MetLife Investment Advisors LLC Cuts Stake in J2 Global Inc (NASDAQ:JCOM)

MetLife Investment Advisors LLC lessened its stake in shares of J2 Global Inc (NASDAQ:JCOM) by 0.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 48,134 shares of the technology company’s stock after selling 316 shares during the quarter. MetLife Investment Advisors LLC owned about 0.10% of J2 Global worth $4,168,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of JCOM. Fort L.P. lifted its holdings in J2 Global by 32.3% in the first quarter. Fort L.P. now owns 27,888 shares of the technology company’s stock valued at $2,415,000 after buying an additional 6,802 shares during the period. Jackson Square Partners LLC increased its stake in J2 Global by 6.8% in the first quarter. Jackson Square Partners LLC now owns 2,142,188 shares of the technology company’s stock valued at $185,513,000 after purchasing an additional 135,857 shares in the last quarter. Burney Co. increased its stake in J2 Global by 4.9% in the first quarter. Burney Co. now owns 21,995 shares of the technology company’s stock valued at $1,905,000 after purchasing an additional 1,030 shares in the last quarter. Hancock Whitney Corp bought a new stake in J2 Global in the first quarter valued at approximately $4,493,000. Finally, Tortoise Index Solutions LLC bought a new stake in J2 Global in the first quarter valued at approximately $28,000. Hedge funds and other institutional investors own 99.90% of the company’s stock.

Several brokerages have commented on JCOM. DA Davidson reaffirmed a “neutral” rating on shares of Central Valley Community Bancorp in a research note on Monday, April 22nd. Citigroup upped their target price on shares of J2 Global from $86.00 to $95.00 and gave the company a “neutral” rating in a research note on Wednesday, April 3rd. Wedbush increased their price objective on shares of Roku from $55.00 to $65.00 and gave the stock a “neutral” rating in a research report on Thursday, May 9th. Finally, Zacks Investment Research upgraded shares of Hope Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, April 17th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $100.20.

JCOM stock traded up $0.60 during trading hours on Friday, reaching $89.34. The stock had a trading volume of 208,789 shares, compared to its average volume of 343,346. The company has a market capitalization of $4.37 billion, a PE ratio of 15.09, a PEG ratio of 1.67 and a beta of 0.84. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.01. The company’s 50-day moving average is $86.70. J2 Global Inc has a fifty-two week low of $65.07 and a fifty-two week high of $90.99.

J2 Global (NASDAQ:JCOM) last announced its quarterly earnings results on Tuesday, May 7th. The technology company reported $1.33 EPS for the quarter, beating analysts’ consensus estimates of $1.19 by $0.14. The firm had revenue of $299.90 million during the quarter, compared to analysts’ expectations of $296.12 million. J2 Global had a net margin of 11.60% and a return on equity of 28.93%. The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter last year, the company posted $1.22 earnings per share. As a group, sell-side analysts predict that J2 Global Inc will post 6.65 earnings per share for the current fiscal year.

In related news, insider Steve P. Dunn sold 3,263 shares of the firm’s stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $87.00, for a total transaction of $283,881.00. Following the transaction, the insider now directly owns 19,544 shares of the company’s stock, valued at $1,700,328. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO R Scott Turicchi sold 10,000 shares of the firm’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $86.67, for a total transaction of $866,700.00. Following the transaction, the chief financial officer now directly owns 293,139 shares in the company, valued at $25,406,357.13. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 21,102 shares of company stock valued at $1,830,912. 5.90% of the stock is currently owned by corporate insiders.

J2 Global Company 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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