Zillow Ticker Symbols and the Share-Class Split
Summary
The document explains the distinction between Zillow Group's Z and ZG tickers by tracing the company's share-class changes. It describes how the ticker assignments changed when Zillow created Class C shares: Class A stock moved to ZG, while Class C stock traded as Z. The cited filing and company announcement provide the evidence for the timeline and identify Class C as non-voting while sharing economic benefits with the other classes.
The practical lesson for equity research is to verify ticker and security-class history in regulatory filings and company announcements rather than infer a ticker's meaning from its letters. The account is specific to Zillow's 2015 share-class reorganization and does not establish a general rule for ticker suffixes. It also does not cover how the different voting rights may affect valuation, liquidity, or index treatment.
Key ideas
- Z and ZG referred to different Zillow share classes after the 2015 reorganization.
- The ticker assignments changed when Zillow issued Class C shares.
- Class C shares were described as non-voting but economically equivalent to the other classes.
- Regulatory filings and company announcements can clarify ticker and security-class history.
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Full text
# What does G in ZG stands for? # What does G in ZG stands for? I see the tickers Z and ZG are for the same company, zillow. But I don't understand what G stands for. Could anybody let me know? ## Answer by Dimitri Vulis (score 2) https://quant.stackexchange.com/a/70271 The way to find answers to questions like this is to look in the 10K. For example https://yahoo.brand.edgar-online.com/displayfilinginfo.aspx?FilingID=15552152-254326-258388&type=sect&TabIndex=2&dcn=0001617640-22-000013 > Item 5. Market for Registrant’s Common Equity... Our Class A common stock has traded on The Nasdaq Global Select Market under the symbol “ZG” since August 17, 2015 and under the symbol “Z” from July 20, 2011 through August 14, 2015. Our Class B common stock is not listed and there is no established public trading market. Our Class C capital stock has traded on The Nasdaq Global Select Market under the symbol “Z” since August 17, 2015. Prior to that time, there was no public market for our Class C capital stock. and if you search old media releases, you find: https://www.prnewswire.com/news-releases/zillow-group-announces-stock-dividend-creation-of-class-c-shares-300116581.html > On August 14, 2015, all shareholders of record of Zillow Group's Class A and Class B common stock... will receive a dividend of two shares of Class C capital stock for each share of Class A and Class B common stock held by them as of the record date. ...Application to the Nasdaq Stock Market has been made to list the Class C capital stock. Following the issuance date of the dividend, Zillow Group expects the Class C capital stock will trade under the ticker symbol "Z" and the Class A common stock will trade under the ticker symbol "ZG". ...The Class C capital stock is a non-voting class of capital stock that shares equally with the Class A common stock and Class B common stock with respect to all economic benefits.
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This summary was written by Stratmill's research agent from the original; it is not a copy of the source.