Los Angeles Capital Management & Equity Research Inc. Boosts Stock Position in J2 Global Inc (NASDAQ:JCOM)

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Los Angeles Capital Management & Equity Research Inc. boosted its holdings in J2 Global Inc (NASDAQ:JCOM) by 55.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 94,565 shares of the technology company’s stock after purchasing an additional 33,800 shares during the period. Los Angeles Capital Management & Equity Research Inc. owned about 0.19% of J2 Global worth $8,406,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Bridge City Capital LLC boosted its position in J2 Global by 0.5% in the second quarter. Bridge City Capital LLC now owns 29,160 shares of the technology company’s stock worth $2,592,000 after purchasing an additional 144 shares during the last quarter. Meitav Dash Investments Ltd. raised its stake in shares of J2 Global by 3.2% in the first quarter. Meitav Dash Investments Ltd. now owns 7,920 shares of the technology company’s stock valued at $681,000 after buying an additional 244 shares during the period. Oregon Public Employees Retirement Fund raised its stake in shares of J2 Global by 1.4% in the second quarter. Oregon Public Employees Retirement Fund now owns 19,100 shares of the technology company’s stock valued at $1,698,000 after buying an additional 265 shares during the period. Truvestments Capital LLC raised its stake in shares of J2 Global by 258.9% in the second quarter. Truvestments Capital LLC now owns 402 shares of the technology company’s stock valued at $36,000 after buying an additional 290 shares during the period. Finally, Tortoise Index Solutions LLC bought a new stake in shares of J2 Global in the first quarter valued at $28,000. 99.90% of the stock is currently owned by institutional investors and hedge funds.

In other J2 Global news, VP Jeremy Rossen sold 2,213 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $86.30, for a total transaction of $190,981.90. Following the completion of the transaction, the vice president now owns 36,440 shares of the company’s stock, valued at approximately $3,144,772. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO R Scott Turicchi sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $86.67, for a total value of $866,700.00. Following the transaction, the chief financial officer now directly owns 293,139 shares of the company’s stock, valued at approximately $25,406,357.13. The disclosure for this sale can be found here. Insiders have sold a total of 21,102 shares of company stock valued at $1,830,912 over the last 90 days. 5.90% of the stock is currently owned by company insiders.

Several analysts have issued reports on the company. BidaskClub lowered J2 Global from a “hold” rating to a “sell” rating in a research note on Wednesday, August 7th. Zacks Investment Research upgraded J2 Global from a “hold” rating to a “buy” rating and set a $99.00 target price on the stock in a research note on Wednesday, April 17th. Wedbush boosted their target price on J2 Global from $95.00 to $105.00 and gave the company an “outperform” rating in a research note on Thursday, May 9th. Finally, DA Davidson set a $110.00 target price on J2 Global and gave the company a “buy” rating in a research note on Monday, April 22nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company’s stock. J2 Global currently has an average rating of “Buy” and an average target price of $100.20.

Shares of NASDAQ:JCOM traded up $0.85 during midday trading on Tuesday, reaching $81.79. 41,228 shares of the company traded hands, compared to its average volume of 348,159. The company has a quick ratio of 1.25, a current ratio of 0.94 and a debt-to-equity ratio of 1.09. J2 Global Inc has a 12 month low of $65.07 and a 12 month high of $92.00. The company has a market capitalization of $3.97 billion, a price-to-earnings ratio of 13.82 and a beta of 0.83. The business’s fifty day moving average price is $87.62.

J2 Global (NASDAQ:JCOM) last posted its earnings results on Tuesday, August 6th. The technology company reported $1.47 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.42 by $0.05. J2 Global had a return on equity of 28.85% and a net margin of 11.61%. The business had revenue of $322.43 million during the quarter, compared to analysts’ expectations of $320.25 million. During the same period in the previous year, the business earned $1.50 earnings per share. The firm’s revenue was up 12.0% on a year-over-year basis. As a group, equities analysts anticipate that J2 Global Inc will post 6.65 earnings per share for the current year.

J2 Global Profile

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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