JPMorgan Chase & Co. decreased its stake in shares of Zagg Inc (NASDAQ:ZAGG) by 55.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 18,285 shares of the specialty retailer’s stock after selling 22,663 shares during the period. JPMorgan Chase & Co. owned approximately 0.06% of Zagg worth $223,000 as of its most recent SEC filing.
Other institutional investors also recently added to or reduced their stakes in the company. US Bancorp DE acquired a new position in Zagg during the 1st quarter valued at about $156,000. Financial Gravity Wealth Inc. acquired a new position in Zagg during the 1st quarter valued at about $150,000. MetLife Investment Advisors LLC acquired a new position in Zagg during the 4th quarter valued at about $260,000. Morgan Dempsey Capital Management LLC acquired a new position in Zagg during the 1st quarter valued at about $321,000. Finally, Wedge Capital Management L L P NC increased its stake in Zagg by 27.6% during the 1st quarter. Wedge Capital Management L L P NC now owns 39,709 shares of the specialty retailer’s stock valued at $484,000 after buying an additional 8,584 shares during the period. 86.55% of the stock is currently owned by hedge funds and other institutional investors.
In other news, President Brian Stech sold 20,000 shares of the company’s stock in a transaction dated Wednesday, May 23rd. The stock was sold at an average price of $15.30, for a total value of $306,000.00. Following the completion of the transaction, the president now directly owns 235,435 shares in the company, valued at approximately $3,602,155.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 5.80% of the stock is owned by corporate insiders.
Zagg (NASDAQ:ZAGG) last released its quarterly earnings data on Tuesday, July 31st. The specialty retailer reported $0.11 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.17 by ($0.06). Zagg had a net margin of 5.18% and a return on equity of 30.17%. The firm had revenue of $118.57 million for the quarter, compared to the consensus estimate of $116.44 million. research analysts anticipate that Zagg Inc will post 1.39 EPS for the current fiscal year.
ZAGG has been the topic of several research analyst reports. BidaskClub cut shares of Zagg from a “hold” rating to a “sell” rating in a research note on Friday, April 27th. LADENBURG THALM/SH SH reaffirmed a “buy” rating and issued a $24.00 price objective on shares of Zagg in a research note on Wednesday, May 9th. Zacks Investment Research upgraded shares of Zagg from a “hold” rating to a “buy” rating and set a $16.00 target price for the company in a report on Friday, May 11th. ValuEngine upgraded shares of Zagg from a “hold” rating to a “buy” rating in a report on Saturday, May 12th. Finally, B. Riley raised their price target on shares of Zagg from $16.00 to $17.00 and gave the stock a “hold” rating in a report on Wednesday, August 1st. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Zagg presently has an average rating of “Buy” and a consensus target price of $19.43.
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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