Zacks Investment Research restated their hold rating on shares of Zagg (NASDAQ:ZAGG) in a report published on Saturday.
According to Zacks, “ZAGG Inc. designs, manufactures and distributes protective clear coverings and accessories for consumer electronic and hand-held devices, worldwide. ZAGG’s flagship brand, the invisibleSHIELD, is a protective, high-tech patented film covering, designed for iPods, laptops, cell phones, digital cameras, PDAs, watch faces, GPS systems, gaming devices and other items. The patent-pending invisibleSHIELD application is the first scratch protection solution of its kind on the market, and has sold over one million units. Currently, ZAGG offers over 2,500 precision pre-cut designs with a lifetime replacement warranty through online channels, resellers, college bookstores, Mac stores and mall kiosks. The company continues to increase its product lines to offer additional electronic accessories to its tech-savvy customer base, as well as an expanded array of invisibleSHIELD products for other industries. “
ZAGG has been the topic of a number of other research reports. ValuEngine raised Zagg from a hold rating to a buy rating in a research note on Tuesday, January 16th. Craig Hallum reissued a buy rating and issued a $23.00 price target (up previously from $16.00) on shares of Zagg in a research note on Thursday, October 19th. B. Riley set a $20.00 price target on Zagg and gave the stock a buy rating in a research note on Wednesday, January 17th. Northland Securities reissued a buy rating and issued a $23.00 price target on shares of Zagg in a research note on Friday, December 1st. Finally, BidaskClub cut Zagg from a buy rating to a hold rating in a research note on Tuesday, January 16th. Three investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. Zagg has a consensus rating of Buy and an average price target of $18.83.
In related news, CEO Randall L. Hales sold 19,829 shares of the business’s stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $19.85, for a total value of $393,605.65. Following the completion of the sale, the chief executive officer now owns 713,380 shares of the company’s stock, valued at approximately $14,160,593. The sale was disclosed in a document filed with the SEC, which is available at this link. Insiders own 4.20% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in ZAGG. Gotham Asset Management LLC bought a new stake in shares of Zagg in the 2nd quarter valued at approximately $100,000. SG Americas Securities LLC bought a new stake in shares of Zagg in the 4th quarter valued at approximately $108,000. Voya Investment Management LLC grew its stake in shares of Zagg by 18.2% in the 2nd quarter. Voya Investment Management LLC now owns 17,709 shares of the specialty retailer’s stock valued at $153,000 after buying an additional 2,730 shares in the last quarter. Alliancebernstein L.P. bought a new stake in shares of Zagg in the 2nd quarter valued at approximately $169,000. Finally, IFC Holdings Incorporated FL bought a new stake in shares of Zagg in the 4th quarter valued at approximately $229,000. 81.38% of the stock is owned by institutional investors and hedge funds.
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Zagg Company Profile
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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