Zeta Global Holdings Corp. (NYSE:ZETA) Sees Significant Drop in Short Interest

Zeta Global Holdings Corp. (NYSE:ZETA) was the target of a large decrease in short interest in March. As of March 15th, there was short interest totalling 22,780,000 shares, a decrease of 15.3% from the February 28th total of 26,890,000 shares. Based on an average trading volume of 6,200,000 shares, the days-to-cover ratio is currently 3.7 days. Currently, 12.4% of the company’s shares are short sold.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in ZETA. JPMorgan Chase & Co. boosted its position in Zeta Global by 31.0% during the third quarter. JPMorgan Chase & Co. now owns 1,240,872 shares of the company’s stock worth $37,015,000 after purchasing an additional 293,583 shares during the period. Hodges Capital Management Inc. lifted its stake in shares of Zeta Global by 163.1% in the fourth quarter. Hodges Capital Management Inc. now owns 433,473 shares of the company’s stock worth $7,798,000 after buying an additional 268,710 shares during the last quarter. Barclays PLC boosted its holdings in shares of Zeta Global by 36.4% during the 3rd quarter. Barclays PLC now owns 420,518 shares of the company’s stock worth $12,544,000 after buying an additional 112,238 shares during the period. Nordea Investment Management AB acquired a new position in Zeta Global in the 4th quarter valued at $2,444,000. Finally, State Street Corp raised its holdings in Zeta Global by 12.2% in the 3rd quarter. State Street Corp now owns 4,187,052 shares of the company’s stock worth $124,900,000 after acquiring an additional 455,944 shares during the period. Institutional investors and hedge funds own 87.75% of the company’s stock.

Zeta Global Stock Up 2.3 %

NYSE:ZETA traded up $0.32 during trading hours on Wednesday, reaching $14.35. The company’s stock had a trading volume of 2,382,322 shares, compared to its average volume of 4,999,162. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.32 and a quick ratio of 3.32. The company has a market cap of $3.41 billion, a price-to-earnings ratio of -20.50, a price-to-earnings-growth ratio of 1.65 and a beta of 1.18. Zeta Global has a one year low of $10.30 and a one year high of $38.20. The business’s 50-day moving average is $17.81 and its 200-day moving average is $22.10.

Analysts Set New Price Targets

Several research firms have weighed in on ZETA. William Blair reiterated an “outperform” rating on shares of Zeta Global in a research report on Wednesday, February 26th. Barclays lowered their price target on Zeta Global from $32.00 to $18.00 and set an “equal weight” rating on the stock in a report on Thursday, February 27th. The Goldman Sachs Group decreased their price objective on Zeta Global from $30.00 to $27.00 and set a “neutral” rating for the company in a research report on Tuesday, March 4th. Needham & Company LLC reiterated a “buy” rating and issued a $43.00 target price on shares of Zeta Global in a report on Wednesday, February 26th. Finally, Morgan Stanley raised their price target on shares of Zeta Global from $23.00 to $25.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 26th. Four equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Zeta Global has an average rating of “Moderate Buy” and an average target price of $36.86.

Zeta Global Company Profile

Zeta Global Holdings Corp. operates an omnichannel data-driven cloud platform that provides enterprises with consumer intelligence and marketing automation software in the United States and internationally. The company’s Zeta Marketing Platform analyzes billions of structured and unstructured data points to predict consumer intent by leveraging sophisticated machine learning algorithms and the industry’s opted-in data set for omnichannel marketing; and Consumer Data platform ingests, analyzes, and distills disparate data points to generate a single view of a consumer, encompassing identity, profile characteristics, behaviors, and purchase intent.