Bank of Montreal Can grew its holdings in shares of J2 Global Inc (NASDAQ:JCOM) by 189.0% during the 3rd quarter, HoldingsChannel reports. The fund owned 34,005 shares of the technology company’s stock after acquiring an additional 22,238 shares during the quarter. Bank of Montreal Can’s holdings in J2 Global were worth $2,817,000 at the end of the most recent reporting period.
Other hedge funds have also bought and sold shares of the company. Public Employees Retirement System of Ohio increased its stake in shares of J2 Global by 6.7% in the second quarter. Public Employees Retirement System of Ohio now owns 55,627 shares of the technology company’s stock worth $4,818,000 after buying an additional 3,482 shares during the period. MetLife Investment Advisors LLC increased its stake in shares of J2 Global by 2.5% in the second quarter. MetLife Investment Advisors LLC now owns 52,164 shares of the technology company’s stock worth $4,518,000 after buying an additional 1,275 shares during the period. World Asset Management Inc purchased a new position in shares of J2 Global in the second quarter worth $208,000. Itau Unibanco Holding S.A. purchased a new position in shares of J2 Global in the second quarter worth $194,000. Finally, Martingale Asset Management L P increased its stake in shares of J2 Global by 1.7% in the second quarter. Martingale Asset Management L P now owns 70,415 shares of the technology company’s stock worth $6,099,000 after buying an additional 1,201 shares during the period. 99.90% of the stock is currently owned by hedge funds and other institutional investors.
In related news, insider Steve P. Dunn sold 1,052 shares of J2 Global stock in a transaction on Wednesday, August 29th. The shares were sold at an average price of $83.90, for a total value of $88,262.80. Following the sale, the insider now owns 18,416 shares in the company, valued at $1,545,102.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Vivek Shah sold 3,000 shares of the business’s stock in a transaction on Wednesday, August 15th. The shares were sold at an average price of $81.43, for a total transaction of $244,290.00. Following the sale, the chief executive officer now owns 723,830 shares in the company, valued at approximately $58,941,476.90. The disclosure for this sale can be found here. In the last quarter, insiders sold 12,509 shares of company stock worth $996,327. 5.97% of the stock is currently owned by company insiders.
Several research analysts recently commented on the stock. BidaskClub downgraded shares of J2 Global from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 14th. Robert W. Baird reaffirmed a “buy” rating and issued a $92.00 target price on shares of J2 Global in a research note on Monday, August 13th. ValuEngine downgraded shares of J2 Global from a “hold” rating to a “sell” rating in a research note on Tuesday. Wedbush reaffirmed a “buy” rating and issued a $95.00 target price on shares of J2 Global in a research note on Tuesday. Finally, Citigroup cut their price target on shares of J2 Global from $88.00 to $86.00 and set a “neutral” rating on the stock in a report on Monday, August 13th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $93.25.
NASDAQ:JCOM opened at $74.87 on Wednesday. The firm has a market capitalization of $3.53 billion, a P/E ratio of 13.84, a P/E/G ratio of 1.55 and a beta of 0.94. J2 Global Inc has a twelve month low of $69.09 and a twelve month high of $91.58. The company has a current ratio of 2.17, a quick ratio of 2.17 and a debt-to-equity ratio of 0.98.
J2 Global (NASDAQ:JCOM) last released its quarterly earnings results on Monday, November 5th. The technology company reported $1.53 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.12. J2 Global had a net margin of 11.19% and a return on equity of 26.39%. As a group, analysts predict that J2 Global Inc will post 5.79 earnings per share for the current fiscal year.
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About J2 Global
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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