Rhumbline Advisers Sells 5,899 Shares of Ziff Davis, Inc. (NASDAQ:ZD)

Rhumbline Advisers cut its stake in shares of Ziff Davis, Inc. (NASDAQ:ZD) by 4.2% in the fourth quarter, Holdings Channel reports. The fund owned 134,224 shares of the technology company’s stock after selling 5,899 shares during the period. Rhumbline Advisers’ holdings in Ziff Davis were worth $7,294,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in ZD. Victory Capital Management Inc. increased its holdings in Ziff Davis by 69.8% during 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 in the last quarter. Franklin Resources Inc. acquired a new position in Ziff Davis in the third quarter worth $986,000. Virtu Financial LLC bought a new stake in shares of Ziff Davis during the third quarter worth $503,000. Empowered Funds LLC acquired a new stake in shares of Ziff Davis in the third quarter valued at $7,210,000. Finally, Rice Hall James & Associates LLC raised its holdings in shares of Ziff Davis by 11.0% in the third quarter. Rice Hall James & Associates LLC now owns 501,313 shares of the technology company’s stock valued at $24,394,000 after buying an additional 49,510 shares during the last quarter. Institutional investors and hedge funds own 99.76% of the company’s stock.

Ziff Davis Trading Down 1.1 %

Shares of ZD opened at $47.50 on Wednesday. The stock’s fifty day simple moving average is $53.54 and its 200-day simple moving average is $51.40. The firm has a market capitalization of $2.03 billion, a PE ratio of 40.25 and a beta of 1.36. Ziff Davis, Inc. has a 12-month low of $37.76 and a 12-month high of $70.02. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.49.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Barclays increased their price objective on shares of Ziff Davis from $44.00 to $61.00 and gave the stock an “equal weight” rating in a report on Monday, November 11th. UBS Group reduced their target price on shares of Ziff Davis from $76.00 to $65.00 and set a “neutral” rating on the stock in a research report on Tuesday, December 3rd. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $68.00.

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.