Lazard Target of Unusually High Options Trading (LAZ)

Lazard (NYSE:LAZ) was the target of unusually large options trading activity on Wednesday. Stock investors bought 1,080 put options on the company. This represents an increase of 1,795% compared to the typical daily volume of 57 put options.

LAZ has been the subject of a number of research analyst reports. Zacks Investment Research cut shares of Lazard from a “buy” rating to a “hold” rating in a report on Tuesday, April 3rd. ValuEngine cut shares of Lazard from a “strong-buy” rating to a “buy” rating in a report on Wednesday, March 7th. TheStreet cut shares of Lazard from an “a-” rating to a “c+” rating in a report on Friday, February 2nd. JMP Securities raised their price target on shares of Lazard from $63.00 to $65.00 and gave the stock a “market outperform” rating in a report on Friday, February 2nd. Finally, Nomura increased their price objective on shares of Lazard from $62.00 to $67.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $61.00.

How to Become a New Pot Stock Millionaire

In other news, COO Alexander F. Stern sold 15,160 shares of the stock in a transaction that occurred on Friday, March 2nd. The shares were sold at an average price of $53.47, for a total transaction of $810,605.20. Following the transaction, the chief operating officer now directly owns 276,886 shares in the company, valued at $14,805,094.42. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Scott D. Hoffman sold 15,000 shares of the stock in a transaction that occurred on Friday, March 2nd. The shares were sold at an average price of $52.13, for a total transaction of $781,950.00. Following the sale, the chief accounting officer now directly owns 147,341 shares of the company’s stock, valued at approximately $7,680,886.33. The disclosure for this sale can be found here. Insiders sold a total of 95,320 shares of company stock worth $5,053,854 over the last 90 days. Insiders own 2.76% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. LSV Asset Management grew its position in shares of Lazard by 2.4% in the fourth quarter. LSV Asset Management now owns 3,839,794 shares of the asset manager’s stock valued at $201,589,000 after purchasing an additional 91,021 shares during the period. TIAA CREF Investment Management LLC grew its position in shares of Lazard by 150.2% in the fourth quarter. TIAA CREF Investment Management LLC now owns 1,687,586 shares of the asset manager’s stock valued at $88,598,000 after purchasing an additional 1,013,087 shares during the period. Strs Ohio grew its position in shares of Lazard by 13.1% in the fourth quarter. Strs Ohio now owns 1,680,000 shares of the asset manager’s stock valued at $88,200,000 after purchasing an additional 194,000 shares during the period. Public Employees Retirement Association of Colorado grew its position in shares of Lazard by 2.6% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 1,673,954 shares of the asset manager’s stock valued at $87,883,000 after purchasing an additional 42,381 shares during the period. Finally, Deutsche Bank AG grew its position in shares of Lazard by 10.3% in the fourth quarter. Deutsche Bank AG now owns 1,350,662 shares of the asset manager’s stock valued at $70,907,000 after purchasing an additional 126,351 shares during the period. Institutional investors own 71.77% of the company’s stock.

LAZ stock opened at $53.22 on Friday. The firm has a market cap of $6,828.29, a P/E ratio of 13.92, a PEG ratio of 1.25 and a beta of 1.85. The company has a current ratio of 1.91, a quick ratio of 1.91 and a debt-to-equity ratio of 0.95. Lazard has a one year low of $40.50 and a one year high of $60.00.

Lazard (NYSE:LAZ) last released its quarterly earnings results on Thursday, February 1st. The asset manager reported $1.12 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.92 by $0.20. The company had revenue of $683.00 million for the quarter, compared to analyst estimates of $658.86 million. Lazard had a net margin of 9.40% and a return on equity of 38.93%. The firm’s revenue was down .3% on a year-over-year basis. During the same quarter last year, the business earned $1.13 earnings per share. research analysts predict that Lazard will post 3.99 earnings per share for the current year.

ILLEGAL ACTIVITY NOTICE: “Lazard Target of Unusually High Options Trading (LAZ)” was originally published by Week Herald and is owned by of Week Herald. If you are accessing this report on another website, it was illegally copied and republished in violation of United States & international copyright & trademark legislation. The correct version of this report can be accessed at https://weekherald.com/2018/04/13/lazard-sees-unusually-large-options-volume-laz.html.

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.

Receive News & Ratings for Lazard Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lazard and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply