Polar Asset Management Partners Inc. Sells 269,795 Shares of Lakeland Industries, Inc. $LAKE
by Mitch Edgeman · The Markets DailyPolar Asset Management Partners Inc. decreased its stake in shares of Lakeland Industries, Inc. (NASDAQ:LAKE – Free Report) by 83.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 53,697 shares of the medical instruments supplier’s stock after selling 269,795 shares during the period. Polar Asset Management Partners Inc.’s holdings in Lakeland Industries were worth $795,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Kennedy Capital Management LLC purchased a new position in shares of Lakeland Industries in the 3rd quarter worth approximately $2,287,000. Geode Capital Management LLC boosted its position in Lakeland Industries by 115.9% during the second quarter. Geode Capital Management LLC now owns 217,786 shares of the medical instruments supplier’s stock worth $2,964,000 after purchasing an additional 116,901 shares during the period. Royce & Associates LP grew its stake in Lakeland Industries by 10.0% in the 3rd quarter. Royce & Associates LP now owns 1,178,670 shares of the medical instruments supplier’s stock valued at $17,444,000 after buying an additional 107,100 shares in the last quarter. UBS Group AG raised its holdings in Lakeland Industries by 818.1% during the 3rd quarter. UBS Group AG now owns 62,595 shares of the medical instruments supplier’s stock valued at $926,000 after acquiring an additional 55,777 shares during the period. Finally, Marshall Wace LLP raised its stake in shares of Lakeland Industries by 419.4% during the 2nd quarter. Marshall Wace LLP now owns 56,700 shares of the medical instruments supplier’s stock valued at $772,000 after purchasing an additional 45,783 shares during the period. 71.69% of the stock is currently owned by hedge funds and other institutional investors.
Lakeland Industries Trading Down 7.8%
NASDAQ:LAKE opened at $7.72 on Friday. The firm has a market capitalization of $75.73 million, a P/E ratio of -1.76 and a beta of 1.29. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.83 and a quick ratio of 1.48. Lakeland Industries, Inc. has a one year low of $7.71 and a one year high of $21.19. The company’s 50-day simple moving average is $9.21 and its 200 day simple moving average is $12.19.
Analysts Set New Price Targets
Several analysts have issued reports on LAKE shares. Weiss Ratings reiterated a “sell (d)” rating on shares of Lakeland Industries in a research note on Thursday, January 22nd. Lake Street Capital dropped their target price on Lakeland Industries from $26.00 to $19.00 and set a “buy” rating for the company in a research report on Wednesday, December 10th. DA Davidson restated a “neutral” rating and set a $14.00 price target (down from $20.00) on shares of Lakeland Industries in a research report on Wednesday, December 10th. UBS Group set a $14.00 price objective on Lakeland Industries in a research note on Wednesday, December 10th. Finally, Roth Mkm cut their target price on Lakeland Industries from $27.00 to $19.00 and set a “buy” rating on the stock in a research note on Wednesday, December 10th. Two investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $16.50.
View Our Latest Stock Analysis on Lakeland Industries
Lakeland Industries Company Profile
Lakeland Industries, Inc (NASDAQ:LAKE) is a global provider of high-performance protective apparel and accessories designed to safeguard workers in industrial, healthcare, laboratory, and emergency response environments. The company’s expertise lies in producing garments that shield against chemical, biological, radiological, and thermal risks, supporting safety protocols in sectors such as oil and gas, petrochemicals, pharmaceuticals, and first responders.
The product portfolio encompasses both single-use and reusable solutions, including chemical protective coveralls, flame-resistant garments, arc flash clothing, medical isolation gowns, and cleanroom suits.
See Also
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