Mackenzie Financial Corp Boosts Stock Holdings in LegalZoom.com, Inc. (NASDAQ:LZ)

Mackenzie Financial Corp increased its stake in shares of LegalZoom.com, Inc. (NASDAQ:LZ - Free Report) by 164.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 84,086 shares of the company's stock after acquiring an additional 52,236 shares during the quarter. Mackenzie Financial Corp's holdings in LegalZoom.com were worth $631,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. State of Wyoming raised its holdings in LegalZoom.com by 42.1% during the fourth quarter. State of Wyoming now owns 8,347 shares of the company's stock worth $63,000 after buying an additional 2,475 shares during the last quarter. Aigen Investment Management LP acquired a new position in LegalZoom.com during the fourth quarter worth $76,000. Olympiad Research LP acquired a new position in LegalZoom.com during the fourth quarter worth $78,000. Quantessence Capital LLC acquired a new position in LegalZoom.com during the fourth quarter worth $78,000. Finally, Sei Investments Co. acquired a new position in LegalZoom.com during the fourth quarter worth $83,000. 81.99% of the stock is owned by institutional investors.

Analysts Set New Price Targets

LZ has been the topic of several research reports. Wall Street Zen upgraded shares of LegalZoom.com from a "buy" rating to a "strong-buy" rating in a report on Friday, May 30th. JMP Securities restated a "market perform" rating on shares of LegalZoom.com in a report on Thursday, May 15th. Morgan Stanley increased their target price on shares of LegalZoom.com from $7.00 to $8.00 and gave the company an "underweight" rating in a report on Friday, May 9th. William Blair reiterated a "market perform" rating on shares of LegalZoom.com in a report on Thursday, February 27th. Finally, JPMorgan Chase & Co. increased their target price on shares of LegalZoom.com from $11.00 to $12.00 and gave the company an "overweight" rating in a report on Monday, May 19th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, LegalZoom.com has a consensus rating of "Hold" and a consensus target price of $8.64.

LegalZoom.com Stock Down 0.3%

NASDAQ LZ traded down $0.03 during trading hours on Friday, reaching $9.17. 1,430,166 shares of the company were exchanged, compared to its average volume of 1,782,772. LegalZoom.com, Inc. has a 1 year low of $5.33 and a 1 year high of $10.60. The business's 50 day simple moving average is $8.19 and its 200-day simple moving average is $8.46. The stock has a market capitalization of $1.66 billion, a P/E ratio of 70.54, a P/E/G ratio of 1.73 and a beta of 1.25.

LegalZoom.com (NASDAQ:LZ - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $0.13 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.13. LegalZoom.com had a net margin of 3.61% and a return on equity of 32.88%. The business had revenue of $183.11 million during the quarter, compared to the consensus estimate of $176.17 million. During the same quarter last year, the company posted $0.09 earnings per share. The firm's quarterly revenue was up 5.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that LegalZoom.com, Inc. will post 0.25 earnings per share for the current year.

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.