Lazard Asset Management LLC Purchases 66,280 Shares of WM Technology, Inc. (NASDAQ:MAPS)

Lazard Asset Management LLC boosted its holdings in shares of WM Technology, Inc. (NASDAQ:MAPS) by 5,607.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 67,462 shares of the company’s stock after buying an additional 66,280 shares during the period. Lazard Asset Management LLC’s holdings in WM Technology were worth $93,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of MAPS. Renaissance Technologies LLC lifted its holdings in shares of WM Technology by 101.2% during the 4th quarter. Renaissance Technologies LLC now owns 2,561,700 shares of the company’s stock worth $3,535,000 after acquiring an additional 1,288,497 shares during the period. Arrowstreet Capital Limited Partnership acquired a new position in WM Technology in the fourth quarter worth about $1,767,000. Los Angeles Capital Management LLC bought a new position in WM Technology during the fourth quarter worth about $438,000. AdvisorShares Investments LLC acquired a new stake in WM Technology during the fourth quarter valued at approximately $416,000. Finally, Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of WM Technology by 53.7% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 657,768 shares of the company’s stock valued at $908,000 after purchasing an additional 229,949 shares during the period. Institutional investors own 22.02% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on MAPS. Wall Street Zen upgraded WM Technology from a “buy” rating to a “strong-buy” rating in a research report on Thursday. Westpark Capital reissued a “buy” rating and set a $2.61 price target on shares of WM Technology in a report on Friday, May 9th.

Insiders Place Their Bets

In related news, General Counsel Brian Camire sold 373,523 shares of the firm’s stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $1.09, for a total value of $407,140.07. Following the completion of the sale, the general counsel now owns 2,024,323 shares of the company’s stock, valued at $2,206,512.07. This trade represents a 15.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Douglas Francis sold 155,897 shares of the business’s stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $1.11, for a total transaction of $173,045.67. Following the completion of the transaction, the chief executive officer now owns 8,886,513 shares of the company’s stock, valued at $9,864,029.43. This trade represents a 1.72% decrease in their position. The disclosure for this sale can be found here. Insiders own 23.64% of the company’s stock.

WM Technology Trading Down 1.0%

NASDAQ:MAPS opened at $1.01 on Monday. The stock has a market capitalization of $155.89 million, a P/E ratio of -33.66 and a beta of 1.14. WM Technology, Inc. has a 1 year low of $0.70 and a 1 year high of $1.65. The firm has a 50 day moving average of $1.13 and a 200-day moving average of $1.25.

WM Technology (NASDAQ:MAPS) last announced its earnings results on Thursday, May 8th. The company reported $0.02 EPS for the quarter, hitting the consensus estimate of $0.02. WM Technology had a negative return on equity of 1.68% and a negative net margin of 1.02%. The company had revenue of $44.61 million for the quarter, compared to analysts’ expectations of $43.00 million.

WM Technology Company Profile

WM Technology, Inc provides ecommerce and compliance software solutions to retailers and brands in cannabis market in the United States and internationally. The company offers Weedmaps marketplace that allows cannabis users to search for and browse cannabis products from retailers and brands, and reserve products from local retailers; and education and learning information to help newer consumers learn about the types of products to purchase.