Riverwater Partners LLC Acquires Shares of 17,428 Lazard, Inc. $LAZ

Riverwater Partners LLC bought a new stake in Lazard, Inc. (NYSE:LAZ) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 17,428 shares of the asset manager’s stock, valued at approximately $920,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of LAZ. State of Wyoming acquired a new stake in Lazard in the 2nd quarter valued at about $38,000. GAMMA Investing LLC grew its position in shares of Lazard by 57.2% in the second quarter. GAMMA Investing LLC now owns 918 shares of the asset manager’s stock valued at $44,000 after purchasing an additional 334 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in Lazard during the second quarter worth approximately $49,000. Westfuller Advisors LLC acquired a new position in Lazard during the third quarter worth $83,000. Finally, Tower Research Capital LLC TRC raised its holdings in shares of Lazard by 30.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,943 shares of the asset manager’s stock worth $93,000 after acquiring an additional 451 shares during the period. 54.80% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Lazard in a report on Monday, December 29th. Bank of America started coverage on shares of Lazard in a report on Monday. They set a “buy” rating and a $65.00 price target for the company. UBS Group started coverage on Lazard in a report on Thursday, December 11th. They issued a “neutral” rating and a $54.00 price objective on the stock. Keefe, Bruyette & Woods cut their target price on Lazard from $60.00 to $59.00 and set an “outperform” rating for the company in a research note on Thursday, January 8th. Finally, The Goldman Sachs Group set a $46.00 price target on Lazard and gave the company a “sell” rating in a research note on Thursday, October 23rd. Four investment analysts have rated the stock with a Buy rating, four have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $56.13.

Lazard Trading Up 2.1%

NYSE LAZ opened at $52.44 on Tuesday. The company has a debt-to-equity ratio of 1.92, a quick ratio of 2.58 and a current ratio of 2.58. The firm has a market cap of $5.91 billion, a price-to-earnings ratio of 20.73 and a beta of 1.38. The firm has a 50 day simple moving average of $50.71 and a 200-day simple moving average of $51.99. Lazard, Inc. has a one year low of $31.97 and a one year high of $58.07.

About Lazard

Lazard Ltd. (NYSE: LAZ) is a leading global financial advisory and asset management firm, offering a comprehensive suite of services to corporations, governments and individuals. Founded in 1848, Lazard has built a reputation for providing independent advice and innovative solutions in complex financial transactions. The firm is publicly traded on the New York Stock Exchange under the ticker symbol LAZ and maintains its headquarters in Hamilton, Bermuda.

In its Financial Advisory segment, Lazard assists clients with mergers and acquisitions, restructurings, capital structure optimization and strategic planning.