Man Group plc Lowers Stock Position in LegalZoom.com, Inc. (NASDAQ:LZ)

Man Group plc cut its stake in shares of LegalZoom.com, Inc. (NASDAQ:LZ) by 1.0% in the 4th quarter, Holdings Channel reports. The institutional investor owned 414,296 shares of the company’s stock after selling 3,987 shares during the quarter. Man Group plc’s holdings in LegalZoom.com were worth $3,111,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in LZ. Aigen Investment Management LP acquired a new position in shares of LegalZoom.com during the 4th quarter valued at $76,000. Olympiad Research LP acquired a new position in shares of LegalZoom.com during the 4th quarter valued at $78,000. Quantessence Capital LLC acquired a new position in shares of LegalZoom.com during the 4th quarter valued at $78,000. Sei Investments Co. acquired a new position in shares of LegalZoom.com during the 4th quarter valued at $83,000. Finally, Cibc World Markets Corp acquired a new position in shares of LegalZoom.com during the 4th quarter valued at $90,000. 81.99% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

LZ has been the topic of several recent research reports. Barclays lifted their target price on shares of LegalZoom.com from $8.00 to $9.00 and gave the company an “equal weight” rating in a report on Thursday, February 27th. JPMorgan Chase & Co. boosted their price objective on shares of LegalZoom.com from $11.00 to $12.00 and gave the stock an “overweight” rating in a report on Monday. Morgan Stanley boosted their price objective on shares of LegalZoom.com from $7.00 to $8.00 and gave the stock an “underweight” rating in a report on Friday, May 9th. JMP Securities reiterated a “market perform” rating on shares of LegalZoom.com in a report on Thursday, May 15th. Finally, William Blair reiterated a “market perform” rating on shares of LegalZoom.com in a report on Thursday, February 27th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $8.64.

LegalZoom.com Stock Performance

Shares of LegalZoom.com stock opened at $9.56 on Friday. The firm has a market cap of $1.73 billion, a PE ratio of 73.54, a price-to-earnings-growth ratio of 1.73 and a beta of 1.14. The firm’s 50-day simple moving average is $8.18 and its 200-day simple moving average is $8.37. LegalZoom.com, Inc. has a 1 year low of $5.33 and a 1 year high of $10.60.

LegalZoom.com (NASDAQ:LZ) last issued its earnings results on Wednesday, May 7th. The company reported $0.13 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.13. The business had revenue of $183.11 million for the quarter, compared to analyst estimates of $176.17 million. LegalZoom.com had a net margin of 3.61% and a return on equity of 32.88%. The company’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.09 EPS. On average, equities analysts predict that LegalZoom.com, Inc. will post 0.25 earnings per share for the current year.

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.