Leaf Group (LFGR) Shares Down 5.1%

Leaf Group Ltd (NYSE:LFGR) dropped 5.1% during trading on Thursday . The company traded as low as $6.50 and last traded at $7.45. Approximately 1,721,778 shares traded hands during mid-day trading, an increase of 1,756% from the average daily volume of 92,781 shares. The stock had previously closed at $7.85.

LFGR has been the topic of several research analyst reports. ValuEngine upgraded Leaf Group from a “sell” rating to a “hold” rating in a report on Tuesday, November 21st. Zacks Investment Research upgraded Leaf Group from a “hold” rating to a “buy” rating and set a $8.75 price objective on the stock in a report on Thursday, November 23rd. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $10.04.

The firm has a market cap of $160.08, a price-to-earnings ratio of -4.53 and a beta of 0.76.

Leaf Group (NYSE:LFGR) last released its earnings results on Tuesday, November 7th. The technology company reported ($0.33) EPS for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $33.50 million during the quarter, compared to analysts’ expectations of $30.93 million. During the same period in the previous year, the firm posted ($0.41) EPS. Leaf Group’s revenue for the quarter was up 19.2% on a year-over-year basis. equities research analysts predict that Leaf Group Ltd will post -1.53 earnings per share 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sean P. Moriarty sold 3,453 shares of the business’s stock in a transaction on 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. Insiders have sold a total of 14,135 shares of company stock valued at $126,031 over the last three months. 47.60% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LFGR. California State Teachers Retirement System acquired a new position in Leaf Group during the 2nd quarter worth $164,000. Teachers Advisors LLC acquired a new position in shares of Leaf Group during the 2nd quarter worth about $168,000. Schwab Charles Investment Management Inc. acquired a new position in shares of Leaf Group during the 2nd quarter worth about $234,000. TIAA CREF Investment Management LLC acquired a new position in shares of Leaf Group during the 2nd quarter worth about $252,000. Finally, Bank of New York Mellon Corp boosted its position in shares of 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 in the last quarter. 62.71% of the stock is owned by hedge funds and other institutional investors.

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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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