The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Lazard Inc. shares valued at $9,361,989 were sold by JACOBS KENNETH M on Jul 16 ’24. At $45.23 per share, JACOBS KENNETH M sold 207,000 shares. The insider’s holdings dropped to 1,729,722 shares worth approximately $83.86 million following the completion of this transaction.
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Also, JACOBS KENNETH M sold 127,000 shares, netting a total of over 5,743,829 in proceeds. Following the sale of shares at $45.23 each, the insider now holds 330,279 shares.
Before that, JACOBS KENNETH M had sold 46,107 shares from its account. In a trade valued at $1,852,824, the Executive Chairman traded Lazard Inc. shares for $40.19 each. Upon closing the transaction, the insider’s holdings decreased to 46,107 shares, worth approximately $93.89 million.
Analysts at Wolfe Research upgraded the stock from ‘”a Peer perform”‘ to ‘”an Outperform”‘ outlook in a report released in early January. As of September 19, 2023, Goldman has decreased its “Neutral” rating to a “Sell” for LAZ. Earlier on July 13, 2023, Keefe Bruyette upgraded its rating. Their new recommendation was “a Mkt perform” for LAZ stock which previously was a “an Underperform”.
Analyzing LAZ Stock Performance
During the last five days, there has been a surge of approximately 7.71%. Over the course of the year, Lazard Inc. shares have jumped approximately 39.31%. Shares of the company reached a 52-week high of $48.64 on 07/25/24 and a 52-week low of $34.83 on 01/02/24. A 50-day SMA is recorded $40.16, while a 200-day SMA reached $36.74. Nevertheless, trading volume fell to 2.27 million shares from 1.21 million shares the previous day.
Support And Resistance Levels for Lazard Inc. (LAZ)
According to the 24-hour chart, there is a support level at 45.61, which, if violated, would cause prices to drop to 42.74. In the upper region, resistance lies at 49.99. The next price resistance is at 51.51. RSI (Relative Strength Index) is 76.39 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.97, which suggests the price will increase in the coming days. Percent R is at 1.69%, indicating bullish price movement. Stochastics%K at holding indicates that the stock is to be held.
