Boston Advisors LLC lowered its stake in j2 Global Inc. (NASDAQ:JCOM) by 0.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 88,457 shares of the company’s stock after selling 280 shares during the period. Boston Advisors LLC’s holdings in j2 Global were worth $5,588,000 as of its most recent filing with the SEC.
Several other institutional investors also recently bought and sold shares of JCOM. Acrospire Investment Management LLC bought a new position in j2 Global during the first quarter valued at about $111,000. LS Investment Advisors LLC raised its position in j2 Global by 73.7% in the second quarter. LS Investment Advisors LLC now owns 2,799 shares of the company’s stock valued at $177,000 after buying an additional 1,188 shares during the last quarter. Mount Lucas Management LP raised its position in j2 Global by 10.7% in the first quarter. Mount Lucas Management LP now owns 3,747 shares of the company’s stock valued at $231,000 after buying an additional 363 shares during the last quarter. Fox Run Management L.L.C. bought a new position in j2 Global during the second quarter valued at about $253,000. Finally, Parametrica Management Ltd bought a new position in j2 Global during the second quarter valued at about $341,000.
Shares of j2 Global Inc. (NASDAQ:JCOM) traded up 0.99% during trading on Wednesday, hitting $67.46. The company had a trading volume of 153,719 shares. The stock has a market capitalization of $3.24 billion, a price-to-earnings ratio of 24.27 and a beta of 1.21. The stock has a 50-day moving average of $67.62 and a 200 day moving average of $64.93. j2 Global Inc. has a 12-month low of $55.43 and a 12-month high of $84.15.
j2 Global (NASDAQ:JCOM) last issued its earnings results on Wednesday, August 3rd. The company reported $1.21 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.15 by $0.06. The business earned $211.80 million during the quarter, compared to the consensus estimate of $206.41 million. j2 Global had a return on equity of 24.28% and a net margin of 17.16%. The firm’s revenue for the quarter was up 20.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.99 earnings per share. On average, analysts predict that j2 Global Inc. will post $4.90 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 1st. Shareholders of record on Wednesday, August 17th were issued a $0.345 dividend. This is an increase from j2 Global’s previous quarterly dividend of $0.34. This represents a $1.38 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date of this dividend was Monday, August 15th. j2 Global’s payout ratio is presently 49.46%.
Several equities analysts have recently issued reports on the company. Robert W. Baird assumed coverage on j2 Global in a research report on Tuesday, August 30th. They set an “outperform” rating and a $83.00 target price for the company. Citigroup Inc. restated a “buy” rating and set a $73.00 target price on shares of j2 Global in a research report on Wednesday, August 17th. Finally, Zacks Investment Research upgraded j2 Global from a “hold” rating to a “buy” rating and set a $78.00 target price for the company in a research report on Friday, August 5th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $85.17.
In other j2 Global news, Director Stephen Ross sold 19,836 shares of the firm’s stock in a transaction that occurred on Tuesday, September 13th. The stock was sold at an average price of $67.84, for a total value of $1,345,674.24. Following the completion of the sale, the director now owns 28,107 shares of the company’s stock, valued at $1,906,778.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Jeremy Rossen sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, August 5th. The shares were sold at an average price of $69.73, for a total value of $104,595.00. Following the completion of the sale, the vice president now directly owns 27,222 shares of the company’s stock, valued at approximately $1,898,190.06. The disclosure for this sale can be found here. 5.11% of the stock is owned by company insiders.
j2 Global Company Profile
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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