Lazard Inc.’s recent filing unveils that its Executive Chairman JACOBS KENNETH M unloaded Company’s shares for reported $4.22 million on Sep 03 ’24. In the deal valued at $48.08 per share,87,770 shares were sold. As a result of this transaction, JACOBS KENNETH M now holds 1,553,225 shares worth roughly $77.21 million.
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Then, JACOBS KENNETH M sold 71,731 shares, generating $3,449,111 in total proceeds. Upon selling the shares at $48.08, the Executive Chairman now owns 204,279 shares.
Before that, JACOBS KENNETH M sold 29,503 shares. Lazard Inc. shares valued at $1,424,715 were divested by the Executive Chairman at a price of $48.29 per share. As a result of the transaction, JACOBS KENNETH M now holds 1,523,722 shares, worth roughly $75.74 million.
Wells Fargo initiated its Lazard Inc. [LAZ] rating to an Equal weight in a research note published on September 12, 2024; the price target was $51. Wolfe Research also remained covering LAZ and has increased its forecast on January 03, 2024 with a “an Outperform” recommendation from previously “Peer perform” rating. Goldman revised its rating on September 19, 2023. It rated LAZ as “a Sell” which previously was an “a Neutral”.
Price Performance Review of LAZ
On Tuesday, Lazard Inc. [NYSE:LAZ] saw its stock jump 1.70% to $49.71. Over the last five days, the stock has gained 6.74%. Lazard Inc. shares have risen nearly 42.84% since the year began. Nevertheless, the stocks have risen 48.39% over the past one year. While a 52-week high of $50.26 was reached on 08/30/24, a 52-week low of $25.82 was recorded on 01/02/24. SMA at 50 days reached $46.30, while 200 days put it at $40.23.
Levels Of Support And Resistance For LAZ Stock
The 24-hour chart illustrates a support level at 49.24, which if violated will result in even more drops to 48.77. On the upside, there is a resistance level at 50.04. A further resistance level may holdings at 50.38. The Relative Strength Index (RSI) on the 14-day chart is 61.03, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.83, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 8.33%. Stochastics %K at 77.69% indicates the stock is a holding.
How much short interest is there in Lazard Inc.?
A steep rise in short interest was recorded in Lazard Inc. stocks on 2024-08-30, growing by 0.21 million shares to a total of 3.4 million shares. Yahoo Finance data shows the prior-month short interest on 2024-07-31 was 3.19 million shares. There was a rise of 6.28%, which implies that there is a positive sentiment for the stock.
