Polar Asset Management Partners Inc. Sells 269,795 Shares of Lakeland Industries, Inc. $LAKE

Key Points

• Polar Asset Management cut its Lakeland Industries stake by 83.4% in Q3, selling 269,795 shares and leaving it with 53,697 shares (about 0.55% of the company) valued at roughly $795,000; institutional investors now own 71.69% of the stock.
• Analyst sentiment is mixed with a consensus rating of Hold and a $16.50 target, after several firms trimmed price targets (e.g., DA Davidson to $14, Roth MKM to $19) while Zacks moved to a Hold from Strong Sell.
• Shares are trading weak — LAKE opened at $7.72 (down 7.8%), near its 1-year low, with a market cap of about $75.7 million and a negative trailing P/E of -1.76.

Polar Asset Management Partners Inc. trimmed its holdings in Lakeland Industries, Inc. (NASDAQ:LAKE - Free Report) by 83.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 53,697 shares of the medical instruments supplier's stock after selling 269,795 shares during the period. Polar Asset Management Partners Inc. owned 0.55% of Lakeland Industries worth $795,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. BNP Paribas Financial Markets raised its position in shares of Lakeland Industries by 87.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,795 shares of the medical instruments supplier's stock valued at $27,000 after buying an additional 839 shares in the last quarter. Police & Firemen s Retirement System of New Jersey bought a new stake in Lakeland Industries during the second quarter worth $31,000. Tripletail Wealth Management LLC bought a new stake in Lakeland Industries during the third quarter worth $49,000. Bank of America Corp DE boosted its holdings in shares of Lakeland Industries by 189.9% in the 2nd quarter. Bank of America Corp DE now owns 4,177 shares of the medical instruments supplier's stock valued at $57,000 after purchasing an additional 2,736 shares in the last quarter. Finally, JPMorgan Chase & Co. acquired a new stake in shares of Lakeland Industries in the 2nd quarter valued at $59,000. Institutional investors own 71.69% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on LAKE shares. DA Davidson reiterated a "neutral" rating and issued a $14.00 target price (down from $20.00) on shares of Lakeland Industries in a research report on Wednesday, December 10th. Roth Mkm decreased their price objective on Lakeland Industries from $27.00 to $19.00 and set a "buy" rating for the company in a report on Wednesday, December 10th. Weiss Ratings restated a "sell (d)" rating on shares of Lakeland Industries in a report on Thursday, January 22nd. UBS Group set a $14.00 price objective on Lakeland Industries in a research report on Wednesday, December 10th. Finally, Zacks Research upgraded Lakeland Industries from a "strong sell" rating to a "hold" rating in a report on Monday, February 9th. Two analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $16.50.

Lakeland Industries Trading Down 7.8%

LAKE opened at $7.72 on Friday. The company has a fifty day moving average price of $9.21 and a two-hundred day moving average price of $12.19. Lakeland Industries, Inc. has a 1-year low of $7.71 and a 1-year high of $21.19. The company has a market cap of $75.73 million, a P/E ratio of -1.76 and a beta of 1.29. The company has a current ratio of 3.83, a quick ratio of 1.48 and a debt-to-equity ratio of 0.28.

About Lakeland Industries

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.

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