Market Runner: What’s in Zagg Inc After Today’s Significant Decline?

Market Runner: What's in Zagg Inc After Today's Significant Decline?

The stock of Zagg Inc (NASDAQ:ZAGG) is a huge mover today! The stock decreased 9.60% or $0.6 on November 4, hitting $5.65. About 371,264 shares traded hands or 2.35% up from the average. Zagg Inc (NASDAQ:ZAGG) has declined 27.91% since April 4, 2016 and is downtrending. It has underperformed by 29.00% the S&P500.
The move comes after 6 months negative chart setup for the $137.87M company. It was reported on Nov, 4 by Barchart.com. We have $4.97 PT which if reached, will make NASDAQ:ZAGG worth $16.54 million less.

Zagg Inc (NASDAQ:ZAGG) Ratings Coverage

Out of 3 analysts covering ZAGG (NASDAQ:ZAGG), 1 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 33% are positive. ZAGG has been the topic of 5 analyst reports since August 5, 2015 according to StockzIntelligence Inc. The stock of Zagg Inc (NASDAQ:ZAGG) has “Buy” rating given on Wednesday, May 11 by Wunderlich. The stock of Zagg Inc (NASDAQ:ZAGG) earned “Buy” rating by Wunderlich on Wednesday, November 2. The stock has “Neutral” rating given by TH Capital on Wednesday, August 5. The rating was upgraded by Craig Hallum to “Hold” on Thursday, August 27.

According to Zacks Investment Research, “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.”

Insitutional Activity: The institutional sentiment decreased to 0.57 in Q2 2016. Its down 0.88, from 1.45 in 2016Q1. The ratio turned negative, as 40 funds sold all Zagg Inc shares owned while 47 reduced positions. 20 funds bought stakes while 30 increased positions. They now own 21.38 million shares or 19.75% less from 26.64 million shares in 2016Q1.
The Texas-based Dimensional Fund Limited Partnership has invested 0.01% in Zagg Inc (NASDAQ:ZAGG). Voya Invest Management Ltd Com has invested 0% of its portfolio in Zagg Inc (NASDAQ:ZAGG). Allianz Asset Mgmt Ag accumulated 0% or 53,474 shares. Umb Bancorp N A Mo holds 0% or 15,022 shares in its portfolio. New Amsterdam Prtnrs Limited Liability Corporation Ny owns 344,212 shares or 0.44% of their US portfolio. Gsa Cap Partners Limited Liability Partnership has 480,519 shares for 0.14% of their US portfolio. Blackrock has invested 0% of its portfolio in Zagg Inc (NASDAQ:ZAGG). Qs Investors Limited Liability has 0.01% invested in the company for 127,419 shares. Guggenheim Lc holds 16,195 shares or 0% of its portfolio. Cadence Ltd Liability Corp has 0.05% invested in the company for 118,459 shares. Spark Investment Management Lc accumulated 88,400 shares or 0.04% of the stock. Hawk Ridge Mgmt L P last reported 386,000 shares in the company. Blackrock Japan Co Limited last reported 0% of its portfolio in the stock. Wesbanco Savings Bank, a West Virginia-based fund reported 23,000 shares. Moreover, Highbridge Capital Mgmt Limited Liability Co has 0% invested in Zagg Inc (NASDAQ:ZAGG) for 35,561 shares.

Insider Transactions: Since May 19, 2016, the stock had 2 insider buys, and 0 insider sales for $238,405 net activity. HOLIDAY BRADLEY J had bought 7,560 shares worth $39,614 on Thursday, May 19. Another trade for 37,865 shares valued at $198,791 was bought by HEINER E TODD.

More recent Zagg Inc (NASDAQ:ZAGG) news were published by: Globenewswire.com which released: “ZAGG Inc. Introduces Full Product Lineup for iPhone 7, iPhone 7 Plus & Apple …” on September 08, 2016. Also Streetinsider.com published the news titled: “ZAGG, Inc. (ZAGG) Tops Q3 EPS by 15c” on November 01, 2016. Investorplace.com‘s news article titled: “Hottest Retail Trade Stocks Now – RRGB ZAGG WFM ZUMZ” with publication date: November 03, 2016 was also an interesting one.

ZAGG Company Profile

ZAGG Inc (ZAGG), incorporated on April 2, 2004, 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. In addition, the Company designs, produces and distributes earbuds, headphones, mobile power solutions, Bluetooth speakers, cases and cables for mobile devices under the iFrogz brand in the fashion and youth oriented lifestyle sector. The Firm creates product solutions for users of mobile devices, and sells these products to clients through global distribution partners and online. The Firm offers products for various market divisions of handheld electronic devices, including smartphones, tablets, notebook computers, laptops, gaming devices, global positioning system (GPS) devices, watch faces, and similar devices and surfaces.

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