Marshall Wace LLP recently announced the acquisition of new stake in Lazard Growth Acquisition Corp. I (NASDAQ:LGAC). The institutional investor has increased its shareholding in the Financial company by 1.87% to 2.74 million shares with purchase of 50365.0 shares. This fresh investment now brings its stake to 4.77% valued currently at $27.51 million. In addition, Millennium Management LLC raised its holdings by 0.49 million to 2.62 million shares. And Sculptor Capital LP has lifted its position by 4.37% or 0.1 million shares – to 2.41 million shares.
With over 1.41 million Lazard Growth Acquisition Corp. I (LGAC) shares trading Tuesday and a closing price of $10.14 on the day, the dollar volume was approximately $14.28 million. The shares have shown a positive half year performance of 3.36% and its price on 01/10/23 gained nearly 0.20%. Currently, there are 71.88M common shares owned by the public and among those 57.50M shares have been available to trade.
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Insiders at the company have transacted a total of 0 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 0 of these insider trades were purchases, accounting for 0 shares. Insider sales of the common stock occurred on 0 occasions, with total insider shares sold totaling 0 shares.
The top 3 mutual fund holders in Lazard Growth Acquisition Corp. I are Merger Fund, First Trust Merger Arbitrage Fund, and Blackstone Alternative Multi Stra. Merger Fund owns 0.93 million shares of the company’s stock, all valued at over $9.3 million. The company bought an additional 0.49 million shares recently to bring their total holdings to about 1.61% of the shares outstanding. First Trust Merger Arbitrage Fund bought 0.75 million shares to see its total holdings expand to 0.91 million shares valued at over $9.12 million and representing 1.58% of the shares outstanding. Blackstone Alternative Multi Stra now owns shares totaling to 0.78% of the shares outstanding.
However, the script later moved the day high at 10.15, up 0.20%. The company’s stock has a 5-day price change of 0.20% and 1.91% over the past three months. LGAC shares are trading 0.40% year to date (YTD), with the 12-month market performance up to 4.00% higher. It has a 12-month low price of $9.69 and touched a high of $10.55 over the same period. LGAC has an average intraday trading volume of 139.42K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 0.52%, 0.97%, and 2.45% respectively.
Institutional ownership of Lazard Growth Acquisition Corp. I (NASDAQ: LGAC) shares accounts for 90.60% of the company’s 71.88M shares outstanding. Mutual fund holders own 6.45%, while other institutional holders and individual stakeholders account for 83.20% and — respectively.
It has a market capitalization of $729.17M. The stock’s trailing 12-month PE ratio is 52.00, while the earnings-per-share (ttm) stands at $0.20. Price movements for the stock have been influenced by the stock’s volatility, which stands at 0.11% over the week and 0.37% over the month.
