, January 17th. Northland Securities reiterated a “buy” rating and set a $23.00 price target on shares of Zagg in a report on Friday, December 1st. Finally, DA Davidson assumed coverage on shares of Zagg in a report on Thursday, March 15th. They set a “buy” rating and a $20.00 price target for the company. Four investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $17.57.

Shares of ZAGG stock opened at $12.25 on Friday. The firm has a market cap of $365.50, a P/E ratio of 23.56, a PEG ratio of 2.16 and a beta of 0.96. Zagg Inc has a 12-month low of $6.30 and a 12-month high of $23.70.

Zagg (NASDAQ:ZAGG) last issued its quarterly earnings data on Wednesday, March 7th. The specialty retailer reported $0.71 earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.02). The company had revenue of $176.92 million for the quarter, compared to analysts’ expectations of $167.15 million. Zagg had a return on equity of 24.90% and a net margin of 2.91%. The firm’s quarterly revenue was up 53.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.08) EPS. analysts forecast that Zagg Inc will post 1.33 earnings per share for the current year.

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About Zagg

ZAGG Inc (ZAGG) designs, produces and distributes professional product solutions for mobile devices, including screen protection (glass and film), keyboards for tablet computers and mobile devices, keyboard cases, earbuds, mobile power solutions, cables, and cases under the ZAGG and InvisibleShield brands.

Institutional Ownership by Quarter for Zagg (NASDAQ:ZAGG)

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