Lakewood Capital Management LP Takes $4.18 Million Position in CS Disco, Inc. $LAW

Lakewood Capital Management LP bought a new position in shares of CS Disco, Inc. (NYSE:LAW) during the second quarter, HoldingsChannel.com reports. The institutional investor bought 1,106,531 shares of the company’s stock, valued at approximately $4,183,000.

Several other hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. bought a new position in CS Disco during the 2nd quarter worth $7,617,000. Topline Capital Management LLC grew its stake in shares of CS Disco by 66.2% in the second quarter. Topline Capital Management LLC now owns 2,965,268 shares of the company’s stock valued at $12,958,000 after acquiring an additional 1,181,046 shares in the last quarter. Norges Bank bought a new position in CS Disco during the fourth quarter worth about $4,252,000. Arrowstreet Capital Limited Partnership increased its position in CS Disco by 216.5% during the first quarter. Arrowstreet Capital Limited Partnership now owns 476,752 shares of the company’s stock worth $1,821,000 after acquiring an additional 326,115 shares during the period. Finally, GSA Capital Partners LLP acquired a new stake in CS Disco in the 2nd quarter worth about $879,000. 58.05% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

LAW has been the subject of a number of recent research reports. Weiss Ratings raised shares of CS Disco from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, July 2nd. Wall Street Zen cut shares of CS Disco from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $8.00.

CS Disco Stock Performance

NYSE:LAW opened at $4.22 on Tuesday. The stock has a fifty day moving average price of $3.97 and a 200-day moving average price of $3.92. The company has a market cap of $274.03 million, a price-to-earnings ratio of -6.70 and a beta of 1.90. CS Disco, Inc. has a fifty-two week low of $2.45 and a fifty-two week high of $9.11.

CS Disco (NYSE:LAW) last issued its quarterly earnings results on Wednesday, August 5th. The company reported ($0.06) EPS for the quarter, hitting analysts’ consensus estimates of ($0.06). CS Disco had a negative return on equity of 26.58% and a negative net margin of 24.20%.The company had revenue of $43.15 million for the quarter, compared to analysts’ expectations of $43.10 million.

Insider Buying and Selling at CS Disco

In other news, EVP Melanie Antoon sold 8,514 shares of the business’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $4.18, for a total value of $35,588.52. Following the completion of the transaction, the executive vice president directly owned 267,507 shares in the company, valued at approximately $1,118,179.26. The trade was a 3.08% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Richard Francis Crum sold 7,426 shares of the business’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $4.18, for a total transaction of $31,040.68. Following the completion of the transaction, the executive vice president owned 335,183 shares of the company’s stock, valued at $1,401,064.94. The trade was a 2.17% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 31,267 shares of company stock valued at $130,696 over the last three months. 16.80% of the stock is owned by insiders.

CS Disco Profile

CS Disco, Inc is a provider of cloud-native, artificial intelligence-driven legal applications designed to streamline e-discovery, document review and compliance processes for law firms and corporate legal departments. The Austin, Texas–based company offers a unified platform that automates labor-intensive tasks using machine learning and predictive analytics, enabling legal professionals to process, search and review large volumes of data with greater speed and accuracy.

At the core of CS Disco’s product suite is its flagship e-discovery application, which supports early case assessment, data processing, review analytics and production workflows.