J2 Global Inc (NASDAQ:JCOM) Short Interest Down 5.8% in September

J2 Global Inc (NASDAQ:JCOM) was the target of a significant drop in short interest in September. As of September 30th, there was short interest totalling 4,910,000 shares, a drop of 5.8% from the August 30th total of 5,210,000 shares. Approximately 10.6% of the shares of the stock are short sold. Based on an average trading volume of 336,200 shares, the days-to-cover ratio is presently 14.6 days.

A number of equities analysts recently commented on JCOM shares. Zacks Investment Research upgraded J2 Global from a “hold” rating to a “buy” rating and set a $99.00 price objective on the stock in a research report on Friday, October 11th. BidaskClub upgraded J2 Global from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 12th. JMP Securities reiterated a “market outperform” rating and set a $105.00 price objective (up previously from $100.00) on shares of J2 Global in a research report on Thursday, October 3rd. ValuEngine downgraded J2 Global from a “hold” rating to a “sell” rating in a research report on Wednesday, October 2nd. Finally, Sidoti lifted their price objective on J2 Global from $110.00 to $116.00 and gave the stock a “buy” rating in a research report on Friday, September 6th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. J2 Global currently has a consensus rating of “Buy” and an average price target of $105.00.

JCOM stock traded up $0.66 during midday trading on Thursday, hitting $96.12. 19,379 shares of the company’s stock were exchanged, compared to its average volume of 368,595. The business has a 50-day simple moving average of $89.72 and a two-hundred day simple moving average of $87.49. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.09. The stock has a market capitalization of $4.69 billion, a PE ratio of 16.08 and a beta of 0.80. J2 Global has a 1-year low of $65.07 and a 1-year high of $96.53.

J2 Global (NASDAQ:JCOM) last posted its earnings results on Tuesday, August 6th. The technology company reported $1.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.42 by $0.05. The company had revenue of $322.43 million during the quarter, compared to analysts’ expectations of $320.25 million. J2 Global had a return on equity of 28.85% and a net margin of 11.61%. The firm’s quarterly revenue was up 12.0% compared to the same quarter last year. During the same quarter last year, the firm earned $1.50 earnings per share. As a group, research analysts expect that J2 Global will post 6.63 EPS for the current fiscal year.

In related news, Director W Brian Kretzmer sold 1,800 shares of J2 Global stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $87.03, for a total transaction of $156,654.00. Following the transaction, the director now owns 7,256 shares in the company, valued at $631,489.68. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Jeremy Rossen sold 2,617 shares of J2 Global stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $83.50, for a total value of $218,519.50. Following the transaction, the vice president now owns 32,440 shares in the company, valued at approximately $2,708,740. The disclosure for this sale can be found here. Company insiders own 5.90% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the business. AQR Capital Management LLC grew its stake in shares of J2 Global by 5.6% in the second quarter. AQR Capital Management LLC now owns 920,423 shares of the technology company’s stock valued at $80,647,000 after buying an additional 48,701 shares in the last quarter. Janus Henderson Group PLC grew its stake in shares of J2 Global by 7.2% in the second quarter. Janus Henderson Group PLC now owns 755,820 shares of the technology company’s stock valued at $67,185,000 after buying an additional 50,470 shares in the last quarter. Prudential Financial Inc. grew its stake in shares of J2 Global by 13.0% in the second quarter. Prudential Financial Inc. now owns 582,664 shares of the technology company’s stock valued at $51,793,000 after buying an additional 66,999 shares in the last quarter. Nuveen Asset Management LLC grew its stake in shares of J2 Global by 8,400.2% in the second quarter. Nuveen Asset Management LLC now owns 458,928 shares of the technology company’s stock valued at $40,794,000 after buying an additional 453,529 shares in the last quarter. Finally, Rothschild & Co. Asset Management US Inc. grew its stake in shares of J2 Global by 4.0% in the second quarter. Rothschild & Co. Asset Management US Inc. now owns 456,702 shares of the technology company’s stock valued at $40,596,000 after buying an additional 17,374 shares in the last quarter.

About J2 Global

j2 Global, Inc, together with its subsidiaries, provides Internet services worldwide. It operates through three segments: Fax and Email Marketing; Voice, Backup, and Security; and Digital Media. The company offers cloud services to sole proprietors, small to medium-sized businesses and enterprises, and government organizations.

Featured Story: Trading Strategy

Receive News & Ratings for J2 Global Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for J2 Global and related companies with MarketBeat.com's FREE daily email newsletter.