Alps Advisors Inc. lowered its position in j2 Global Inc. (NASDAQ:JCOM) by 6.8% during the second quarter, Holdings Channel reports. The fund owned 6,907 shares of the company’s stock after selling 504 shares during the period. Alps Advisors Inc.’s holdings in j2 Global were worth $436,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. AXA purchased a new position in j2 Global during the first quarter worth approximately $6,811,000. Lazard Asset Management LLC raised its position in j2 Global by 0.5% in the first quarter. Lazard Asset Management LLC now owns 378,247 shares of the company’s stock worth $23,292,000 after buying an additional 1,705 shares in the last quarter. State Street Corp raised its position in j2 Global by 1.6% in the first quarter. State Street Corp now owns 1,541,166 shares of the company’s stock worth $94,903,000 after buying an additional 24,835 shares in the last quarter. Menta Capital LLC purchased a new position in j2 Global during the first quarter worth approximately $462,000. Finally, Royce & Associates LP raised its position in j2 Global by 43.3% in the first quarter. Royce & Associates LP now owns 316,999 shares of the company’s stock worth $19,521,000 after buying an additional 95,790 shares in the last quarter.
Shares of j2 Global Inc. (NASDAQ:JCOM) traded up 0.29% during midday trading on Thursday, hitting $66.05. 468,035 shares of the company’s stock were exchanged. j2 Global Inc. has a 52 week low of $55.43 and a 52 week high of $84.15. The company has a 50-day moving average of $67.31 and a 200-day moving average of $65.18. The firm has a market cap of $3.17 billion, a price-to-earnings ratio of 23.77 and a beta of 1.11.
j2 Global (NASDAQ:JCOM) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported $1.21 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.15 by $0.06. j2 Global had a net margin of 17.16% and a return on equity of 24.28%. The business had revenue of $211.80 million for the quarter, compared to analyst estimates of $206.41 million. During the same period in the prior year, the business posted $0.99 earnings per share. j2 Global’s revenue was up 20.3% compared to the same quarter last year. Equities research analysts expect that j2 Global Inc. will post $4.90 EPS for the current fiscal year.
A number of research firms recently commented on JCOM. Robert W. Baird began coverage on shares of j2 Global in a research note on Tuesday, August 30th. They issued an “outperform” rating and a $83.00 price objective for the company. Citigroup Inc. reaffirmed a “buy” rating and issued a $73.00 price objective on shares of j2 Global in a research note on Wednesday, August 17th. Finally, Zacks Investment Research raised shares of j2 Global from a “hold” rating to a “buy” rating and set a $78.00 price objective for the company in a research note on Friday, August 5th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $85.17.
In related news, Director W Brian Kretzmer sold 6,600 shares of the stock in a transaction that occurred on Tuesday, August 30th. The shares were sold at an average price of $67.95, for a total value of $448,470.00. Following the transaction, the director now directly owns 14,897 shares in the company, valued at $1,012,251.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Stephen Ross sold 19,836 shares of the stock in a transaction that occurred on Tuesday, September 13th. The shares were sold at an average price of $67.84, for a total transaction of $1,345,674.24. Following the completion of the transaction, the director now owns 28,107 shares in the company, valued at $1,906,778.88. The disclosure for this sale can be found here. 5.11% of the stock is currently owned by corporate insiders.
About j2 Global
j2 Global, Inc is a provider of services delivered through the Internet. The Company provides cloud services to businesses of all sizes, from individuals to enterprises. The Company operates in two segments: Business Cloud Services and Digital Media. The Company’s Digital Media business segment consists of the Web properties and business operations of Ziff Davis, Inc (Ziff Davis).
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