Verition Fund Management LLC Invests $251,000 in Lakeland Industries, Inc. (NASDAQ:LAKE)
Verition Fund Management LLC bought a new position in Lakeland Industries, Inc. (NASDAQ:LAKE) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 11,202 shares of the medical instruments supplier’s stock, valued at approximately $251,000. Verition Fund Management LLC owned about 0.14% of Lakeland Industries as of its most recent SEC filing.
Other institutional investors and hedge funds also recently modified their holdings of the company. Wellington Management Group LLP purchased a new position in Lakeland Industries during the first quarter worth approximately $9,132,000. BlackRock Inc. boosted its position in Lakeland Industries by 692.0% during the first quarter. BlackRock Inc. now owns 379,726 shares of the medical instruments supplier’s stock worth $5,886,000 after purchasing an additional 331,783 shares in the last quarter. Marshall Wace LLP purchased a new position in Lakeland Industries during the second quarter worth approximately $4,623,000. Balyasny Asset Management LLC purchased a new position in Lakeland Industries during the first quarter worth approximately $2,218,000. Finally, Shellback Capital LP purchased a new position in Lakeland Industries during the first quarter worth approximately $1,506,000. Hedge funds and other institutional investors own 69.27% of the company’s stock.
NASDAQ:LAKE opened at $21.16 on Wednesday. Lakeland Industries, Inc. has a one year low of $9.97 and a one year high of $28.00. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.54 and a current ratio of 6.06. The stock has a market cap of $168.86 million, a PE ratio of 8.40 and a beta of -0.18. The stock has a 50 day moving average price of $22.05 and a 200 day moving average price of $18.44.
LAKE has been the topic of several research reports. Benchmark raised their target price on Lakeland Industries from $24.00 to $31.00 in a research report on Wednesday, June 10th. ValuEngine upgraded Lakeland Industries from a “sell” rating to a “hold” rating in a research report on Monday, August 3rd. Craig Hallum raised their target price on Lakeland Industries from $22.00 to $30.00 in a research report on Wednesday, June 10th. Roth Capital raised their target price on Lakeland Industries from $18.50 to $24.00 in a research report on Wednesday, June 10th. Finally, Zacks Investment Research upgraded Lakeland Industries from a “hold” rating to a “strong-buy” rating and set a $25.00 target price on the stock in a research report on Tuesday. One analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $27.50.
In other Lakeland Industries news, Director Christopher James Ryan sold 13,400 shares of the firm’s stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $25.20, for a total transaction of $337,680.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 4.90% of the stock is owned by company insiders.
Lakeland Industries Profile
Lakeland Industries, Inc manufactures and sells a range of safety garments and accessories for the industrial and public protective clothing market in the United States and internationally. It offers limited use/disposable protective clothing, such as coveralls, laboratory coats, shirts, pants, hoods, aprons, sleeves, arm guards, caps, and smocks; high-end chemical protective suits to provide protection from highly concentrated, and hazardous chemical and biological toxins; and firefighting and heat protective apparel to protect against fire, burns, and excessive heat.
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