CCM Investment Advisers LLC bought a new position in J2 Global Inc (NASDAQ:JCOM) in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 63,797 shares of the technology company’s stock, valued at approximately $5,285,000.
Several other hedge funds have also recently modified their holdings of JCOM. Legal & General Group Plc lifted its holdings in shares of J2 Global by 13.3% in the 1st quarter. Legal & General Group Plc now owns 49,614 shares of the technology company’s stock worth $3,916,000 after buying an additional 5,823 shares during the period. Brown Advisory Inc. lifted its holdings in shares of J2 Global by 37.4% in the 1st quarter. Brown Advisory Inc. now owns 6,343 shares of the technology company’s stock worth $500,000 after buying an additional 1,728 shares during the period. Clinton Group Inc. purchased a new stake in shares of J2 Global in the 2nd quarter worth $984,000. Xact Kapitalforvaltning AB lifted its holdings in shares of J2 Global by 31.2% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 10,516 shares of the technology company’s stock worth $911,000 after buying an additional 2,500 shares during the period. Finally, World Asset Management Inc purchased a new stake in shares of J2 Global in the 2nd quarter worth $208,000. Institutional investors and hedge funds own 99.90% of the company’s stock.
Shares of NASDAQ JCOM opened at $74.87 on Wednesday. The company has a debt-to-equity ratio of 0.98, a current ratio of 2.17 and a quick ratio of 2.17. The firm has a market cap 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 1-year low of $69.09 and a 1-year high of $91.58.
J2 Global (NASDAQ:JCOM) last issued its quarterly earnings data on Monday, November 5th. The technology company reported $1.53 earnings per share for the quarter, topping analysts’ consensus estimates of $1.41 by $0.12. J2 Global had a return on equity of 26.39% and a net margin of 11.19%. As a group, equities analysts forecast that J2 Global Inc will post 5.79 EPS for the current fiscal year.
JCOM has been the subject of several research reports. BidaskClub cut J2 Global from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 14th. Robert W. Baird reiterated a “buy” rating and issued a $92.00 target price on shares of J2 Global in a report on Monday, August 13th. Citigroup lowered their target price on J2 Global from $88.00 to $86.00 and set a “neutral” rating for the company in a report on Monday, August 13th. ValuEngine cut J2 Global from a “hold” rating to a “sell” rating in a report on Friday, October 12th. Finally, Wedbush initiated coverage on J2 Global in a report on Thursday, October 18th. They issued an “outperform” rating and a $95.00 target price for the company. Two investment 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. J2 Global has a consensus rating of “Hold” and a consensus target price of $93.25.
In related news, insider Steve P. Dunn sold 1,052 shares of the company’s stock in a transaction on Wednesday, August 29th. The stock was sold at an average price of $83.90, for a total transaction of $88,262.80. Following the completion of the sale, the insider now directly owns 18,416 shares in the company, valued at approximately $1,545,102.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Vivek Shah sold 3,000 shares of the company’s stock in a transaction on Wednesday, August 15th. The stock was sold at an average price of $81.43, for a total value of $244,290.00. Following the sale, the chief executive officer now owns 723,830 shares of the company’s stock, valued at $58,941,476.90. The disclosure for this sale can be found here. Insiders have sold a total of 12,509 shares of company stock valued at $996,327 over the last 90 days. 5.97% of the stock is currently owned by company insiders.
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J2 Global 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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