Clearline Capital LP Takes $126,000 Position in LegalZoom.com, Inc. (NASDAQ:LZ)

Clearline Capital LP bought a new position in shares of LegalZoom.com, Inc. (NASDAQ:LZ) in the 3rd quarter, Holdings Channel reports. The fund bought 19,839 shares of the company’s stock, valued at approximately $126,000.

A number of other institutional investors and hedge funds have also bought and sold shares of LZ. Paloma Partners Management Co acquired a new stake in LegalZoom.com during the 3rd quarter worth approximately $81,000. Edgestream Partners L.P. increased its position in LegalZoom.com by 313.2% during the 3rd quarter. Edgestream Partners L.P. now owns 191,857 shares of the company’s stock worth $1,218,000 after buying an additional 145,425 shares during the period. Walleye Capital LLC lifted its holdings in shares of LegalZoom.com by 450.2% during the third quarter. Walleye Capital LLC now owns 24,246 shares of the company’s stock worth $154,000 after buying an additional 19,839 shares in the last quarter. Quantbot Technologies LP bought a new stake in shares of LegalZoom.com in the third quarter valued at about $508,000. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of LegalZoom.com by 2.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,197,833 shares of the company’s stock valued at $7,606,000 after acquiring an additional 32,085 shares in the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

LegalZoom.com Stock Performance

LegalZoom.com stock opened at $7.93 on Monday. LegalZoom.com, Inc. has a 52 week low of $5.33 and a 52 week high of $13.74. The stock has a market capitalization of $1.37 billion, a P/E ratio of 61.00, a price-to-earnings-growth ratio of 1.78 and a beta of 1.06. The stock has a fifty day moving average of $7.24 and a 200-day moving average of $7.25.

LegalZoom.com (NASDAQ:LZ) last announced 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. The company had revenue of $168.60 million for the quarter, compared to analyst estimates of $167.66 million. LegalZoom.com had a net margin of 3.61% and a return on equity of 32.88%. The firm’s revenue was up .8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.05 EPS. On average, research analysts forecast that LegalZoom.com, Inc. will post 0.25 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have weighed in on LZ shares. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $8.00 price objective on shares of LegalZoom.com in a research note on Friday, November 8th. William Blair assumed coverage on shares of LegalZoom.com in a research report on Monday, September 16th. They issued a “market perform” rating for the company. JMP Securities reissued a “market perform” rating on shares of LegalZoom.com in a research report on Friday, September 13th. Citigroup raised their price objective on LegalZoom.com from $7.00 to $8.50 and gave the stock a “neutral” rating in a research note on Tuesday, November 26th. Finally, Barclays increased their target price on LegalZoom.com from $7.00 to $8.00 and gave the stock an “equal weight” rating in a report on Monday, November 11th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat, LegalZoom.com currently has an average rating of “Hold” and a consensus price target of $8.75.

LegalZoom.com 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.