Menta Capital LLC Cuts Stock Position in J2 Global Inc (NASDAQ:JCOM)

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Menta Capital LLC cut its holdings in shares of J2 Global Inc (NASDAQ:JCOM) by 19.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,659 shares of the technology company’s stock after selling 2,741 shares during the period. Menta Capital LLC’s holdings in J2 Global were worth $1,036,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of JCOM. Tortoise Index Solutions LLC purchased a new stake in J2 Global during the first quarter worth about $28,000. Truvestments Capital LLC grew its position in shares of J2 Global by 258.9% during the second quarter. Truvestments Capital LLC now owns 402 shares of the technology company’s stock worth $36,000 after buying an additional 290 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of J2 Global during the second quarter worth about $44,000. Hussman Strategic Advisors Inc. acquired a new position in shares of J2 Global during the first quarter worth about $52,000. Finally, III Capital Management acquired a new position in shares of J2 Global during the second quarter worth about $105,000.

Shares of J2 Global stock traded down $0.35 on Tuesday, reaching $82.15. 9,743 shares of the company were exchanged, compared to its average volume of 393,211. The stock’s 50 day moving average price is $85.95 and its 200-day moving average price is $86.02. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.94 and a quick ratio of 0.94. The company has a market cap of $4.03 billion, a P/E ratio of 13.87 and a beta of 0.83. J2 Global Inc has a 1-year low of $65.07 and a 1-year high of $92.00.

J2 Global (NASDAQ:JCOM) last announced its quarterly earnings results on Tuesday, August 6th. The technology company reported $1.47 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.42 by $0.05. The firm had revenue of $322.43 million during the quarter, compared to the consensus estimate of $320.25 million. J2 Global had a return on equity of 28.85% and a net margin of 11.61%. The firm’s quarterly revenue was up 12.0% compared to the same quarter last year. During the same period in the prior year, the company posted $1.50 earnings per share. On average, research analysts predict that J2 Global Inc will post 6.63 earnings per share for the current fiscal year.

A number of equities analysts have recently commented on the company. Wedbush boosted their price objective on J2 Global from $95.00 to $105.00 and gave the stock an “outperform” rating in a research report on Thursday, May 9th. BidaskClub downgraded J2 Global from a “hold” rating to a “sell” rating in a research report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $102.25.

In related news, VP Jeremy Rossen sold 2,617 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $83.50, for a total value of $218,519.50. Following the completion of the transaction, the vice president now directly owns 32,440 shares of the company’s stock, valued at $2,708,740. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 5.90% of the company’s stock.

About J2 Global

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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