Leaf Group Sees Unusually Large Options Volume (LFGR)
Leaf Group Ltd. (NYSE:LFGR) was the target of unusually large options trading on Thursday. Stock traders purchased 1,412 put options on the company. This is an increase of Infinity compared to the typical volume of 0 put options.
Hedge funds and other institutional investors have recently made changes to their positions in the company. California State Teachers Retirement System purchased a new position in shares of Leaf Group in the second quarter valued at $164,000. Teachers Advisors LLC purchased a new position in shares of Leaf Group in the second quarter valued at $168,000. Schwab Charles Investment Management Inc. purchased a new position in shares of Leaf Group in the second quarter valued at $234,000. TIAA CREF Investment Management LLC purchased a new position in shares of Leaf Group in the second quarter valued at $252,000. Finally, Bank of New York Mellon Corp grew its position in shares of Leaf Group by 308.8% in the second quarter. Bank of New York Mellon Corp now owns 42,587 shares of the technology company’s stock valued at $333,000 after purchasing an additional 32,170 shares in the last quarter. Institutional investors own 63.28% of the company’s stock.
A number of research firms have issued reports on LFGR. Zacks Investment Research raised Leaf Group from a “hold” rating to a “buy” rating and set a $7.75 target price for the company in a research report on Wednesday, October 4th. B. Riley reissued a “buy” rating and issued a $10.50 target price on shares of Leaf Group in a research report on Wednesday, August 9th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $9.88.
Shares of Leaf Group (LFGR) opened at $7.50 on Friday. Leaf Group has a 52-week low of $6.05 and a 52-week high of $9.35.
Leaf Group (NYSE:LFGR) last announced its quarterly earnings results on Tuesday, November 7th. The technology company reported ($0.33) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.44) by $0.11. The company had revenue of $33.50 million during the quarter, compared to analysts’ expectations of $30.93 million. Leaf Group had a negative return on equity of 44.59% and a negative net margin of 25.98%. The firm’s quarterly revenue was up 19.2% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.41) earnings per share. equities research analysts predict that Leaf Group will post -1.75 EPS for the current fiscal year.
About Leaf Group
Leaf Group Ltd., formerly Demand Media, Inc, is diversified Internet marketplaces and media company. The Company has online media properties and marketplace platforms that enable communities of creators to reach audiences in lifestyle categories. The Company operates an online studio platform for the professional creation and distribution of content, as well as two online artist marketplaces.
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