QRG Capital Management Inc. Trims Stake in Ziff Davis, Inc. (NASDAQ:ZD)

QRG Capital Management Inc. reduced its position in Ziff Davis, Inc. (NASDAQ:ZD) by 43.6% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 10,269 shares of the technology company’s stock after selling 7,944 shares during the period. QRG Capital Management Inc.’s holdings in Ziff Davis were worth $500,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Rothschild Investment LLC purchased a new stake in shares of Ziff Davis in the 2nd quarter valued at about $25,000. Quest Partners LLC purchased a new stake in shares of Ziff Davis in the 2nd quarter valued at about $38,000. Innealta Capital LLC purchased a new stake in shares of Ziff Davis in the 2nd quarter valued at about $75,000. Blue Trust Inc. lifted its holdings in shares of Ziff Davis by 72.4% in the 2nd quarter. Blue Trust Inc. now owns 1,686 shares of the technology company’s stock valued at $93,000 after purchasing an additional 708 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale purchased a new stake in shares of Ziff Davis in the 2nd quarter valued at about $93,000. 99.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ZD. Barclays dropped their price target on Ziff Davis from $58.00 to $44.00 and set an “equal weight” rating on the stock in a research report on Friday, August 9th. Royal Bank of Canada restated an “outperform” rating and issued a $95.00 price target on shares of Ziff Davis in a research report on Friday, September 6th. Finally, Citigroup dropped their price target on Ziff Davis from $52.00 to $47.00 and set a “neutral” rating on the stock in a research report on Friday, August 9th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Ziff Davis currently has a consensus rating of “Moderate Buy” and a consensus target price of $68.86.

Ziff Davis Price Performance

Shares of Ziff Davis stock opened at $56.65 on Monday. Ziff Davis, Inc. has a twelve month low of $37.76 and a twelve month high of $70.90. The stock has a market capitalization of $2.53 billion, a P/E ratio of 48.01 and a beta of 1.29. The company has a current ratio of 1.91, a quick ratio of 1.91 and a debt-to-equity ratio of 0.54. The business’s fifty day moving average price is $47.60 and its 200 day moving average price is $49.91.

About Ziff Davis

Ziff Davis, Inc, together with its subsidiaries, operates as a digital media and internet company in the United States and internationally. The company offers PCMag, an online resource for laboratory-based product reviews, technology news, buying guides, and research papers; Mashable for publishing technology and culture content; Spiceworks Ziff Davis provides digital content of IT products and services; retailMeNot, a savings destination platform; Offers.com, a coupon and deals website; and event-based properties, including BlackFriday.com, TheBlackFriday.com, BestBlackFriday.com, and DealsofAmerica.com.