Pacific Ridge Capital Partners LL.. recently announced the acquisition of new stake in ZAGG Inc (NASDAQ:ZAGG). The institutional investor has increased its shareholding in the Consumer Cyclical company by 7.58% to 1.46 million shares with purchase of 0.1 million shares. This fresh investment now brings its stake to 4.89% valued currently at $4.16 million. In addition, Kennedy Capital Management, Inc. raised its holdings by 0.26 million to 0.86 million shares.
With over 2.4 million ZAGG Inc (ZAGG) shares trading Friday and a closing price of $3.44 on the day, the dollar volume was approximately $8.25 million. The shares have shown a negative weekly performance of -8.99% and its price on 08/21/20 lost nearly -1.71%. Currently, there are 29.81M common shares owned by the public and among those 28.79M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 2 analysts who have offered their price forecasts for ZAGG have a consensus price objective of $7.88. The analysts have set the share’s price value over the next 12 months at a high of $8.00 and a low of $7.75 should the stock experience a downside. Incidentally, analysts’ outlook for the ZAGG Inc stock is 1.50 for the next 12 months. But an upside of 57.0% will see the stock hit the forecast high price target while mean target price for the stock is $7.88.
Insiders at the company have transacted a total of 27 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 19 of these insider trades were purchases, accounting for 320,577 shares. Insider sales of the common stock occurred on 8 occasions, with total insider shares sold totaling 30,043 shares.
The top 3 mutual fund holders in ZAGG Inc are Roumell Opportunistic Value Fund, Vanguard Total Stock Market Index, and Mutual of America Invt. Corp. – S. Roumell Opportunistic Value Fund owns 1.21 million shares of the company’s stock, all valued at over $3.44 million. The company bought an additional 0.14 million shares recently to bring their total holdings to about 4.05% of the shares outstanding. Mutual of America Invt. Corp. – S sold 78456.0 shares to bring its total holdings to over 0.54 million shares at a value of $1.53 million. Mutual of America Invt. Corp. – S now owns shares totaling to 1.80% of the shares outstanding.
Shares of ZAGG Inc (NASDAQ: ZAGG) opened at $3.53, up $0.03 from a prior closing price of $3.50. However, the script later closed the day at $3.44, down -1.71%. The company’s stock has a 5-day price change of -8.99% and 14.29% over the past three months. ZAGG shares are trading -57.58% year to date (YTD), with the 12-month market performance down to -48.58% lower. It has a 12-month low price of $2.06 and touched a high of $9.01 over the same period. Currently, 2.4 million shares have been traded, compared to an average intraday trading volume of 1.07 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 4.85%, 10.04%, and -32.85% respectively.
Institutional ownership of ZAGG Inc (NASDAQ: ZAGG) shares accounts for 83.00% of the company’s 29.81M shares outstanding. Mutual fund holders own 34.58%, while other institutional holders and individual stakeholders account for 43.30% and 32.25% respectively.
It has a market capitalization of $104.40M and a beta (3y monthly) value of 1.58. The earnings-per-share (ttm) stands at -$1.52. Price movements for the stock have been influenced by the stock’s volatility, which stands at 7.34% over the week and 10.66% over the month.
Analysts forecast that ZAGG Inc (ZAGG) will achieve an EPS of $0.03 for the current quarter, $0.39 for the next quarter and $0.13 for 2021. The lowest estimate earnings-per-share for the quarter is -$0.07 while analysts give the company a high EPS estimate of $0.13. Comparatively, EPS for the current quarter was $0.3 a year ago. Earnings per share for the fiscal year are expected to decrease by -65.40%, and 105.70% over the next financial year. EPS should grow at an annualized rate of 10.00% over the next five years, compared to 6.90% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 2 brokerage firm advisors rate ZAGG Inc (ZAGG) as a “Strong Buy” at a consensus score of 1.50. Specifically, 2 Wall Street analysts polled rate the stock as a buy, while 0 of the 2 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the ZAGG, a number of firms have released research notes about the stock. Craig Hallum stated their Hold rating for the stock in a research note on March 12, 2020, with the firm’s price target at. B. Riley FBR coverage for the ZAGG Inc (ZAGG) stock in a research note released on November 07, 2018 offered a Neutral rating with a price target of $15. B. Riley FBR Inc. was of a view on March 08, 2018 that the stock is Neutral, while B. Riley FBR Inc. gave the stock Buy rating on January 17, 2018, issuing a price target of. Northland Capital on their part issued Outperform rating on September 13, 2017.