Seven Eight Capital LP bought a new position in shares of Lazard Ltd (NYSE:LAZ) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 40,700 shares of the asset manager’s stock, valued at approximately $1,959,000.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Summit Trail Advisors LLC grew its stake in shares of Lazard by 4,755.8% during the first quarter. Summit Trail Advisors LLC now owns 113,965 shares of the asset manager’s stock worth $114,000 after buying an additional 111,618 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of Lazard during the second quarter worth $130,000. Contravisory Investment Management Inc. bought a new stake in shares of Lazard during the second quarter worth $134,000. Cerebellum GP LLC grew its stake in shares of Lazard by 82.7% during the second quarter. Cerebellum GP LLC now owns 3,544 shares of the asset manager’s stock worth $173,000 after buying an additional 1,604 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in shares of Lazard during the second quarter worth $208,000. 72.06% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts have weighed in on the stock. Zacks Investment Research raised shares of Lazard from a “hold” rating to a “buy” rating and set a $60.00 target price on the stock in a research note on Tuesday, July 31st. TheStreet cut shares of Lazard from a “b” rating to a “c+” rating in a research note on Friday, July 27th. Wolfe Research started coverage on shares of Lazard in a report on Tuesday, September 25th. They set a “market perform” rating on the stock. Finally, ValuEngine lowered shares of Lazard from a “hold” rating to a “sell” rating in a report on Thursday, October 18th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company. Lazard currently has an average rating of “Hold” and an average target price of $60.25.
Shares of NYSE:LAZ opened at $41.48 on Tuesday. The firm has a market cap of $5.44 billion, a PE ratio of 9.69, a price-to-earnings-growth ratio of 1.06 and a beta of 1.80. The company has a current ratio of 1.78, a quick ratio of 1.78 and a debt-to-equity ratio of 1.07. Lazard Ltd has a 52 week low of $40.77 and a 52 week high of $60.00.
Lazard (NYSE:LAZ) last issued its quarterly earnings results on Thursday, July 26th. The asset manager reported $1.10 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.18. The company had revenue of $741.00 million for the quarter, compared to analyst estimates of $663.44 million. Lazard had a net margin of 11.58% and a return on equity of 47.49%. Lazard’s revenue was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.98 earnings per share. Equities analysts anticipate that Lazard Ltd will post 4.43 earnings per share for the current year.
Lazard Company Profile
Lazard Ltd, together with its subsidiaries, operates as a financial advisory and asset management firm worldwide. Its Financial Advisory segment offers various financial advisory services regarding mergers and acquisitions and other strategic matters, restructurings, capital structure, capital raising, shareholder advisory, and various other financial matters.
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