LSV Asset Management Has $20.65 Million Stake in J2 Global Inc (JCOM)
LSV Asset Management lifted its stake in shares of J2 Global Inc (NASDAQ:JCOM) by 26.7% in the first quarter, Holdings Channel reports. The fund owned 238,500 shares of the technology company’s stock after acquiring an additional 50,200 shares during the quarter. LSV Asset Management’s holdings in J2 Global were worth $20,654,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc raised its position in J2 Global by 1.8% during the third quarter. Vanguard Group Inc now owns 4,341,776 shares of the technology company’s stock worth $359,716,000 after acquiring an additional 78,738 shares during the last quarter. BB&T Corp raised its position in J2 Global by 3.4% during the fourth quarter. BB&T Corp now owns 26,205 shares of the technology company’s stock worth $1,818,000 after acquiring an additional 850 shares during the last quarter. Fisher Asset Management LLC raised its position in J2 Global by 85.8% during the fourth quarter. Fisher Asset Management LLC now owns 192,387 shares of the technology company’s stock worth $13,348,000 after acquiring an additional 88,834 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of J2 Global by 5.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,139 shares of the technology company’s stock valued at $565,000 after buying an additional 395 shares during the last quarter. Finally, Quantamental Technologies LLC acquired a new position in shares of J2 Global in the fourth quarter valued at approximately $214,000. Institutional investors own 99.90% of the company’s stock.
In related news, insider R Scott Turicchi sold 5,626 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $86.98, for a total value of $489,349.48. Following the completion of the sale, the insider now directly owns 291,489 shares in the company, valued at $25,353,713.22. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Steve P. Dunn sold 3,263 shares of the business’s stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $87.00, for a total transaction of $283,881.00. Following the completion of the sale, the insider now owns 19,544 shares of the company’s stock, valued at $1,700,328. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 60,500 shares of company stock valued at $5,188,456. 5.90% of the stock is owned by insiders.
NASDAQ:JCOM opened at $84.73 on Friday. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.01. The company has a market capitalization of $4.27 billion, a PE ratio of 14.31, a PEG ratio of 1.64 and a beta of 0.88. J2 Global Inc has a 1-year low of $65.07 and a 1-year high of $91.58.
J2 Global (NASDAQ:JCOM) last posted its quarterly earnings data on Tuesday, May 7th. The technology company reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.19 by $0.14. J2 Global had a net margin of 11.60% and a return on equity of 28.93%. The business had revenue of $299.90 million during the quarter, compared to analyst estimates of $296.12 million. During the same quarter in the previous year, the business posted $1.22 earnings per share. The company’s revenue was up 6.9% on a year-over-year basis. Research analysts anticipate that J2 Global Inc will post 6.65 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 4th. Investors of record on Monday, May 20th will be issued a $0.455 dividend. This represents a $1.82 dividend on an annualized basis and a yield of 2.15%. This is an increase from J2 Global’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Friday, May 17th. J2 Global’s payout ratio is presently 30.74%.
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J2 Global Company Profile
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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