Why One Fund Opened a $9 Million Position in Ziff Davis Amid a Major Business Sale
Key Points
Monimus bought 241,918 ZD shares in the first quarter; the estimated trade size was $8.90 million based on quarterly average prices.
The quarter-end position value increased by $10.15 million, reflecting both purchase and price movement.
The transaction represented a 2.47% change in reported 13F assets under management.
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On May 15, 2026, Monimus Capital Management disclosed a new position in Ziff Davis (NASDAQ:ZD), acquiring 241,918 shares in a trade estimated at $8.90 million based on quarterly average pricing.
What happened
According to an SEC filing dated May 15, 2026, Monimus Capital Management established a new position in Ziff Davis, buying 241,918 shares. The estimated value of the trade was $8.90 million, calculated using the mean unadjusted closing price within the first quarter. The quarter-end value of the stake was $10.15 million, a net change reflecting both the portfolio addition and price movement.
What else to know
- Top holdings after the filing:
- NASDAQ: TRIP: $26.72 million (7.4% of AUM)
- NASDAQ: BKNG: $18.92 million (5.2% of AUM)
- NASDAQ: AMZN: $15.02 million (4.2% of AUM)
- NYSE: RSKD: $14.47 million (4.0% of AUM)
- NYSE: MSGS: $13.43 million (3.7% of AUM)
- As of May 14, 2026, shares of Ziff Davis were priced at $40.62, up 21.4% over the past year and underperforming the S&P 500 by 5.87 percentage points.
Company overview
| Metric | Value |
|---|---|
| Revenue (TTM) | $1.45 billion |
| Net Income (TTM) | $47.35 million |
| Price (as of market close 2026-05-14) | $40.62 |
| One-Year Price Change | 21.43% |
Company snapshot
- Ziff Davis provides digital media properties (such as IGN, PCMag, Mashable, RetailMeNot, and Everyday Health) and cloud-based subscription services in cybersecurity and marketing technology.
- The company generates revenue primarily through advertising, digital subscriptions, and SaaS-based cybersecurity and martech offerings across a diversified portfolio.
- It serves consumers, businesses, and advertisers globally, targeting technology, entertainment, health, and e-commerce verticals.
Ziff Davis, Inc. operates as a diversified digital media and internet services company with a global footprint. Its strategy leverages a broad portfolio of well-known web properties and SaaS solutions to capture revenue from both consumer and enterprise markets.
What this transaction means for investors
This purchase ultimately seems like a bet that Ziff Davis is worth more broken apart than bundled together. Management is actively exploring “value-creating transactions” and, in the first quarter, agreed to sell its Connectivity business, which could sharpen the company’s focus on higher-margin digital media, cybersecurity, and subscription businesses.
The latest quarter showed why that thesis is complicated but still interesting. Revenue slipped 1.9% year over year to $267.6 million, while operating income fell nearly 80% to $2.9 million. Still, some segments held up well. Gaming and Entertainment revenue climbed 7.2%, while Cybersecurity and Martech revenue rose 3.6%.
The company also remained aggressive on capital returns, spending roughly $51.6 million on share repurchases during the quarter. Ziff Davis ended March with about $520 million in continuing-operations cash and cash equivalents.
Going forward, the key question is whether Ziff Davis can unlock value through asset sales while stabilizing its slower-growth media properties. If management pulls that off, the current valuation could look far less demanding than the market assumes today.
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Jonathan Ponciano has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Amazon, Booking Holdings, and Tripadvisor. The Motley Fool has a disclosure policy.
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