California State Teachers Retirement System reduced its stake in shares of Zagg Inc (NASDAQ:ZAGG) by 13.2% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 48,167 shares of the specialty retailer’s stock after selling 7,300 shares during the period. California State Teachers Retirement System owned about 0.17% of Zagg worth $417,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in Zagg by 6.4% during the 1st quarter. Vanguard Group Inc. now owns 1,106,248 shares of the specialty retailer’s stock worth $7,964,000 after purchasing an additional 66,284 shares in the last quarter. Moors & Cabot Inc. increased its holdings in Zagg by 49.8% during the 2nd quarter. Moors & Cabot Inc. now owns 119,900 shares of the specialty retailer’s stock worth $1,040,000 after purchasing an additional 39,850 shares in the last quarter. Numeric Investors LLC bought a new stake in Zagg during the 2nd quarter worth approximately $707,000. Seizert Capital Partners LLC increased its holdings in Zagg by 2.7% during the 2nd quarter. Seizert Capital Partners LLC now owns 300,999 shares of the specialty retailer’s stock worth $2,604,000 after purchasing an additional 7,989 shares in the last quarter. Finally, OxFORD Asset Management LLP bought a new stake in Zagg during the 2nd quarter worth approximately $451,000. 82.75% of the stock is owned by hedge funds and other institutional investors.
In related news, CFO Bradley J. Holiday sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $19.02, for a total value of $190,200.00. Following the transaction, the chief financial officer now owns 89,587 shares in the company, valued at $1,703,944.74. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Randall L. Hales sold 19,829 shares of the company’s stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $19.85, for a total value of $393,605.65. Following the completion of the transaction, the chief executive officer now owns 713,380 shares in the company, valued at approximately $14,160,593. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 99,830 shares of company stock valued at $1,903,425. 4.20% of the stock is currently owned by corporate insiders.
Zagg (NASDAQ:ZAGG) last released its earnings results on Wednesday, November 1st. The specialty retailer reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.02. The company had revenue of $134.40 million during the quarter, compared to analyst estimates of $128.23 million. Zagg had a return on equity of 6.59% and a net margin of 0.63%. Zagg’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.29 earnings per share. analysts anticipate that Zagg Inc will post 1 EPS for the current year.
ZAGG has been the subject of a number of recent research reports. TheStreet raised Zagg from a “c” rating to a “b-” rating in a report on Wednesday, November 1st. Zacks Investment Research raised Zagg from a “hold” rating to a “strong-buy” rating and set a $20.00 price objective for the company in a report on Thursday, October 26th. Northland Securities boosted their price objective on Zagg from $12.00 to $16.00 and gave the stock an “outperform” rating in a report on Wednesday, September 13th. Roth Capital set a $17.00 price objective on Zagg and gave the stock a “hold” rating in a report on Tuesday, October 17th. Finally, B. Riley set a $17.00 price objective on Zagg and gave the stock a “hold” rating in a report on Monday, October 30th. One research analyst has rated the stock with a hold rating, four have given a buy rating and two have assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $18.83.
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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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