Empowered Funds LLC Purchases New Position in Ziff Davis, Inc. (NASDAQ:ZD)

Empowered Funds LLC acquired a new position in Ziff Davis, Inc. (NASDAQ:ZD) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 148,175 shares of the technology company’s stock, valued at approximately $7,210,000. Empowered Funds LLC owned about 0.33% of Ziff Davis at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. CIBC Asset Management Inc bought a new stake in shares of Ziff Davis in the 3rd quarter worth about $217,000. Victory Capital Management Inc. increased its stake in Ziff Davis by 69.8% during the third quarter. Victory Capital Management Inc. now owns 53,905 shares of the technology company’s stock worth $2,623,000 after acquiring an additional 22,155 shares during the last quarter. GSA Capital Partners LLP purchased a new stake in Ziff Davis during the third quarter valued at approximately $775,000. Atria Investments Inc lifted its stake in shares of Ziff Davis by 36.3% in the 3rd quarter. Atria Investments Inc now owns 8,396 shares of the technology company’s stock valued at $409,000 after purchasing an additional 2,234 shares during the last quarter. Finally, Easterly Investment Partners LLC lifted its stake in shares of Ziff Davis by 32.2% in the 3rd quarter. Easterly Investment Partners LLC now owns 18,890 shares of the technology company’s stock valued at $919,000 after purchasing an additional 4,604 shares during the last quarter. 99.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on ZD shares. Barclays raised their price target on Ziff Davis from $44.00 to $61.00 and gave the stock an “equal weight” rating in a research report on Monday, November 11th. Royal Bank of Canada restated an “outperform” rating and issued a $95.00 target price on shares of Ziff Davis in a report on Friday, September 6th. Finally, Citigroup cut their price target on shares of Ziff Davis from $52.00 to $47.00 and set a “neutral” rating on the stock in a 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. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $71.29.

Ziff Davis Price Performance

Shares of ZD stock opened at $55.10 on Friday. The company has a market capitalization of $2.36 billion, a P/E ratio of 46.69 and a beta of 1.29. The company’s 50-day simple moving average is $48.58 and its two-hundred day simple moving average is $50.15. Ziff Davis, Inc. has a one year low of $37.76 and a one year high of $70.90. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.42 and a quick ratio of 1.91.

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.