Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Lazard Inc shares valued at $4,219,784 were sold by JACOBS KENNETH M on Sep 03 ’24. At $48.08 per share, JACOBS KENNETH M sold 87,770 shares. The insider’s holdings dropped to 1,553,225 shares worth approximately $85.35 million following the completion of this transaction.
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Also, JACOBS KENNETH M sold 71,731 shares, netting a total of over 3,449,111 in proceeds. Following the sale of shares at $48.08 each, the insider now holds 204,279 shares.
Before that, JACOBS KENNETH M had sold 29,503 shares from its account. In a trade valued at $1,424,715, the Executive Chairman traded Lazard Inc shares for $48.29 each. Upon closing the transaction, the insider’s holdings decreased to 29,503 shares, worth approximately $83.73 million.
As published in their initiating research note from Wells Fargo on September 12, 2024, Lazard Inc [LAZ] has been an Equal weight and the price target has been revised to $51. As of January 03, 2024, Wolfe Research has increased its “Peer perform” rating to a “an Outperform” for LAZ. Earlier on September 19, 2023, Goldman downgraded its rating. Their new recommendation was “a Sell” for LAZ stock which previously was a “a Neutral”.
Analyzing LAZ Stock Performance
During the last five days, there has been a drop of approximately -9.93%. Over the course of the year, Lazard Inc shares have jumped approximately 57.90%. Shares of the company reached a 52-week high of $61.14 on 11/06/24 and a 52-week low of $34.83 on 01/02/24. A 50-day SMA is recorded $51.26, while a 200-day SMA reached $43.57. Nevertheless, trading volume fell to 0.86 million shares from 0.7 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 54.15, which, if violated, would cause prices to drop to 53.34. In the upper region, resistance lies at 56.20. The next price resistance is at 57.44. RSI (Relative Strength Index) is 54.04 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.77, which suggests the price will increase in the coming days. Percent R is at 57.26%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
