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 5.54% during the most recent quarter end. The investment management company now holds a total of 153,453 shares of J2 Global Inc which is valued at $9.6 Million after selling 9,000 shares in J2 Global Inc , the firm said in a disclosure report filed with the SEC on May 12, 2016.J2 Global Inc makes up approximately 6.96% of Brave Asset Management Inc’s portfolio.

Other Hedge Funds, Including , Mosaic Family Wealth reduced its stake in JCOM by selling 7 shares or 13.21% in the most recent quarter. The Hedge Fund company now holds 46 shares of JCOM which is valued at $2,878.Blackrock Institutional Trust Company N.a. boosted its stake in JCOM in the latest quarter, The investment management firm added 42,398 additional shares and now holds a total of 1,369,143 shares of J2 Global Inc which is valued at $85.7 Million. J2 Global Inc makes up approx 0.01% of Blackrock Institutional Trust Company N.a.’s portfolio.Schwab Charles Investment Management Inc reduced its stake in JCOM by selling 13,607 shares or 4.83% in the most recent quarter. The Hedge Fund company now holds 267,854 shares of JCOM which is valued at $17.3 Million. J2 Global Inc makes up approx 0.02% of Schwab Charles Investment Management Inc’s portfolio.

J2 Global Inc opened for trading at $62.9 and hit $63.79 on the upside on Friday, eventually ending the session at $63.46, with a gain of 1.63% or 1.02 points. The heightened volatility saw the trading volume jump to 3,06,129 shares. Company has a market cap of $3,090,058 M.

On the company’s financial health, J2 Global Inc reported $1.05 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on May 5, 2016. Analyst had a consensus of $1.04. The company had revenue of $200.50 million for the quarter, compared to analysts expectations of $191.37 million. The company’s revenue was up 24.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.85 EPS.

Many Wall Street Analysts have commented on J2 Global Inc. J2 Global Inc was Upgraded by Citigroup to ” Buy” on Apr 1, 2016.

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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