Zedge (NYSEAMERICAN:ZDGE) Issues Earnings Results, Misses Expectations By $0.02 EPS

Zedge (NYSEAMERICAN:ZDGEGet Rating) released its quarterly earnings results on Monday. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.02), Fidelity Earnings reports. Zedge had a return on equity of 26.15% and a net margin of 37.67%.

Zedge stock traded down $0.12 during midday trading on Wednesday, hitting $3.65. The stock had a trading volume of 1,058 shares, compared to its average volume of 100,645. The firm has a market cap of $50.64 million, a P/E ratio of 6.08 and a beta of 1.01. Zedge has a 12 month low of $3.67 and a 12 month high of $19.90.

Separately, Maxim Group started coverage on Zedge in a report on Thursday, April 14th. They issued a “buy” rating and a $16.00 price target for the company.

In other Zedge news, Director Mark Ghermezian bought 4,355 shares of the stock in a transaction on Monday, April 18th. The stock was purchased at an average price of $5.81 per share, for a total transaction of $25,302.55. Following the completion of the purchase, the director now directly owns 28,253 shares in the company, valued at $164,149.93. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last three months, insiders have purchased 11,070 shares of company stock worth $59,390. Corporate insiders own 22.00% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of ZDGE. Morgan Stanley grew its position in Zedge by 936.6% in the 1st quarter. Morgan Stanley now owns 16,555 shares of the company’s stock valued at $200,000 after buying an additional 14,958 shares in the last quarter. Goldman Sachs Group Inc. acquired a new position in shares of Zedge in the 3rd quarter worth $145,000. Bank of New York Mellon Corp raised its position in shares of Zedge by 31.7% during the third quarter. Bank of New York Mellon Corp now owns 68,992 shares of the company’s stock worth $922,000 after purchasing an additional 16,590 shares during the period. JPMorgan Chase & Co. purchased a new stake in shares of Zedge during the fourth quarter valued at $53,000. Finally, Geode Capital Management LLC boosted its position in shares of Zedge by 10.2% in the 4th quarter. Geode Capital Management LLC now owns 133,969 shares of the company’s stock valued at $1,138,000 after purchasing an additional 12,428 shares during the period. Hedge funds and other institutional investors own 24.02% of the company’s stock.

About Zedge (Get Rating)

Zedge, Inc operates a digital publishing and content platform worldwide. Its platform enables consumers to personalize their mobile devices with ringtones, home screen app icons, wallpapers, widgets, and notification sounds. The company was incorporated in 2008 and is based in New York, New York.

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Earnings History for Zedge (NYSEAMERICAN:ZDGE)

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