Zacks Investment Research Lowers Leaf Group (LFGR) to Hold
Leaf Group (NYSE:LFGR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.
According to Zacks, “Leaf Group Ltd. is an internet company. It builds platforms across marketplace which consists of Society6 and Saatchi Art and media which include Livestrong.com and eHow properties. Leaf Group Ltd., formerly known as Demand Media Inc., is headquartered in Santa Monica, California. “
Separately, ValuEngine upgraded Leaf Group from a “sell” rating to a “hold” rating in a report on Tuesday, November 21st. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $10.04.
Leaf Group (NYSE:LFGR) opened at $9.30 on Wednesday. Leaf Group has a fifty-two week low of $6.25 and a fifty-two week high of $10.15. The stock has a market capitalization of $192.46, a price-to-earnings ratio of -5.85 and a beta of 0.44.
Leaf Group (NYSE:LFGR) last announced its quarterly earnings results on Tuesday, November 7th. The technology company reported ($0.33) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.44) by $0.11. Leaf Group had a negative return on equity of 44.59% and a negative net margin of 25.98%. The business had revenue of $33.50 million for the quarter, compared to the consensus estimate of $30.93 million. During the same period last year, the business posted ($0.41) EPS. The business’s revenue was up 19.2% compared to the same quarter last year. analysts expect that Leaf Group will post -1.53 EPS for the current year.
In related news, EVP Daniel J. Weinrot sold 4,500 shares of the business’s stock in a transaction on Tuesday, December 26th. The stock was sold at an average price of $9.50, for a total transaction of $42,750.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Sean P. Moriarty sold 3,453 shares of Leaf Group stock in a transaction dated Monday, January 8th. The stock was sold at an average price of $9.17, for a total value of $31,664.01. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 11,344 shares of company stock worth $100,782. 47.60% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently modified their holdings of the business. California State Teachers Retirement System acquired a new stake in Leaf Group during the 2nd quarter worth about $164,000. Teachers Advisors LLC acquired a new stake in Leaf Group during the 2nd quarter worth about $168,000. Schwab Charles Investment Management Inc. acquired a new stake in Leaf Group during the 2nd quarter worth about $234,000. TIAA CREF Investment Management LLC acquired a new stake in Leaf Group during the 2nd quarter worth about $252,000. Finally, Bank of New York Mellon Corp lifted its position in Leaf Group by 308.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 42,587 shares of the technology company’s stock worth $333,000 after acquiring an additional 32,170 shares during the period. 63.43% of the stock is owned by institutional investors.
Leaf Group Company Profile
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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