Gold bars to be exempt from tariffs, White House clarifies
Gibber Elliot, a director at Zedge, Inc. (AMEX:ZDGE), recently increased his stake in the company with two separate stock purchases, a notable move given the stock’s 42% decline over the past six months. According to a recent SEC filing, Elliot acquired a total of 10,000 shares of Zedge’s Class B common stock in transactions dated April 11 and April 15. The shares were purchased at prices ranging from $1.9482 to $2.0369 per share, amounting to a total investment of $19,925. InvestingPro analysis suggests the stock is currently undervalued, with management actively buying back shares.
Following these transactions, Elliot now holds a total of 226,083 shares directly and indirectly, which includes 108,890 fully vested shares of restricted stock and additional shares held directly. This move reflects Elliot’s continued confidence in Zedge, a company known for its prepackaged software services and impressive 93.8% gross profit margins. The company maintains strong liquidity with a current ratio of 3.35 and holds more cash than debt on its balance sheet. For deeper insights into insider trading patterns and 11 additional ProTips, visit InvestingPro.
In other recent news, Zedge Inc. reported its fiscal first-quarter 2025 results, revealing a significant shortfall in both earnings and revenue. The company posted an earnings per share (EPS) of -$0.01, contrasting sharply with the forecasted $0.06, and reported revenue of $7 million, which fell short of the expected $8.3 million. This marks a 10% year-over-year decline in total revenue, although subscription revenue rose by 13%, and net active subscribers increased by 22%. Zedge also announced a restructuring plan, reducing its global workforce by 22% to improve operational efficiency and profitability. The restructuring is expected to yield annualized cost savings of approximately $4 million. Despite these challenges, the company plans to launch new AI-driven features, including an AI audio creator, and continues its share buyback program. Analysts from Maxim Group discussed Zedge’s strategy during an earnings call, focusing on the company’s efforts to enhance its subscription offerings and optimize its ad inventory. The company remains cautiously optimistic about recovering ad revenue as market conditions improve.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.