Ziff Davis (NASDAQ:ZD) Stock Price Down 5.1% After Analyst Downgrade

Ziff Davis, Inc. (NASDAQ:ZD)’s share price dropped 5.1% during mid-day trading on Wednesday after UBS Group lowered their price target on the stock from $65.00 to $56.00. UBS Group currently has a neutral rating on the stock. Ziff Davis traded as low as $45.15 and last traded at $45.09. Approximately 72,486 shares changed hands during trading, a decline of 78% from the average daily volume of 322,511 shares. The stock had previously closed at $47.50.

A number of other brokerages have also recently issued reports on ZD. Citigroup dropped their price objective on Ziff Davis from $58.00 to $52.00 and set a “neutral” rating on the stock in a research note on Wednesday. Barclays increased their price target on Ziff Davis from $44.00 to $61.00 and gave the company an “equal weight” rating in a research note on Monday, November 11th. Finally, JPMorgan Chase & Co. dropped their price target on Ziff Davis from $70.00 to $60.00 and set an “overweight” rating on the stock in a research note on Wednesday. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, Ziff Davis presently has an average rating of “Moderate Buy” and an average target price of $65.67.

Institutional Trading of Ziff Davis

Several institutional investors and hedge funds have recently modified their holdings of ZD. Millstone Evans Group LLC bought a new position in Ziff Davis in the fourth quarter valued at about $35,000. Quadrant Capital Group LLC raised its position in Ziff Davis by 278.9% in the fourth quarter. Quadrant Capital Group LLC now owns 663 shares of the technology company’s stock valued at $36,000 after purchasing an additional 488 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in Ziff Davis in the third quarter valued at about $37,000. Summit Securities Group LLC bought a new position in Ziff Davis in the fourth quarter valued at about $37,000. Finally, First Horizon Advisors Inc. raised its position in Ziff Davis by 42.9% in the fourth quarter. First Horizon Advisors Inc. now owns 866 shares of the technology company’s stock valued at $47,000 after purchasing an additional 260 shares during the last quarter. 99.76% of the stock is currently owned by institutional investors.

Ziff Davis Stock Down 9.5 %

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 stock has a market capitalization of $1.84 billion, a P/E ratio of 36.43 and a beta of 1.36. The firm has a 50-day simple moving average of $53.29 and a 200 day simple moving average of $51.34.

Ziff Davis Company Profile

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.