NINE MASTS CAPITAL Ltd Makes New Investment in Zillow Group, Inc. (NASDAQ:ZG)

NINE MASTS CAPITAL Ltd bought a new position in shares of Zillow Group, Inc. (NASDAQ:ZG) during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund bought 57,377 shares of the technology company’s stock, valued at approximately $2,584,000. Zillow Group accounts for about 0.8% of NINE MASTS CAPITAL Ltd’s investment portfolio, making the stock its 22nd largest position.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Fidelis Capital Partners LLC acquired a new stake in shares of Zillow Group in the 1st quarter worth approximately $32,000. Quadrant Capital Group LLC grew its holdings in shares of Zillow Group by 45.1% in the 4th quarter. Quadrant Capital Group LLC now owns 763 shares of the technology company’s stock worth $43,000 after acquiring an additional 237 shares during the period. EntryPoint Capital LLC acquired a new stake in shares of Zillow Group in the 1st quarter worth approximately $53,000. Signaturefd LLC grew its holdings in shares of Zillow Group by 29.7% in the 2nd quarter. Signaturefd LLC now owns 1,572 shares of the technology company’s stock worth $71,000 after acquiring an additional 360 shares during the period. Finally, Central Pacific Bank Trust Division acquired a new stake in shares of Zillow Group in the 1st quarter worth approximately $84,000. Institutional investors and hedge funds own 20.32% of the company’s stock.

Zillow Group Trading Down 0.3 %

Shares of Zillow Group stock opened at $54.17 on Thursday. Zillow Group, Inc. has a fifty-two week low of $33.23 and a fifty-two week high of $59.23. The firm has a market cap of $12.54 billion, a PE ratio of -78.51 and a beta of 2.00. The business’s fifty day moving average is $49.73 and its two-hundred day moving average is $46.92. The company has a quick ratio of 2.12, a current ratio of 2.12 and a debt-to-equity ratio of 0.11.

Zillow Group (NASDAQ:ZG) last issued its quarterly earnings results on Wednesday, August 7th. The technology company reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.08. Zillow Group had a negative return on equity of 2.50% and a negative net margin of 6.81%. The company had revenue of $572.00 million for the quarter, compared to analyst estimates of $538.36 million. During the same quarter in the prior year, the company posted ($0.05) EPS. The business’s revenue for the quarter was up 13.0% compared to the same quarter last year. Analysts anticipate that Zillow Group, Inc. will post -0.33 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on ZG shares. Royal Bank of Canada upped their price target on Zillow Group from $60.00 to $66.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Susquehanna upped their price target on Zillow Group from $42.00 to $55.00 and gave the stock a “neutral” rating in a report on Monday, August 12th. Benchmark upped their price target on Zillow Group from $60.00 to $65.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. DA Davidson restated a “buy” rating and issued a $52.00 price target on shares of Zillow Group in a report on Tuesday, June 18th. Finally, Barclays upped their target price on Zillow Group from $35.00 to $36.00 and gave the company an “underweight” rating in a research note on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, Zillow Group currently has an average rating of “Moderate Buy” and an average target price of $58.56.

Insiders Place Their Bets

In other Zillow Group news, CAO Jennifer Rock sold 4,050 shares of the stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $49.23, for a total transaction of $199,381.50. Following the transaction, the chief accounting officer now owns 79,694 shares of the company’s stock, valued at approximately $3,923,335.62. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Chairman Lloyd D. Frink sold 150,000 shares of the stock in a transaction on Friday, August 9th. The stock was sold at an average price of $50.83, for a total value of $7,624,500.00. Following the transaction, the chairman now directly owns 582 shares of the company’s stock, valued at approximately $29,583.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Jennifer Rock sold 4,050 shares of the stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $49.23, for a total value of $199,381.50. Following the completion of the transaction, the chief accounting officer now directly owns 79,694 shares in the company, valued at $3,923,335.62. The disclosure for this sale can be found here. Insiders have sold a total of 198,548 shares of company stock valued at $10,221,048 in the last quarter. 17.14% of the stock is currently owned by company insiders.

Zillow Group Profile

Zillow Group, Inc operates real estate brands in mobile applications and Websites in the United States. The company offers premier agent and rentals marketplaces, new construction marketplaces, advertising, display advertising, and business technology solutions, as well as dotloop and floor plans. It also provides mortgage originations and the sale of mortgages, and advertising to mortgage lenders and other mortgage professionals; and title and escrow services.