California Public Employees Retirement System raised its stake in ZAGG Inc (NASDAQ:ZAGG) by 134.5% during the first quarter, according to its most recent disclosure with the SEC. The firm owned 197,900 shares of the specialty retailer’s stock after buying an additional 113,500 shares during the period. California Public Employees Retirement System’s holdings in ZAGG were worth $1,416,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. American International Group Inc. boosted its position in shares of ZAGG by 7.0% in the first quarter. American International Group Inc. now owns 16,976 shares of the specialty retailer’s stock valued at $122,000 after buying an additional 1,117 shares during the last quarter. Wedbush Securities Inc. purchased a new position in shares of ZAGG during the first quarter valued at approximately $130,000. Brandes Investment Partners LP boosted its position in shares of ZAGG by 86.9% in the first quarter. Brandes Investment Partners LP now owns 19,621 shares of the specialty retailer’s stock valued at $141,000 after buying an additional 9,122 shares during the last quarter. Strs Ohio boosted its position in shares of ZAGG by 587.9% in the first quarter. Strs Ohio now owns 22,700 shares of the specialty retailer’s stock valued at $163,000 after buying an additional 19,400 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of ZAGG by 0.4% in the first quarter. JPMorgan Chase & Co. now owns 24,142 shares of the specialty retailer’s stock valued at $174,000 after buying an additional 91 shares during the last quarter. Institutional investors and hedge funds own 78.04% of the company’s stock.
Shares of ZAGG Inc (ZAGG) opened at 9.40 on Monday. ZAGG Inc has a one year low of $5.15 and a one year high of $9.44. The company’s 50 day moving average is $8.57 and its 200 day moving average is $7.55. The company’s market capitalization is $263.03 million.
ZAGG (NASDAQ:ZAGG) last announced its earnings results on Tuesday, August 1st. The specialty retailer reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.02. The business had revenue of $115.20 million for the quarter, compared to the consensus estimate of $107.81 million. ZAGG had a negative net margin of 3.12% and a positive return on equity of 5.34%. ZAGG’s quarterly revenue was up 15.4% on a year-over-year basis. During the same period last year, the firm posted $0.11 earnings per share. Equities research analysts predict that ZAGG Inc will post $0.82 earnings per share for the current year.
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Several equities analysts have recently commented on ZAGG shares. Wunderlich dropped their target price on shares of ZAGG from $10.00 to $8.00 and set a “buy” rating for the company in a research report on Wednesday, May 3rd. Zacks Investment Research upgraded shares of ZAGG from a “hold” rating to a “buy” rating and set a $9.50 target price for the company in a research report on Wednesday, July 19th. Northland Securities set a $10.00 target price on shares of ZAGG and gave the company a “buy” rating in a research report on Tuesday, July 25th. TheStreet upgraded shares of ZAGG from a “d+” rating to a “c-” rating in a research report on Friday, May 5th. Finally, Roth Capital set a $9.00 target price on shares of ZAGG and gave the company a “hold” rating in a research report on Saturday, June 17th. One analyst has rated the stock with a hold rating, two have given a buy rating and two have assigned a strong buy rating to the company. ZAGG currently has a consensus rating of “Buy” and a consensus target price of $9.75.
About ZAGG
ZAGG Inc (ZAGG) designs, produces and distributes professional product solutions for mobile devices, including screen protection (glass and film), keyboards for tablet computers and mobile devices, keyboard cases, earbuds, mobile power solutions, cables, and cases under the ZAGG and InvisibleShield brands.
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