Wedge Capital Management L L P NC lifted its stake in shares of Zagg Inc (NASDAQ:ZAGG) by 26.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 35,683 shares of the specialty retailer’s stock after buying an additional 7,498 shares during the period. Wedge Capital Management L L P NC owned approximately 0.13% of Zagg worth $526,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of ZAGG. Capital Fund Management S.A. acquired a new position in Zagg during the second quarter valued at $386,000. Globeflex Capital L P lifted its position in Zagg by 123.2% during the second quarter. Globeflex Capital L P now owns 79,000 shares of the specialty retailer’s stock valued at $1,367,000 after purchasing an additional 43,600 shares during the period. Bowling Portfolio Management LLC acquired a new position in Zagg during the third quarter valued at $1,077,000. BlackRock Inc. lifted its position in Zagg by 0.7% during the first quarter. BlackRock Inc. now owns 1,825,475 shares of the specialty retailer’s stock valued at $22,270,000 after purchasing an additional 13,177 shares during the period. Finally, Strategic Wealth Advisors Group LLC acquired a new position in Zagg during the second quarter valued at $760,000. Institutional investors and hedge funds own 84.53% of the company’s stock.
In other Zagg news, President Brian Stech sold 10,000 shares of Zagg stock in a transaction on Monday, October 1st. The shares were sold at an average price of $14.67, for a total value of $146,700.00. Following the completion of the transaction, the president now owns 198,864 shares of the company’s stock, valued at $2,917,334.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 5.80% of the stock is currently owned by insiders.
Zagg (NASDAQ:ZAGG) last posted its earnings results on Tuesday, November 6th. The specialty retailer reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.09. Zagg had a net margin of 6.00% and a return on equity of 33.12%. The company had revenue of $141.10 million during the quarter, compared to the consensus estimate of $149.13 million. During the same period in the previous year, the firm posted $0.34 earnings per share. The firm’s quarterly revenue was up 5.0% on a year-over-year basis. On average, equities analysts predict that Zagg Inc will post 1.35 EPS for the current fiscal year.
A number of research firms recently issued reports on ZAGG. BidaskClub downgraded shares of Zagg from a “sell” rating to a “strong sell” rating in a research report on Saturday. B. Riley decreased their target price on shares of Zagg from $17.00 to $15.00 and set a “neutral” rating for the company in a research report on Wednesday. Finally, ValuEngine downgraded shares of Zagg from a “buy” rating to a “hold” rating in a research report on Wednesday, July 25th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $19.50.
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ZAGG Inc, together with its subsidiaries, designs, manufactures, and distributes mobile tech accessories for smartphones and tablets in the United States, Europe, and internationally. It operates in ZAGG and mophie segments. The company offers screen protection products; battery cases and power management products for tablets, smartphones, MP3 players, cameras, and other electronic mobile devices; device specific keyboards and device agnostic keyboards; and earbuds, headphones, wireless charging products, Bluetooth speakers, and cables under the ZAGG, InvisibleShield, IFROGZ, and mophie brands.
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