Brave Asset Management Inc Lowers stake in J2 Global Inc (JCOM)

J2 Global Inc (JCOM) : Brave Asset Management Inc reduced its stake in J2 Global Inc by 5.86% during the most recent quarter end. The investment management company now holds a total of 144,453 shares of J2 Global Inc which is valued at $9,949,923 after selling 9,000 shares in J2 Global Inc , the firm said in a disclosure report filed with the SEC on Aug 9, 2016.J2 Global Inc makes up approximately 6.50% of Brave Asset Management Inc’s portfolio.

Other Hedge Funds, Including , Acrospire Investment Management reduced its stake in JCOM by selling 100 shares or 5.56% in the most recent quarter. The Hedge Fund company now holds 1,700 shares of JCOM which is valued at $117,351. J2 Global Inc makes up approx 0.08% of Acrospire Investment Management’s portfolio.William Blair Investment Management reduced its stake in JCOM by selling 7,881 shares or 0.3% in the most recent quarter. The Hedge Fund company now holds 2,594,393 shares of JCOM which is valued at $178,701,790. J2 Global Inc makes up approx 0.66% of William Blair Investment Management’s portfolio.Neuberger Berman Group reduced its stake in JCOM by selling 432,752 shares or 80.44% in the most recent quarter. The Hedge Fund company now holds 105,254 shares of JCOM which is valued at $7,337,256. J2 Global Inc makes up approx 0.01% of Neuberger Berman Group’s portfolio. Signaturefd added JCOM to its portfolio by purchasing 59 company shares during the most recent quarter which is valued at $3,944.

J2 Global Inc closed down -2.04 points or -3.03% at $65.29 with 3,83,358 shares getting traded on Wednesday. Post opening the session at $67.13, the shares hit an intraday low of $65.26 and an intraday high of $67.66 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

On the company’s financial health, J2 Global Inc reported $1.21 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on Aug 3, 2016. Analyst had a consensus of $1.15. The company had revenue of $211.80 million for the quarter, compared to analysts expectations of $206.41 million. The company’s revenue was up 20.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.99 EPS.

j2 Global Inc. provides Internet services through two divisions: Business Cloud Services and Digital Media. The Business Cloud Services Division offers Internet fax virtual phone hosted e-mail e-mail marketing online backup unified communications and CRM solutions. It markets its services principally under the brand names eFax eVoice FuseMail Campaigner KeepItSafe Livedrive and Onebox and operates a messaging network spanning 49 countries on six continents. The Digital Media Division offers technology gaming and lifestyle content through its digital properties which include PCMag.com IGN.com AskMen.com Toolbox.com and others. The Digital Media Division also operates NetShelter Powered by BuyerBase an advanced digital ad targeting platform and Ziff Davis B2B a provider of research to enterprise buyers and leads to IT vendors.

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