Mackay Shields LLC Purchases New Stake in Zillow Group, Inc. (NASDAQ:Z)

Mackay Shields LLC acquired a new stake in shares of Zillow Group, Inc. (NASDAQ:Z) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 236,272 shares of the financial services provider’s stock, valued at approximately $17,496,000. Mackay Shields LLC owned about 0.10% of Zillow Group as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. FMR LLC lifted its holdings in Zillow Group by 179.5% during the third quarter. FMR LLC now owns 5,095,336 shares of the financial services provider’s stock valued at $325,337,000 after purchasing an additional 3,272,118 shares during the last quarter. Ninety One UK Ltd lifted its holdings in shares of Zillow Group by 3.2% in the fourth quarter. Ninety One UK Ltd now owns 3,617,761 shares of the financial services provider’s stock worth $267,895,000 after buying an additional 111,231 shares in the last quarter. Groupama Asset Managment bought a new position in shares of Zillow Group in the third quarter valued at approximately $83,005,000. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Zillow Group in the third quarter valued at approximately $38,310,000. Finally, Bridgewater Associates LP boosted its position in shares of Zillow Group by 428.2% in the third quarter. Bridgewater Associates LP now owns 523,772 shares of the financial services provider’s stock valued at $33,443,000 after acquiring an additional 424,615 shares during the period. 71.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Z has been the subject of a number of analyst reports. Needham & Company LLC restated a “hold” rating on shares of Zillow Group in a research report on Wednesday, February 12th. Baird R W upgraded shares of Zillow Group to a “hold” rating in a research report on Friday, January 31st. Wedbush reiterated an “outperform” rating and set a $100.00 target price on shares of Zillow Group in a research report on Wednesday, February 12th. Morgan Stanley lifted their target price on shares of Zillow Group from $60.00 to $75.00 and gave the company an “equal weight” rating in a research report on Monday, January 13th. Finally, KeyCorp upgraded shares of Zillow Group from a “hold” rating to a “strong-buy” rating in a research report on Sunday, February 2nd. Five analysts have rated the stock with a hold rating, four have issued a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, Zillow Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $82.00.

Insider Buying and Selling at Zillow Group

In other Zillow Group news, CAO Jennifer Rock sold 3,033 shares of the business’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $82.78, for a total transaction of $251,071.74. Following the transaction, the chief accounting officer now directly owns 57,166 shares of the company’s stock, valued at approximately $4,732,201.48. The trade was a 5.04 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Errol G. Samuelson sold 6,967 shares of the business’s stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $77.72, for a total transaction of $541,475.24. Following the sale, the insider now owns 127,467 shares in the company, valued at approximately $9,906,735.24. This trade represents a 5.18 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 55,838 shares of company stock valued at $4,617,389. 23.76% of the stock is currently owned by company insiders.

Zillow Group Stock Down 4.4 %

Shares of NASDAQ Z opened at $74.91 on Friday. Zillow Group, Inc. has a 52 week low of $38.45 and a 52 week high of $89.39. The firm’s fifty day moving average is $78.39 and its 200 day moving average is $69.74. The company has a market cap of $18.17 billion, a price-to-earnings ratio of -159.38, a PEG ratio of 9.24 and a beta of 2.03.

Zillow Group (NASDAQ:Z) last issued its earnings results on Tuesday, February 11th. The financial services provider reported ($0.22) EPS for the quarter, missing the consensus estimate of $0.26 by ($0.48). Zillow Group had a negative return on equity of 2.12% and a negative net margin of 5.01%. Equities research analysts anticipate that Zillow Group, Inc. will post 0.32 earnings per share for the current year.

Zillow Group Company Profile

Zillow Group, Inc operates real estate brands in mobile applications and Websites in the United States. The company offers premier agent and rentals marketplaces, new construction marketplaces, advertising, display advertising, and business technology solutions, as well as dotloop and floor plans. It also provides mortgage originations and the sale of mortgages, and advertising to mortgage lenders and other mortgage professionals; and title and escrow services.