Ziff Davis (NASDAQ:ZD) Reaches New 52-Week Low - Here's What Happened

Ziff Davis, Inc. (NASDAQ:ZD - Get Free Report)'s stock price hit a new 52-week low on Monday . The company traded as low as $30.77 and last traded at $31.07, with a volume of 31433 shares traded. The stock had previously closed at $33.48.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Citigroup dropped their target price on Ziff Davis from $58.00 to $52.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 26th. JPMorgan Chase & Co. dropped their price objective on Ziff Davis from $70.00 to $60.00 and set an "overweight" rating on the stock in a report on Wednesday, February 26th. Finally, UBS Group reduced their target price on Ziff Davis from $65.00 to $56.00 and set a "neutral" rating for the company in a report on Wednesday, February 26th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Ziff Davis presently has an average rating of "Moderate Buy" and an average price target of $65.67.

Ziff Davis Trading Down 1.1 %

The stock has a 50 day moving average of $42.49 and a 200 day moving average of $49.20. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.42 and a quick ratio of 1.42. The firm has a market cap of $1.36 billion, a P/E ratio of 26.92 and a beta of 1.47.

Insider Activity

In related news, Director W Brian Kretzmer purchased 653 shares of the firm's stock in a transaction on Thursday, March 6th. The shares were acquired at an average cost of $38.33 per share, with a total value of $25,029.49. Following the purchase, the director now directly owns 12,968 shares of the company's stock, valued at approximately $497,063.44. This trade represents a 5.30 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Sarah Ann Fay acquired 1,282 shares of the company's stock in a transaction dated Tuesday, March 4th. The shares were bought 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. This trade represents a 7.38 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 5,028 shares of company stock valued at $198,024. Corporate insiders own 2.08% of the company's stock.

Hedge Funds Weigh In On Ziff Davis

A number of hedge funds have recently modified their holdings of ZD. MML Investors Services LLC increased its stake in shares of Ziff Davis by 55.6% during the third quarter. MML Investors Services LLC now owns 5,757 shares of the technology company's stock valued at $280,000 after buying an additional 2,057 shares during the period. Geode Capital Management LLC increased its position in Ziff Davis by 3.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,274,762 shares of the technology company's stock valued at $62,040,000 after purchasing an additional 36,863 shares during the period. TD Private Client Wealth LLC raised its holdings in Ziff Davis by 19.2% in the 3rd quarter. TD Private Client Wealth LLC now owns 1,549 shares of the technology company's stock worth $75,000 after purchasing an additional 249 shares in the last quarter. Virtu Financial LLC bought a new position in Ziff Davis in the 3rd quarter worth $503,000. Finally, Wilmington Savings Fund Society FSB purchased a new stake in shares of Ziff Davis in the 3rd quarter worth about $37,000. Hedge funds and other institutional investors own 99.76% of the company's stock.

Ziff Davis Company 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.