Central Pacific Bank Trust Division Grows Stake in Ziff Davis, Inc. (NASDAQ:ZD)

Central Pacific Bank Trust Division boosted its holdings in Ziff Davis, Inc. (NASDAQ:ZD) by 17.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,220 shares of the technology company’s stock after purchasing an additional 490 shares during the quarter. Central Pacific Bank Trust Division’s holdings in Ziff Davis were worth $175,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Victory Capital Management Inc. boosted its position in shares of Ziff Davis by 69.8% in the 3rd quarter. Victory Capital Management Inc. now owns 53,905 shares of the technology company’s stock valued at $2,623,000 after purchasing an additional 22,155 shares during the period. Franklin Resources Inc. acquired a new stake in shares of Ziff Davis in the third quarter valued at approximately $986,000. Virtu Financial LLC purchased a new position in shares of Ziff Davis during the third quarter worth approximately $503,000. Empowered Funds LLC acquired a new position in shares of Ziff Davis in the 3rd quarter valued at $7,210,000. Finally, Rice Hall James & Associates LLC raised its position in Ziff Davis by 11.0% in the 3rd quarter. Rice Hall James & Associates LLC now owns 501,313 shares of the technology company’s stock valued at $24,394,000 after purchasing an additional 49,510 shares during the last quarter. 99.76% of the stock is currently owned by hedge funds and other institutional investors.

Ziff Davis Trading Up 1.0 %

Shares of ZD stock opened at $55.31 on Friday. The business’s fifty day moving average price is $55.38 and its 200 day moving average price is $50.52. The firm has a market capitalization of $2.36 billion, a PE ratio of 46.87 and a beta of 1.35. 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, Inc. has a 1-year low of $37.76 and a 1-year high of $70.90.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. UBS Group dropped their price objective on shares of Ziff Davis from $76.00 to $65.00 and set a “neutral” rating on the stock in a research note on Tuesday, December 3rd. Barclays boosted their target price on Ziff Davis from $44.00 to $61.00 and gave the company an “equal weight” rating in a report on Monday, November 11th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Ziff Davis presently has an average rating of “Moderate Buy” and an average price target of $69.71.

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.