Ziff Davis (NASDAQ:ZD) Shares Down 5.1% Following Analyst Downgrade

Ziff Davis, Inc. (NASDAQ:ZD)’s stock price traded down 5.1% during trading on Wednesday after JPMorgan Chase & Co. lowered their price target on the stock from $70.00 to $60.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Ziff Davis traded as low as $45.15 and last traded at $45.09. 72,486 shares were traded during trading, a decline of 78% from the average session volume of 322,511 shares. The stock had previously closed at $47.50.

Other analysts have also recently issued research reports about the stock. Barclays upped their target price on shares of Ziff Davis from $44.00 to $61.00 and gave the company an “equal weight” rating in a research note on Monday, November 11th. UBS Group decreased their price target on Ziff Davis from $76.00 to $65.00 and set a “neutral” rating on the stock in a research note on Tuesday, December 3rd. Finally, Citigroup cut their price objective on Ziff Davis from $58.00 to $52.00 and set a “neutral” rating for the company in a report on Wednesday. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $67.17.

Hedge Funds Weigh In On Ziff Davis

Institutional investors have recently modified their holdings of the stock. Janus Henderson Group PLC lifted its holdings in shares of Ziff Davis by 8.5% during the 4th quarter. Janus Henderson Group PLC now owns 3,487,495 shares of the technology company’s stock valued at $189,512,000 after purchasing an additional 272,895 shares in the last quarter. Legal & General Group Plc raised its holdings in Ziff Davis by 12.4% during the 4th quarter. Legal & General Group Plc now owns 2,425,947 shares of the technology company’s stock worth $131,826,000 after buying an additional 267,436 shares during the period. Dimensional Fund Advisors LP lifted its stake in Ziff Davis by 5.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,412,780 shares of the technology company’s stock valued at $131,112,000 after buying an additional 118,979 shares in the last quarter. CDAM UK Ltd lifted its stake in Ziff Davis by 16.6% in the fourth quarter. CDAM UK Ltd now owns 1,492,860 shares of the technology company’s stock valued at $81,122,000 after buying an additional 213,071 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Ziff Davis by 3.0% in the third quarter. Geode Capital Management LLC now owns 1,274,762 shares of the technology company’s stock valued at $62,040,000 after buying an additional 36,863 shares during the period. 99.76% of the stock is currently owned by institutional investors and hedge funds.

Ziff Davis Price Performance

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 company’s 50-day moving average price is $53.54 and its 200-day moving average price is $51.40. The company has a market cap of $1.89 billion, a P/E ratio of 37.58 and a beta of 1.36.

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.