Paloma Partners Management Co Takes Position in LegalZoom.com, Inc. (NASDAQ:LZ)

Paloma Partners Management Co bought a new stake in LegalZoom.com, Inc. (NASDAQ:LZ) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor bought 12,818 shares of the company’s stock, valued at approximately $81,000.

Other hedge funds have also bought and sold shares of the company. Quarry LP increased its holdings in shares of LegalZoom.com by 318.9% in the second quarter. Quarry LP now owns 4,474 shares of the company’s stock valued at $38,000 after purchasing an additional 3,406 shares during the last quarter. Nisa Investment Advisors LLC boosted its holdings in shares of LegalZoom.com by 179.8% during the 3rd quarter. Nisa Investment Advisors LLC now owns 6,099 shares of the company’s stock worth $39,000 after buying an additional 3,919 shares during the period. Point72 DIFC Ltd acquired a new position in LegalZoom.com in the 2nd quarter valued at about $71,000. Creative Planning bought a new position in LegalZoom.com in the 3rd quarter valued at about $72,000. Finally, nVerses Capital LLC acquired a new stake in LegalZoom.com during the second quarter worth approximately $114,000. 81.99% of the stock is currently owned by institutional investors and hedge funds.

LegalZoom.com Stock Up 1.9 %

LZ stock opened at $8.20 on Friday. The company has a market cap of $1.42 billion, a PE ratio of 63.08, a price-to-earnings-growth ratio of 1.84 and a beta of 1.10. LegalZoom.com, Inc. has a 52 week low of $5.33 and a 52 week high of $13.74. The business has a 50-day simple moving average of $7.39 and a 200 day simple moving average of $7.23.

LegalZoom.com (NASDAQ:LZ) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.02. LegalZoom.com had a net margin of 3.61% and a return on equity of 32.88%. The business had revenue of $168.60 million during the quarter, compared to the consensus estimate of $167.66 million. During the same quarter last year, the firm posted $0.05 EPS. LegalZoom.com’s revenue was up .8% compared to the same quarter last year. On average, analysts anticipate that LegalZoom.com, Inc. will post 0.25 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently commented on LZ. JMP Securities reaffirmed a “market perform” rating on shares of LegalZoom.com in a research report on Friday, September 13th. Barclays upped their price objective on LegalZoom.com from $7.00 to $8.00 and gave the company an “equal weight” rating in a report on Monday, November 11th. UBS Group started coverage on LegalZoom.com in a report on Friday. They set a “neutral” rating and a $9.00 target price for the company. Citigroup upped their price target on shares of LegalZoom.com from $7.00 to $8.50 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. Finally, William Blair started coverage on shares of LegalZoom.com in a research note on Monday, September 16th. They issued a “market perform” rating for the company. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, LegalZoom.com has a consensus rating of “Hold” and an average price target of $8.79.

LegalZoom.com Company Profile

LegalZoom.com, Inc, together with its subsidiaries, operates an online platform that supports the legal, compliance, and business management needs of small businesses and consumers in the United States. The company’s platform offers business formation products, such as limited liability company, incorporation of C and S corporations, nonprofit formations, doing-business-as, corporate changes and filings, business licenses, legal forms, and beneficial ownership information reports; intellectual property products consisting of trademark and patent applications, and copyright registrations; and tax services, including business and personal tax preparations.