Ziff Davis, Inc. (NASDAQ:ZD) Sees Large Decrease in Short Interest

Ziff Davis, Inc. (NASDAQ:ZD - Get Free Report) was the target of a significant decrease in short interest during the month of March. As of March 31st, there was short interest totalling 2,380,000 shares, a decrease of 16.8% from the March 15th total of 2,860,000 shares. Based on an average daily volume of 496,900 shares, the days-to-cover ratio is presently 4.8 days. Currently, 5.6% of the shares of the company are sold short.

Ziff Davis Trading Up 0.8 %

Shares of ZD traded up $0.24 during midday trading on Thursday, hitting $30.69. The stock had a trading volume of 42,524 shares, compared to its average volume of 504,466. The stock's 50 day moving average is $38.90 and its 200 day moving average is $48.30. The firm has a market cap of $1.32 billion, a PE ratio of 26.00 and a beta of 1.47. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.42 and a quick ratio of 1.42. Ziff Davis has a 1 year low of $29.34 and a 1 year high of $60.62.

Analyst Upgrades and Downgrades

Several analysts have recently commented on ZD shares. JPMorgan Chase & Co. downgraded shares of Ziff Davis from an "overweight" rating to a "neutral" rating and decreased their price objective for the company from $60.00 to $33.00 in a research report on Tuesday. UBS Group lowered their price objective on shares of Ziff Davis from $65.00 to $56.00 and set a "neutral" rating for the company in a research report on Wednesday, February 26th. Finally, Citigroup reduced their target price on shares of Ziff Davis from $58.00 to $52.00 and set a "neutral" rating on the stock in a report on Wednesday, February 26th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Ziff Davis currently has an average rating of "Hold" and a consensus price target of $61.17.

Insiders Place Their Bets

In other news, Director Sarah Ann Fay bought 1,282 shares of the stock in a transaction dated Tuesday, March 4th. The stock was bought at an average price of $39.00 per share, for a total transaction of $49,998.00. Following the purchase, the director now directly owns 18,655 shares in the company, valued at $727,545. This trade represents a 7.38 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director W Brian Kretzmer bought 653 shares of the business's stock in a transaction dated Thursday, March 6th. The stock was bought at an average cost of $38.33 per share, for a total transaction of $25,029.49. Following the completion of the purchase, the director now owns 12,968 shares of the company's stock, valued at approximately $497,063.44. The trade was a 5.30 % increase in their position. The disclosure for this purchase can be found here. Insiders acquired 5,028 shares of company stock worth $198,024 over the last quarter. 2.16% of the stock is currently owned by company insiders.

Institutional Trading of Ziff Davis

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its stake in shares of Ziff Davis by 148.4% during the first quarter. GAMMA Investing LLC now owns 713 shares of the technology company's stock valued at $27,000 after purchasing an additional 426 shares during the period. Millstone Evans Group LLC purchased a new stake in Ziff Davis in the 4th quarter valued at about $35,000. Quadrant Capital Group LLC boosted its position in Ziff Davis by 278.9% in the 4th quarter. Quadrant Capital Group LLC now owns 663 shares of the technology company's stock valued at $36,000 after buying an additional 488 shares during the period. Wilmington Savings Fund Society FSB bought a new position in Ziff Davis in the 3rd quarter worth about $37,000. Finally, Summit Securities Group LLC purchased a new position in shares of Ziff Davis during the fourth quarter worth approximately $37,000. 99.76% of the stock is owned by hedge funds and other institutional investors.

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.