SG Americas Securities LLC cut its stake in J2 Global (NASDAQ:JCOM) by 33.8% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 12,918 shares of the technology company’s stock after selling 6,583 shares during the period. SG Americas Securities LLC’s holdings in J2 Global were worth $1,019,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of J2 Global by 47.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,588 shares of the technology company’s stock worth $194,000 after acquiring an additional 831 shares during the last quarter. Oppenheimer & Co. Inc. acquired a new stake in shares of J2 Global in the fourth quarter worth approximately $210,000. Wolverine Asset Management LLC acquired a new stake in shares of J2 Global in the fourth quarter worth approximately $222,000. Zeke Capital Advisors LLC acquired a new stake in shares of J2 Global in the fourth quarter worth approximately $224,000. Finally, Ramsey Quantitative Systems purchased a new position in J2 Global in the fourth quarter valued at approximately $245,000. 98.95% of the stock is currently owned by institutional investors and hedge funds.
Several research analysts recently commented on the stock. DA Davidson raised their price target on shares of J2 Global to $100.00 and gave the company a “buy” rating in a report on Wednesday, May 9th. BidaskClub lowered shares of J2 Global from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 17th. Zacks Investment Research upgraded shares of J2 Global from a “sell” rating to a “hold” rating in a report on Wednesday, April 11th. William Blair restated an “outperform” rating on shares of J2 Global in a report on Tuesday, March 27th. Finally, Robert W. Baird raised their price target on shares of J2 Global from $94.00 to $95.00 and gave the company an “outperform” rating in a report on Wednesday, February 7th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $94.33.
In other news, Director W Brian Kretzmer sold 5,942 shares of J2 Global stock in a transaction that occurred on Wednesday, May 9th. The shares were sold at an average price of $87.25, for a total transaction of $518,439.50. Following the sale, the director now owns 6,764 shares in the company, valued at $590,159. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider R Scott Turicchi sold 20,663 shares of J2 Global stock in a transaction that occurred on Monday, March 12th. The shares were sold at an average price of $84.65, for a total transaction of $1,749,122.95. Following the sale, the insider now owns 246,395 shares in the company, valued at approximately $20,857,336.75. The disclosure for this sale can be found here. Insiders have sold 62,220 shares of company stock worth $5,176,829 in the last quarter. Insiders own 5.15% of the company’s stock.
NASDAQ JCOM opened at $86.50 on Friday. J2 Global has a one year low of $70.27 and a one year high of $90.90. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.22 and a current ratio of 2.22. The company has a market capitalization of $4.26 billion, a P/E ratio of 16.27, a price-to-earnings-growth ratio of 1.94 and a beta of 0.84.
J2 Global (NASDAQ:JCOM) last posted its quarterly earnings results on Monday, May 7th. The technology company reported $1.22 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.20 by $0.02. J2 Global had a net margin of 11.58% and a return on equity of 26.09%. The firm had revenue of $280.62 million for the quarter, compared to analyst estimates of $274.66 million. During the same quarter last year, the firm posted $0.41 earnings per share. equities research analysts predict that J2 Global will post 5.59 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 1st. Stockholders of record on Friday, May 18th will be paid a dividend of $0.415 per share. The ex-dividend date of this dividend is Thursday, May 17th. This represents a $1.66 dividend on an annualized basis and a dividend yield of 1.92%. This is a positive change from J2 Global’s previous quarterly dividend of $0.41. J2 Global’s dividend payout ratio (DPR) is currently 30.68%.
J2 Global Company Profile
j2 Global, Inc, together with its subsidiaries, engages in the provision of Internet services worldwide. It operates through two segments, Cloud Services and Digital Media. The Cloud Services segment offers cloud services to sole proprietors, small to medium-sized businesses and enterprises, and government organizations.
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