Zacks Investment Research Downgrades 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 report issued 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 raised shares of Leaf Group from a “sell” rating to a “hold” rating in a research report on Sunday, December 31st. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $10.04.

Shares of Leaf Group (LFGR) traded up $0.10 during mid-day trading on Wednesday, reaching $9.35. 11,324 shares of the company’s stock traded hands, compared to its average volume of 30,349. Leaf Group has a 52 week low of $6.25 and a 52 week high of $10.15.

Leaf Group (NYSE:LFGR) last issued its quarterly earnings results on Tuesday, November 7th. The technology company reported ($0.33) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.44) by $0.11. Leaf Group had a negative net margin of 25.98% and a negative return on equity of 44.59%. The company had revenue of $33.50 million during the quarter, compared to analysts’ expectations of $30.93 million. During the same quarter last year, the company posted ($0.41) EPS. The firm’s revenue was up 19.2% compared to the same quarter last year. equities research analysts forecast that Leaf Group will post -1.53 earnings per share for the current fiscal year.

In other news, EVP Daniel J. Weinrot sold 4,500 shares of the firm’s stock in a transaction on Tuesday, December 26th. The shares were sold at an average price of $9.50, for a total value of $42,750.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Sean P. Moriarty sold 3,453 shares of the firm’s stock in a transaction on Monday, January 8th. The shares were sold at an average price of $9.17, for a total transaction of $31,664.01. The disclosure for this sale can be found here. Insiders sold a total of 11,344 shares of company stock worth $100,782 over the last 90 days. Company insiders own 47.60% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in LFGR. State Street Corp acquired a new stake in shares of Leaf Group in the 2nd quarter valued at $843,000. Emerald Mutual Fund Advisers Trust raised its holdings in shares of Leaf Group by 58.5% in the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 286,649 shares of the technology company’s stock valued at $1,978,000 after purchasing an additional 105,840 shares in the last quarter. Northern Trust Corp raised its holdings in shares of Leaf Group by 476.6% in the 2nd quarter. Northern Trust Corp now owns 122,614 shares of the technology company’s stock valued at $957,000 after purchasing an additional 101,348 shares in the last quarter. TIAA CREF Investment Management LLC acquired a new stake in Leaf Group during the 2nd quarter worth $252,000. Finally, Bank of New York Mellon Corp raised its stake 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 in the last quarter. Institutional investors and hedge funds own 63.43% of the company’s stock.

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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.

Analyst Recommendations for Leaf Group (NYSE:LFGR)

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