Zillow Group (ZG) Reaches New 1-Year Low After Analyst Downgrade

Zillow Group Inc (NASDAQ:ZG) shares hit a new 52-week low on Wednesday after ValuEngine downgraded the stock from a hold rating to a sell rating. The company traded as low as $30.17 and last traded at $30.83, with a volume of 194778 shares changing hands. The stock had previously closed at $40.75.

ZG has been the topic of a number of other reports. Zacks Investment Research downgraded Zillow Group from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 10th. Deutsche Bank cut their price objective on Zillow Group from $45.00 to $39.00 and set a “hold” rating on the stock in a research note on Monday. Canaccord Genuity set a $60.00 price objective on Zillow Group and gave the company a “buy” rating in a research note on Friday, September 7th. Craig Hallum set a $40.00 price objective on Zillow Group and gave the company a “hold” rating in a research note on Tuesday, October 9th. Finally, Jefferies Financial Group cut their price objective on Zillow Group from $52.00 to $37.00 and set a “hold” rating on the stock in a research note on Wednesday. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and six have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $43.65.

Hedge funds and other institutional investors have recently modified their holdings of the business. Schwab Charles Investment Management Inc. increased its position in Zillow Group by 5.1% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 161,861 shares of the technology company’s stock worth $9,672,000 after buying an additional 7,916 shares during the period. Bank of Montreal Can increased its position in shares of Zillow Group by 2.9% during the second quarter. Bank of Montreal Can now owns 33,865 shares of the technology company’s stock valued at $2,024,000 after purchasing an additional 970 shares during the period. Morgan Stanley increased its position in shares of Zillow Group by 982.4% during the second quarter. Morgan Stanley now owns 1,764,950 shares of the technology company’s stock valued at $105,457,000 after purchasing an additional 1,601,885 shares during the period. Renaissance Technologies LLC increased its position in shares of Zillow Group by 90.1% during the second quarter. Renaissance Technologies LLC now owns 199,800 shares of the technology company’s stock valued at $11,938,000 after purchasing an additional 94,700 shares during the period. Finally, Point72 Asset Management L.P. bought a new stake in shares of Zillow Group during the second quarter valued at approximately $896,000. 25.73% of the stock is currently owned by institutional investors.

The stock has a market cap of $8.24 billion, a PE ratio of 197.07 and a beta of 1.12. The company has a quick ratio of 8.13, a current ratio of 8.18 and a debt-to-equity ratio of 0.14.

Zillow Group (NASDAQ:ZG) last released its quarterly earnings data on Tuesday, November 6th. The technology company reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.04. The business had revenue of $343.09 million for the quarter, compared to analysts’ expectations of $343.73 million. Zillow Group had a positive return on equity of 0.06% and a negative net margin of 7.94%. Equities analysts forecast that Zillow Group Inc will post -0.14 EPS for the current fiscal year.

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About Zillow Group (NASDAQ:ZG)

Zillow Group, Inc operates real estate and home-related information marketplaces on mobile and the Web in the United States. The company offers a portfolio of brands and products to enable consumers find information about homes and connect with local professionals. Its brands focus on various stages of the home lifecycle, including renting, buying, selling, and financing.

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