A number of other equities research analysts also recently issued reports on JCOM. BidaskClub upgraded J2 Global from a hold rating to a buy rating in a research report on Friday, March 9th. DA Davidson began coverage on J2 Global in a research report on Friday, February 2nd. They issued a buy rating and a $95.00 price objective on the stock. ValuEngine downgraded J2 Global from a buy rating to a hold rating in a research report on Thursday, March 1st. Robert W. Baird increased their price objective on J2 Global from $94.00 to $95.00 and gave the stock an outperform rating in a research report on Wednesday, February 7th. Finally, Zacks Investment Research downgraded J2 Global from a hold rating to a strong sell rating in a research report on Monday, February 12th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the stock. The stock has an average rating of Buy and a consensus price target of $99.50.
NASDAQ:JCOM opened at $78.92 on Tuesday. The company has a current ratio of 2.34, a quick ratio of 2.34 and a debt-to-equity ratio of 0.98. J2 Global has a 1 year low of $70.27 and a 1 year high of $91.48. The firm has a market cap of $3,873.85, a price-to-earnings ratio of 14.75, a P/E/G ratio of 1.78 and a beta of 0.94.
The company also recently announced a quarterly dividend, which was paid on Friday, March 9th. Investors of record on Thursday, February 22nd were paid a $0.405 dividend. This represents a $1.62 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date was Wednesday, February 21st. This is a boost from J2 Global’s previous quarterly dividend of $0.40. J2 Global’s dividend payout ratio is currently 29.94%.
In related news, insider R Scott Turicchi sold 20,663 shares of the stock in a transaction on Monday, March 12th. The stock was sold at an average price of $84.65, for a total value of $1,749,122.95. Following the transaction, the insider now owns 246,395 shares of the company’s stock, valued at $20,857,336.75. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Vivek Shah sold 3,000 shares of the stock in a transaction on Thursday, March 15th. The shares were sold at an average price of $82.90, for a total value of $248,700.00. Following the completion of the transaction, the chief executive officer now directly owns 742,232 shares in the company, valued at approximately $61,531,032.80. The disclosure for this sale can be found here. In the last three months, insiders sold 29,663 shares of company stock worth $2,460,483. 5.15% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Xact Kapitalforvaltning AB bought a new position in J2 Global in the fourth quarter valued at $429,000. Sterling Capital Management LLC increased its stake in J2 Global by 16.8% in the fourth quarter. Sterling Capital Management LLC now owns 45,124 shares of the technology company’s stock valued at $3,386,000 after acquiring an additional 6,496 shares during the last quarter. MetLife Investment Advisors LLC bought a new position in J2 Global in the fourth quarter valued at $3,913,000. Glenmede Trust Co. NA increased its stake in J2 Global by 30.0% in the fourth quarter. Glenmede Trust Co. NA now owns 696,435 shares of the technology company’s stock valued at $52,251,000 after acquiring an additional 160,917 shares during the last quarter. Finally, Zeke Capital Advisors LLC bought a new position in J2 Global in the fourth quarter valued at $224,000.
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About J2 Global
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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