Panagora Asset Management Inc. boosted its holdings in shares of Leaf Group Ltd. (NASDAQ:LEAF) by 19.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 42,468 shares of the company’s stock after purchasing an additional 6,807 shares during the quarter. Panagora Asset Management Inc. owned approximately 0.16% of Leaf Group worth $315,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of the business. PenderFund Capital Management Ltd. boosted its position in Leaf Group by 96.8% during the second quarter. PenderFund Capital Management Ltd. now owns 985,345 shares of the company’s stock worth $6,622,000 after purchasing an additional 484,710 shares in the last quarter. Violich Capital Management Inc. purchased a new position in Leaf Group during the second quarter worth approximately $90,000. Falcon Point Capital LLC boosted its position in Leaf Group by 3.3% during the second quarter. Falcon Point Capital LLC now owns 98,634 shares of the company’s stock worth $731,000 after purchasing an additional 3,123 shares in the last quarter. Marshall Wace LLP purchased a new position in Leaf Group during the first quarter worth approximately $58,000. Finally, Punch & Associates Investment Management Inc. purchased a new position in Leaf Group during the first quarter worth approximately $5,712,000.
Separately, Cowen downgraded Leaf Group from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $10.00 to $7.00 in a research report on Tuesday, August 6th.
LEAF stock traded up $0.07 during mid-day trading on Friday, reaching $4.73. 1,259 shares of the company’s stock were exchanged, compared to its average volume of 41,632. The stock’s 50 day moving average is $4.97 and its 200 day moving average is $7.00. Leaf Group Ltd. has a 12-month low of $3.93 and a 12-month high of $10.65.
Leaf Group (NASDAQ:LEAF) last issued its quarterly earnings results on Monday, August 5th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.01). The business had revenue of $35.79 million during the quarter.
Leaf Group Profile
Leaf Group Ltd., together with its subsidiaries, operates as a diversified consumer Internet company worldwide. The company operates in two segments, Marketplaces and Media. The Marketplaces segment offers Society6.com, which provides artists with an online commerce platform to feature and sell their original art and designs on consumer products in the home décor, accessories, and apparel categories; and Deny Designs, an artist-driven home décor brand.
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