Summit Securities Group LLC Makes New Investment in Ziff Davis, Inc. (NASDAQ:ZD)

Summit Securities Group LLC acquired a new position in Ziff Davis, Inc. (NASDAQ:ZD) during the fourth quarter, Holdings Channel reports. The firm acquired 689 shares of the technology company’s stock, valued at approximately $37,000.

Other large investors have also bought and sold shares of the company. Intech Investment Management LLC raised its position in shares of Ziff Davis by 213.6% during the third quarter. Intech Investment Management LLC now owns 12,689 shares of the technology company’s stock worth $617,000 after purchasing an additional 8,643 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Ziff Davis by 9.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 695,542 shares of the technology company’s stock worth $33,845,000 after buying an additional 60,472 shares during the period. Public Sector Pension Investment Board purchased a new stake in Ziff Davis during the third quarter valued at about $4,618,000. Edgestream Partners L.P. acquired a new position in shares of Ziff Davis in the third quarter worth about $3,115,000. Finally, Maverick Capital Ltd. increased its position in shares of Ziff Davis by 34.6% in the third quarter. Maverick Capital Ltd. now owns 42,039 shares of the technology company’s stock worth $2,046,000 after acquiring an additional 10,797 shares in the last quarter. Institutional investors own 99.76% of the company’s stock.

Insider Transactions at Ziff Davis

In related news, Director Sarah Ann Fay acquired 1,282 shares of the business’s stock in a transaction that occurred on Tuesday, March 4th. The shares were acquired at an average cost of $39.00 per share, with a total value of $49,998.00. Following the purchase, the director now owns 18,655 shares of the company’s stock, valued at approximately $727,545. The trade was a 7.38 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Bret Richter bought 2,500 shares of Ziff Davis stock in a transaction that occurred on Wednesday, March 5th. The stock was bought at an average price of $39.21 per share, with a total value of $98,025.00. Following the completion of the acquisition, the chief financial officer now owns 16,339 shares in the company, valued at approximately $640,652.19. The trade was a 18.06 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired a total of 5,028 shares of company stock worth $198,024 in the last 90 days. 2.08% of the stock is owned by insiders.

Ziff Davis Trading Down 7.2 %

Shares of NASDAQ ZD opened at $38.15 on Monday. The stock has a market cap of $1.63 billion, a price-to-earnings ratio of 32.33 and a beta of 1.42. The business has a 50 day simple moving average of $47.20 and a 200 day simple moving average of $50.53. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.42 and a current ratio of 1.42. Ziff Davis, Inc. has a 52 week low of $37.62 and a 52 week high of $63.41.

Analyst Upgrades and Downgrades

ZD has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. decreased their price objective on shares of Ziff Davis from $70.00 to $60.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. UBS Group lowered their price target on Ziff Davis from $65.00 to $56.00 and set a “neutral” rating on the stock in a report on Wednesday, February 26th. Finally, Citigroup reduced their price objective on Ziff Davis from $58.00 to $52.00 and set a “neutral” rating for the company in a research note on Wednesday, February 26th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Ziff Davis presently has a consensus rating of “Moderate Buy” and a consensus target price of $65.67.

Ziff Davis Profile

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.