Pacific Ridge Capital Partners LLC decreased its holdings in Zagg Inc (NASDAQ:ZAGG) by 6.2% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 416,273 shares of the specialty retailer’s stock after selling 27,362 shares during the quarter. Zagg accounts for about 1.6% of Pacific Ridge Capital Partners LLC’s portfolio, making the stock its 13th largest holding. Pacific Ridge Capital Partners LLC owned approximately 1.50% of Zagg worth $6,140,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of the business. Bank of Montreal Can acquired a new stake in shares of Zagg in the 2nd quarter valued at about $242,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Zagg in the 2nd quarter valued at about $536,000. Bank of New York Mellon Corp boosted its position in shares of Zagg by 26.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 294,874 shares of the specialty retailer’s stock valued at $5,102,000 after purchasing an additional 62,518 shares during the period. Strs Ohio boosted its position in shares of Zagg by 15.4% in the 2nd quarter. Strs Ohio now owns 45,800 shares of the specialty retailer’s stock valued at $792,000 after purchasing an additional 6,100 shares during the period. Finally, Systematic Financial Management LP acquired a new stake in shares of Zagg in the 2nd quarter valued at about $1,867,000. Institutional investors and hedge funds own 84.88% of the company’s stock.
ZAGG traded up $0.06 on Friday, hitting $10.27. 627 shares of the company traded hands, compared to its average volume of 291,707. The company has a quick ratio of 1.13, a current ratio of 1.76 and a debt-to-equity ratio of 0.19. The company has a market cap of $287.10 million, a PE ratio of 10.60, a P/E/G ratio of 1.02 and a beta of 1.68. Zagg Inc has a 12-month low of $9.54 and a 12-month high of $21.10.
Zagg (NASDAQ:ZAGG) last posted its quarterly earnings data on Tuesday, November 6th. The specialty retailer reported $0.51 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.09. The firm had revenue of $141.10 million during the quarter, compared to the consensus estimate of $149.13 million. Zagg had a return on equity of 32.36% and a net margin of 6.00%. The firm’s revenue was up 5.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.34 EPS. As a group, sell-side analysts expect that Zagg Inc will post 1.36 EPS for the current fiscal year.
ZAGG has been the subject of a number of research analyst reports. BidaskClub raised Zagg from a “hold” rating to a “buy” rating in a research report on Saturday, August 25th. TheStreet cut Zagg from a “b-” rating to a “c+” rating in a research report on Monday, November 12th. B. Riley reduced their price objective on Zagg from $17.00 to $15.00 and set a “neutral” rating for the company in a research note on Wednesday, November 7th. Finally, ValuEngine downgraded Zagg from a “hold” rating to a “sell” rating in a research note on Monday, September 24th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $18.80.
In other Zagg news, President Brian Stech sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, October 1st. The stock was sold at an average price of $14.67, for a total transaction of $146,700.00. Following the completion of the sale, the president now directly owns 198,864 shares of the company’s stock, valued at approximately $2,917,334.88. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 5.80% of the stock is owned by corporate insiders.
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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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