Bradley Holiday (Insider Trades), CFO of ZAGG Inc. (ZAGG), purchased 7,560 shares in the company on May 19. The price per share was $5.24 for a total transaction of $39,614.
ZAGG Inc. is a worldwide mobile lifestyle and mobile accessories company with a market cap of $149.01 million and a P/S ratio of 0.54.
There were no insider buys in ZAGG in 2013 and 2015, but there were five insider purchases totaling 69,760 shares in 2014. There was one ZAGG insider sell in 2013 and 2015, totaling 78,091 and 15,000 shares of the company.
Holiday’s aforementioned purchase is one of his two transactions with ZAGG. The other transaction – 4,885 shares at an average per share price of $5.19 – increased in value by less than 5% since the purchase in November 2014. The increase in insider purchases in 2014 correlates to a drop in month-end price. 
For more information about insider transactions with the company, click here.
Zagg reported gross profit of $23.73 million in the first quarter of 2016 ended on March 31. Gross profit increased from $22.96 million reported by the company in the first quarter of the previous year. On the other hand, net income decreased from $3.2 million, or 11 cents per share, to -$3.29 million, or -12 cents per share, in the same period.
Randy Hales, president and CEO of ZAGG, commented that the first quarter of 2016 was an “extremely busy and productive quarter,” and the “integration efforts with mophie are ahead of plan.” The company’s merger with mophie was announced on March 8, 2015. Mophie was acquired for $100 million and funded with a combination of cash, $25.0 million term loan and a portion of an $85.0 million asset-backed credit facility led by KeyBank.
Twenty days following the announcement of the closing of the mophie merger, ZAGG introduced a line of InvisibleShield screen protection and mobile keyboard products for the Apple iPhone SE and 9.7-inch iPad Pro. Chris Paterson, executive vice president of ZAGG Product Development, commented that ZAGG is “focused on bringing creative product solutions to market that protect and enhance [the customer’s] mobile lifestyle. ZAGG annual revenue increased by 15.67% since 2011 and continues to follow an increasing trend line. Annual net income also follows an increasing trend line. 
In the first quarter of 2016, Paul Tudor Jones (Trades, Portfolio) increased his stake in the company while Chuck Royce (Trades, Portfolio) and Jim Simons (Trades, Portfolio) decreased their stakes in ZAGG. Jones acquired 93,535 shares of ZAGG at an average price per share of $9.58. The purchase increased his stake in the company by 236.25%. The total estimated loss of the holding since the second quarter of 2015 is 43%.
Simons reduced his stake in the company by 39.37% after increasing his stake by 2.95% in the previous quarter. The total estimated gain of the holding since the first quarter of 2014 is 10%. Royce sold out all shares after previously reducing his stake by 57.95%. The total estimated gain of the holding is 54%. For more information about guru trades with the company, click here.
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