Pearl River Capital LLC raised its holdings in J2 Global Inc (NASDAQ:JCOM) by 9,601.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,895 shares of the technology company’s stock after purchasing an additional 9,793 shares during the quarter. Pearl River Capital LLC’s holdings in J2 Global were worth $625,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also made changes to their positions in JCOM. Virtu Financial LLC purchased a new stake in shares of J2 Global during the 2nd quarter worth approximately $297,000. New York State Common Retirement Fund boosted its stake in shares of J2 Global by 1.3% during the 2nd quarter. New York State Common Retirement Fund now owns 55,350 shares of the technology company’s stock worth $3,499,000 after acquiring an additional 697 shares in the last quarter. Corbyn Investment Management Inc. MD boosted its stake in shares of J2 Global by 1.3% during the 2nd quarter. Corbyn Investment Management Inc. MD now owns 119,867 shares of the technology company’s stock worth $7,577,000 after acquiring an additional 1,575 shares in the last quarter. Truvestments Capital LLC boosted its stake in shares of J2 Global by 303.9% during the 2nd quarter. Truvestments Capital LLC now owns 1,644 shares of the technology company’s stock worth $103,000 after acquiring an additional 1,237 shares in the last quarter. Finally, Seizert Capital Partners LLC purchased a new stake in shares of J2 Global during the 2nd quarter worth approximately $1,402,000.
Shares of JCOM stock traded up $1.28 on Thursday, reaching $71.89. 20,219 shares of the stock were exchanged, compared to its average volume of 928,014. The stock has a market cap of $3.35 billion, a P/E ratio of 19.03, a price-to-earnings-growth ratio of 1.30 and a beta of 0.66. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.92. The firm has a 50 day moving average of $60.23 and a two-hundred day moving average of $74.86. J2 Global Inc has a 1-year low of $53.24 and a 1-year high of $104.57.
J2 Global (NASDAQ:JCOM) last released its quarterly earnings data on Monday, August 10th. The technology company reported $1.71 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.25. The business had revenue of $331.00 million during the quarter, compared to the consensus estimate of $315.79 million. J2 Global had a return on equity of 26.56% and a net margin of 13.13%. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.60 EPS. On average, equities research analysts predict that J2 Global Inc will post 6.74 EPS for the current fiscal year.
Several equities research analysts have recently commented on JCOM shares. Sidoti decreased their price target on J2 Global from $108.00 to $104.00 and set a “buy” rating on the stock in a research note on Tuesday, May 12th. BidaskClub raised J2 Global from a “sell” rating to a “hold” rating in a research note on Wednesday. Zacks Investment Research raised J2 Global from a “sell” rating to a “hold” rating and set a $74.00 target price on the stock in a research note on Monday. Citigroup raised J2 Global from a “neutral” rating to a “buy” rating and upped their target price for the company from $87.00 to $90.00 in a research note on Monday. Finally, Wedbush reduced their target price on J2 Global from $110.00 to $100.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 13th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have given a buy rating to the company’s stock. J2 Global presently has an average rating of “Buy” and an average target price of $99.50.
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.
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