Moors & Cabot Inc. cut its stake in Zagg Inc (NASDAQ:ZAGG) by 63.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 43,250 shares of the specialty retailer’s stock after selling 75,450 shares during the quarter. Moors & Cabot Inc. owned about 0.15% of Zagg worth $794,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in ZAGG. SG Americas Securities LLC purchased a new position in Zagg in the fourth quarter valued at about $108,000. Financial Gravity Companies Inc. purchased a new position in Zagg in the fourth quarter valued at about $119,000. Voya Investment Management LLC raised its position in Zagg by 18.2% in the second quarter. Voya Investment Management LLC now owns 17,709 shares of the specialty retailer’s stock valued at $153,000 after purchasing an additional 2,730 shares during the period. Alliancebernstein L.P. purchased a new stake in shares of Zagg during the second quarter worth about $169,000. Finally, IFC Holdings Incorporated FL purchased a new stake in shares of Zagg during the fourth quarter worth about $229,000. 81.10% of the stock is currently owned by institutional investors.
Shares of Zagg Inc (NASDAQ:ZAGG) traded down $0.10 during trading on Wednesday, reaching $12.65. The company had a trading volume of 442,359 shares, compared to its average volume of 643,251. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.68 and a current ratio of 1.12. The company has a market capitalization of $358.08, a price-to-earnings ratio of 24.33, a P/E/G ratio of 1.82 and a beta of 0.96. Zagg Inc has a 1 year low of $6.30 and a 1 year high of $23.70.
A number of brokerages have recently issued reports on ZAGG. Craig Hallum reaffirmed a “buy” rating and set a $19.00 target price (down from $24.00) on shares of Zagg in a research report on Thursday, March 8th. B. Riley lowered Zagg from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $20.00 to $16.00 in a research report on Thursday, March 8th. Zacks Investment Research reaffirmed a “hold” rating on shares of Zagg in a research report on Saturday, February 10th. ValuEngine raised Zagg from a “hold” rating to a “buy” rating in a research report on Tuesday, January 16th. Finally, Northland Securities reaffirmed a “buy” rating and set a $23.00 target price on shares of Zagg in a research report on Friday, December 1st. Three investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $17.17.
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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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