Magnetar Financial LLC Makes New Investment in LegalZoom.com, Inc. (NASDAQ:LZ)

Magnetar Financial LLC purchased a new position in shares of LegalZoom.com, Inc. (NASDAQ:LZ) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 13,766 shares of the company’s stock, valued at approximately $115,000.

A number of other hedge funds have also made changes to their positions in LZ. nVerses Capital LLC acquired a new position in LegalZoom.com during the 2nd quarter worth $114,000. Nomura Holdings Inc. acquired a new stake in shares of LegalZoom.com in the fourth quarter valued at about $120,000. Counterpoint Mutual Funds LLC bought a new position in shares of LegalZoom.com in the first quarter worth about $135,000. Ameritas Investment Partners Inc. lifted its position in shares of LegalZoom.com by 8.8% during the 1st quarter. Ameritas Investment Partners Inc. now owns 13,345 shares of the company’s stock worth $178,000 after purchasing an additional 1,074 shares during the last quarter. Finally, Ascent Group LLC boosted its stake in LegalZoom.com by 27.6% during the 1st quarter. Ascent Group LLC now owns 13,650 shares of the company’s stock valued at $182,000 after purchasing an additional 2,950 shares during the period. Institutional investors and hedge funds own 81.99% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on LZ shares. JPMorgan Chase & Co. dropped their price target on LegalZoom.com from $9.00 to $8.00 and set a “neutral” rating on the stock in a research report on Thursday, September 5th. Citigroup cut shares of LegalZoom.com from a “buy” rating to a “neutral” rating and cut their target price for the company from $15.00 to $8.00 in a research note on Wednesday, July 10th. Barclays lowered shares of LegalZoom.com from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, July 10th. William Blair initiated coverage on shares of LegalZoom.com in a research report on Monday, September 16th. They set a “market perform” rating for the company. Finally, JMP Securities reiterated a “market perform” rating on shares of LegalZoom.com in a research note on Friday, September 13th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, LegalZoom.com has an average rating of “Hold” and a consensus price target of $9.79.

LegalZoom.com Stock Up 1.5 %

NASDAQ:LZ opened at $6.61 on Friday. The firm has a 50-day moving average price of $6.41 and a 200 day moving average price of $8.93. The firm has a market capitalization of $1.24 billion, a PE ratio of 60.09, a price-to-earnings-growth ratio of 2.08 and a beta of 1.10. LegalZoom.com, Inc. has a 12-month low of $5.33 and a 12-month high of $13.74.

LegalZoom.com (NASDAQ:LZ) last posted its earnings results on Wednesday, August 7th. The company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.09 by $0.01. LegalZoom.com had a return on equity of 22.36% and a net margin of 3.10%. The business had revenue of $177.36 million during the quarter, compared to the consensus estimate of $172.92 million. During the same quarter last year, the company earned $0.02 EPS. LegalZoom.com’s revenue was up 5.0% on a year-over-year basis. On average, research analysts expect that LegalZoom.com, Inc. will post 0.23 EPS for the current year.

About LegalZoom.com

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.