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Gregory Suess, a director at Zedge, Inc. (AMEX:ZDGE), has recently increased his stake in the company through a series of stock purchases. According to a recent SEC filing, Suess acquired a total of 6,650 shares of Zedge’s Class B Common Stock over three consecutive days. The transactions, which took place from March 18 to March 20, were executed at prices ranging from $2.2453 to $2.27 per share, amounting to a total investment of approximately $15,006. The company, currently valued at $4.61 million, maintains impressive gross profit margins of 93.8% and boasts a strong financial health score according to InvestingPro analysis.
Following these transactions, Suess now holds 58,081 shares directly, which includes 48,073 fully vested shares of Restricted Stock. Trading at a price-to-book ratio of just 0.17, the stock appears significantly undervalued based on traditional metrics. The purchases reflect a continued confidence in the company’s potential, as Suess bolsters his position within Zedge’s shareholder base. InvestingPro subscribers can access 8 additional key insights and a comprehensive analysis of Zedge’s financial health and growth prospects.
In other recent news, Zedge Inc. reported its fiscal first quarter 2025 earnings, revealing a substantial miss on both earnings and revenue expectations. The company posted an earnings per share (EPS) of -$0.01, falling short of the projected $0.06, and reported revenue of $7 million, which was below the anticipated $8.3 million. This marks a significant year-over-year revenue decline of 10%, despite a 13% increase in subscription revenue and a 22% growth in net active subscribers. In response to these financial pressures, Zedge has undertaken a restructuring effort, reducing its global workforce by 22% to improve operational efficiency and profitability. The company also plans to launch new AI-driven features and continue its share buyback program. Furthermore, Zedge’s Zedge Premium Gross Transaction (JO:NTUJ) Value (GTV) rose by 27% year-over-year, indicating strong momentum in its premium offerings. Meanwhile, the company is cautiously optimistic about recovering ad revenue as market conditions improve, with plans to introduce an AI audio creator in the coming quarters.
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