Millennium Management LLC Buys Shares of 18,881 Zillow Group Inc (Z)

Millennium Management LLC bought a new position in Zillow Group Inc (NASDAQ:Z) in the 2nd quarter, HoldingsChannel reports. The firm bought 18,881 shares of the financial services provider’s stock, valued at approximately $1,115,000.

Several other hedge funds have also recently modified their holdings of the business. Partner Fund Management L.P. purchased a new stake in shares of Zillow Group in the 2nd quarter worth $21,663,000. Partner Investment Management L.P. purchased a new stake in shares of Zillow Group in the 2nd quarter worth $580,000. Soros Fund Management LLC purchased a new stake in shares of Zillow Group in the 2nd quarter worth $5,268,000. Vident Investment Advisory LLC purchased a new stake in shares of Zillow Group in the 2nd quarter worth $596,000. Finally, Arrowgrass Capital Partners US LP purchased a new stake in shares of Zillow Group in the 2nd quarter worth $5,906,000. Institutional investors and hedge funds own 60.27% of the company’s stock.

Zillow Group stock opened at $41.58 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 8.18 and a quick ratio of 8.13. Zillow Group Inc has a one year low of $36.52 and a one year high of $65.70. The stock has a market capitalization of $8.41 billion, a price-to-earnings ratio of 2,079.00 and a beta of 0.63.

Zillow Group (NASDAQ:Z) last released its quarterly earnings results on Monday, August 6th. The financial services provider reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.05. Zillow Group had a positive return on equity of 0.23% and a negative net margin of 7.54%. The company had revenue of $325.25 million during the quarter.

In other Zillow Group news, insider Greg M. Schwartz sold 5,400 shares of the stock in a transaction dated Tuesday, September 4th. The stock was sold at an average price of $48.34, for a total value of $261,036.00. Following the completion of the sale, the insider now directly owns 1,800 shares in the company, valued at $87,012. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Spencer M. Rascoff sold 58,050 shares of the stock in a transaction dated Monday, August 27th. The shares were sold at an average price of $47.66, for a total value of $2,766,663.00. Following the completion of the sale, the chief executive officer now owns 70,050 shares of the company’s stock, valued at $3,338,583. The disclosure for this sale can be found here. Over the last quarter, insiders sold 184,375 shares of company stock valued at $8,525,002. 21.72% of the stock is currently owned by company insiders.

A number of brokerages recently weighed in on Z. ValuEngine cut Zillow Group from a “hold” rating to a “sell” rating in a research note on Wednesday, August 8th. Zelman & Associates began coverage on Zillow Group in a research note on Friday. They set a “hold” rating for the company. BidaskClub cut Zillow Group from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 1st. Morgan Stanley upped their price objective on Zillow Group from $50.00 to $54.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 11th. Finally, Bank of America cut Zillow Group from a “buy” rating to a “neutral” rating in a research note on Tuesday, August 7th. Seven investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $56.11.

Zillow Group Profile

Zillow Group, Inc operates real estate and home-related information marketplaces on mobile and the Web in the United States. The company offers a portfolio of brands and products to enable consumers find information about homes and connect with local professionals. Its brands focus on various stages of the home lifecycle, including renting, buying, selling, and financing.

See Also: What are the Different Types of Leveraged Buyouts?

Want to see what other hedge funds are holding Z? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Zillow Group Inc (NASDAQ:Z).

Institutional Ownership by Quarter for Zillow Group (NASDAQ:Z)

Receive News & Ratings for Zillow Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zillow Group and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply