Zagg (NASDAQ:ZAGG)‘s stock had its “hold” rating reissued by Zacks Investment Research in a research report issued on Saturday.
According to Zacks, “ZAGG Inc. designs, manufactures and distributes protective clear coverings and accessories for consumer electronic and hand-held devices, worldwide. ZAGG’s flagship brand, the invisibleSHIELD, is a protective, high-tech patented film covering, designed for iPods, laptops, cell phones, digital cameras, PDAs, watch faces, GPS systems, gaming devices and other items. The patent-pending invisibleSHIELD application is the first scratch protection solution of its kind on the market, and has sold over one million units. Currently, ZAGG offers over 2,500 precision pre-cut designs with a lifetime replacement warranty through online channels, resellers, college bookstores, Mac stores and mall kiosks. The company continues to increase its product lines to offer additional electronic accessories to its tech-savvy customer base, as well as an expanded array of invisibleSHIELD products for other industries. “
Other equities analysts also recently issued reports about the company. TheStreet upgraded Zagg from a “c” rating to a “b-” rating in a research report on Wednesday, November 1st. B. Riley set a $20.00 price objective on Zagg and gave the stock a “buy” rating in a research report on Wednesday, January 17th. ValuEngine upgraded Zagg from a “hold” rating to a “buy” rating in a research report on Tuesday, January 16th. Craig Hallum set a $24.00 price objective on Zagg and gave the stock a “buy” rating in a research report on Wednesday, January 3rd. Finally, Northland Securities restated a “buy” rating and set a $23.00 price objective on shares of Zagg in a research report on Friday, December 1st. Three research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Zagg currently has a consensus rating of “Buy” and an average price target of $18.83.
In other news, CEO Randall L. Hales sold 19,829 shares of the firm’s stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $19.85, for a total transaction of $393,605.65. Following the completion of the transaction, the chief executive officer now directly owns 713,380 shares in the company, valued at $14,160,593. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.20% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently modified their holdings of the company. Wasatch Advisors Inc. grew its stake in Zagg by 7.3% during the second quarter. Wasatch Advisors Inc. now owns 1,370,557 shares of the specialty retailer’s stock worth $11,855,000 after purchasing an additional 93,551 shares during the period. Vanguard Group Inc. grew its stake in Zagg by 7.0% during the second quarter. Vanguard Group Inc. now owns 1,183,161 shares of the specialty retailer’s stock worth $10,235,000 after purchasing an additional 76,913 shares during the period. State Street Corp grew its stake in Zagg by 8.0% during the second quarter. State Street Corp now owns 451,148 shares of the specialty retailer’s stock worth $3,904,000 after purchasing an additional 33,602 shares during the period. Northern Trust Corp grew its stake in Zagg by 5.6% during the second quarter. Northern Trust Corp now owns 408,422 shares of the specialty retailer’s stock worth $3,533,000 after purchasing an additional 21,489 shares during the period. Finally, EAM Investors LLC acquired a new stake in Zagg during the third quarter worth approximately $6,040,000. Institutional investors own 81.38% of the company’s stock.
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ZAGG Inc (ZAGG) designs, produces and distributes professional product solutions for mobile devices, including screen protection (glass and film), keyboards for tablet computers and mobile devices, keyboard cases, earbuds, mobile power solutions, cables, and cases under the ZAGG and InvisibleShield brands.
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