Westwood Holdings Group Inc. Boosts Stake in LegalZoom.com, Inc. (NASDAQ:LZ)

Westwood Holdings Group Inc. grew its holdings in shares of LegalZoom.com, Inc. (NASDAQ:LZ) by 15.8% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,581,315 shares of the company’s stock after buying an additional 762,612 shares during the quarter. Westwood Holdings Group Inc. owned 2.97% of LegalZoom.com worth $46,827,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Technology Crossover Management IX Ltd. grew its stake in LegalZoom.com by 14.6% in the 4th quarter. Technology Crossover Management IX Ltd. now owns 16,396,313 shares of the company’s stock worth $185,278,000 after acquiring an additional 2,094,240 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in LegalZoom.com by 15.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,047,140 shares of the company’s stock worth $11,833,000 after purchasing an additional 138,702 shares during the period. Blair William & Co. IL increased its holdings in LegalZoom.com by 5.4% during the 1st quarter. Blair William & Co. IL now owns 3,836,392 shares of the company’s stock worth $51,177,000 after purchasing an additional 195,512 shares during the period. Vanguard Group Inc. lifted its holdings in shares of LegalZoom.com by 21.4% in the 4th quarter. Vanguard Group Inc. now owns 15,777,144 shares of the company’s stock worth $178,282,000 after buying an additional 2,777,206 shares during the period. Finally, Hawk Ridge Capital Management LP grew its position in shares of LegalZoom.com by 2.4% during the 4th quarter. Hawk Ridge Capital Management LP now owns 5,734,353 shares of the company’s stock worth $64,798,000 after buying an additional 135,517 shares in the last quarter. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

LegalZoom.com Price Performance

Shares of NASDAQ LZ opened at $6.62 on Friday. The stock has a market capitalization of $1.25 billion, a price-to-earnings ratio of 60.18, a PEG ratio of 2.03 and a beta of 1.10. The firm’s 50 day simple moving average is $6.39 and its 200-day simple moving average is $9.15. 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, beating analysts’ consensus estimates of $0.09 by $0.01. LegalZoom.com had a return on equity of 22.36% and a net margin of 3.10%. The firm had revenue of $177.36 million for the quarter, compared to analysts’ expectations of $172.92 million. During the same period last year, the firm earned $0.02 EPS. The company’s quarterly revenue was up 5.0% on a year-over-year basis. Analysts anticipate that LegalZoom.com, Inc. will post 0.23 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Bank of America lowered shares of LegalZoom.com from a “buy” rating to an “underperform” rating and cut their price objective for the company from $13.00 to $6.00 in a report on Wednesday, July 10th. JMP Securities reissued a “market perform” rating on shares of LegalZoom.com in a research report on Friday, September 13th. Citigroup downgraded LegalZoom.com from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $15.00 to $8.00 in a research report on Wednesday, July 10th. Jefferies Financial Group upgraded shares of LegalZoom.com from a “hold” rating to a “buy” rating and set a $8.00 target price for the company in a report on Wednesday, July 31st. Finally, William Blair began coverage on shares of LegalZoom.com in a report on Monday, September 16th. They issued a “market perform” rating on the stock. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $9.79.

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.