Zillow Group, Inc. (NASDAQ:Z) was a big mover last session, as its shares rose almost 8% on the day. The move came after the company announced on Dec 5, that it intends to offer, subject to market and other conditions, $400.0 million aggregate principal amount of Convertible Senior Notes due 2021 in a private placement under the Securities Act of 1933, as amended. This breaks the recent trend of the company, as the stock is now trading above the volatile price range of $33.85 to $36.94 in the past one-month time frame.
Over the last 30 days, the company witnessed one positive estimate revision and the Zacks Consensus Estimate also moved higher, suggesting more solid trading ahead. So make sure to keep an eye on this stock going forward to see if yesterday’s jump can turn into more strength down the road.
Zillow Group currently carries a Zacks Rank #3 (Hold) while its Earnings ESP is 0.00%.
A better-ranked stock in the retail estate-operations space is PennyMac Mortgage Investment Trust (NYSE:PMT) , sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
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PENNYMAC MORTGE (PMT): Free Stock Analysis Report
ZILLOW GROUP-C (Z): Free Stock Analysis Report
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