Wasatch Advisors Inc. Cuts Holdings in Zagg Inc (NASDAQ:ZAGG)

Wasatch Advisors Inc. reduced its position in shares of Zagg Inc (NASDAQ:ZAGG) by 42.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 759,055 shares of the specialty retailer’s stock after selling 559,524 shares during the quarter. Wasatch Advisors Inc. owned 2.71% of Zagg worth $14,005,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Alliancebernstein L.P. acquired a new stake in Zagg during the second quarter worth about $169,000. Martingale Asset Management L P acquired a new stake in Zagg during the 2nd quarter worth approximately $213,000. Teachers Advisors LLC boosted its position in Zagg by 5.0% during the 2nd quarter. Teachers Advisors LLC now owns 50,494 shares of the specialty retailer’s stock worth $437,000 after buying an additional 2,401 shares during the period. TIAA CREF Investment Management LLC boosted its position in Zagg by 2.5% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 93,133 shares of the specialty retailer’s stock worth $806,000 after buying an additional 2,261 shares during the period. Finally, Penn Capital Management Co. Inc. boosted its position in Zagg by 1.1% during the 2nd quarter. Penn Capital Management Co. Inc. now owns 624,911 shares of the specialty retailer’s stock worth $5,405,000 after buying an additional 7,041 shares during the period. 81.38% of the stock is currently owned by institutional investors.

In related news, CEO Randall L. Hales sold 19,829 shares of the business’s stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $19.85, for a total value of $393,605.65. Following the sale, the chief executive officer now directly owns 713,380 shares in the company, valued at approximately $14,160,593. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 4.20% of the company’s stock.

Several research firms recently commented on ZAGG. ValuEngine upgraded shares of Zagg from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Zacks Investment Research lowered shares of Zagg from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 12th. BidaskClub lowered shares of Zagg from a “buy” rating to a “hold” rating in a research note on Tuesday, January 16th. B. Riley set a $20.00 price objective on shares of Zagg and gave the company a “buy” rating in a research note on Wednesday, January 17th. Finally, Craig Hallum set a $24.00 price target on shares of Zagg and gave the company a “buy” rating in a research report on Wednesday, January 3rd. Two analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Zagg currently has an average rating of “Buy” and a consensus target price of $18.83.

Shares of Zagg Inc (ZAGG) traded up $0.40 during trading hours on Friday, hitting $15.95. 479,443 shares of the company were exchanged, compared to its average volume of 687,744. The company has a quick ratio of 0.68, a current ratio of 1.12 and a debt-to-equity ratio of 0.07. The stock has a market cap of $436.41, a P/E ratio of 177.22, a P/E/G ratio of 2.36 and a beta of 0.88. Zagg Inc has a 52 week low of $5.90 and a 52 week high of $23.70.

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Zagg Company Profile

ZAGG Inc (ZAGG) designs, produces and distributes professional product solutions for mobile devices, including screen protection (glass and film), keyboards for tablet computers and mobile devices, keyboard cases, earbuds, mobile power solutions, cables, and cases under the ZAGG and InvisibleShield brands.

Institutional Ownership by Quarter for Zagg (NASDAQ:ZAGG)

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