Municipal Employees Retirement System of Michigan Buys New Stake in J2 Global Inc (JCOM)

Municipal Employees Retirement System of Michigan bought a new stake in J2 Global Inc (NASDAQ:JCOM) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 11,240 shares of the technology company’s stock, valued at approximately $780,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of JCOM. SG Americas Securities LLC increased its position in shares of J2 Global by 11.2% during the third quarter. SG Americas Securities LLC now owns 17,092 shares of the technology company’s stock worth $1,416,000 after acquiring an additional 1,719 shares during the last quarter. Swiss National Bank grew its holdings in shares of J2 Global by 1.8% during the 3rd quarter. Swiss National Bank now owns 85,631 shares of the technology company’s stock valued at $7,095,000 after acquiring an additional 1,500 shares in the last quarter. AXA grew its holdings in shares of J2 Global by 46.3% during the 3rd quarter. AXA now owns 29,400 shares of the technology company’s stock valued at $2,436,000 after acquiring an additional 9,300 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of J2 Global by 5.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 836,538 shares of the technology company’s stock valued at $69,308,000 after acquiring an additional 46,648 shares in the last quarter. Finally, Martingale Asset Management L P grew its holdings in shares of J2 Global by 7.7% during the 3rd quarter. Martingale Asset Management L P now owns 75,835 shares of the technology company’s stock valued at $6,283,000 after acquiring an additional 5,420 shares in the last quarter. 99.90% of the stock is currently owned by institutional investors and hedge funds.

In other news, Director Douglas Y. Bech sold 4,307 shares of the stock in a transaction that occurred on Thursday, February 21st. The shares were sold at an average price of $85.12, for a total transaction of $366,611.84. Following the sale, the director now directly owns 123,081 shares of the company’s stock, valued at $10,476,654.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Douglas Y. Bech sold 10,000 shares of the stock in a transaction that occurred on Friday, February 15th. The shares were sold at an average price of $83.26, for a total transaction of $832,600.00. Following the sale, the director now directly owns 106,401 shares in the company, valued at $8,858,947.26. The disclosure for this sale can be found here. Insiders have sold 67,863 shares of company stock worth $5,742,930 over the last ninety days. Insiders own 5.90% of the company’s stock.

J2 Global stock traded down $0.49 during trading hours on Friday, hitting $88.40. 218,039 shares of the stock were exchanged, compared to its average volume of 269,207. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.98. The stock has a market capitalization of $4.31 billion, a price-to-earnings ratio of 14.93, a P/E/G ratio of 1.78 and a beta of 0.90. J2 Global Inc has a 12 month low of $65.07 and a 12 month high of $91.58.

J2 Global (NASDAQ:JCOM) last issued its quarterly earnings data on Tuesday, February 12th. The technology company reported $2.11 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.89 by $0.22. The firm had revenue of $346.10 million for the quarter, compared to analysts’ expectations of $342.12 million. J2 Global had a net margin of 10.66% and a return on equity of 28.12%. The company’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.79 earnings per share. As a group, equities research analysts predict that J2 Global Inc will post 6.22 EPS for the current year.

Several equities analysts have recently commented on the stock. Zacks Investment Research upgraded shares of J2 Global from a “hold” rating to a “buy” rating and set a $99.00 price target on the stock in a report on Wednesday. Citigroup boosted their price target on shares of J2 Global from $86.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday, April 3rd. Finally, BidaskClub upgraded shares of J2 Global from a “hold” rating to a “buy” rating in a report on Tuesday, February 5th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $96.20.

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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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Institutional Ownership by Quarter for J2 Global (NASDAQ:JCOM)

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