Saddle Road Partners buys $591,856 stake in Legg Mason Inc (LM)

Legg Mason Inc (LM) : Saddle Road Partners scooped up 5,168 additional shares in Legg Mason Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Apr 21, 2016. The investment management firm now holds a total of 16,838 shares of Legg Mason Inc which is valued at $591,856.Legg Mason Inc makes up approximately 0.13% of Saddle Road Partners’s portfolio.

Legg Mason Inc opened for trading at $34.55 and hit $35.41 on the upside on Wednesday, eventually ending the session at $35.2, with a gain of 1.73% or 0.6 points. The heightened volatility saw the trading volume jump to 15,74,026 shares. Company has a market cap of $3,791 M.

Other Hedge Funds, Including , Strs Ohio sold out all of its stake in LM during the most recent quarter. The investment firm sold 1,776 shares of LM which is valued $62,426.Oregon Public Employees Retirement Fund boosted its stake in LM in the latest quarter, The investment management firm added 560 additional shares and now holds a total of 23,690 shares of Legg Mason Inc which is valued at $807,118. Legg Mason Inc makes up approx 0.02% of Oregon Public Employees Retirement Fund’s portfolio. Integrated Investment Consultants added LM to its portfolio by purchasing 1,125 company shares during the most recent quarter which is valued at $38,329. Legg Mason Inc makes up approx 0.02% of Integrated Investment Consultants’s portfolio.Capstone Asset Management Co reduced its stake in LM by selling 3,390 shares or 14.1% in the most recent quarter. The Hedge Fund company now holds 20,645 shares of LM which is valued at $703,375. Legg Mason Inc makes up approx 0.02% of Capstone Asset Management Co’s portfolio.

On the company’s financial health, Legg Mason Inc reported $1.45 EPS for the quarter, beating the analyst consensus estimate by $ 0.43 according to the earnings call on Jan 22, 2016. Analyst had a consensus of $1.02. The company had revenue of $659.60 million for the quarter, compared to analysts expectations of $676.67 million. The company’s revenue was down -8.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.98 EPS.

Many Wall Street Analysts have commented on Legg Mason Inc. Shares were Reiterated by RBC Capital Mkts on Apr 25, 2016 to “Sector Perform” and Lowered the Price Target to $ 41 from a previous price target of $49 .Legg Mason Inc was Upgraded by Credit Suisse to ” Outperform” on Mar 16, 2016. Shares were Reiterated by Barclays on Feb 9, 2016 to “Overweight” and Lowered the Price Target to $ 38 from a previous price target of $43 .

Legg Mason Inc. is a holding company. Through its subsidiaries the Company provides investment management and related services to institutional and individual clients company-sponsored investment funds and retail separately managed account programs. The Company offers its products and services directly and through various financial intermediaries. Its investment advisory services include discretionary and non-discretionary management of separate investment accounts in numerous investment styles for institutional and individual investors. Its investment products include proprietary mutual funds ranging from money market and other liquidity products to fixed income equity and alternative funds managed in a wide variety of investment styles. The Company also offers other domestic and offshore funds to both retail and institutional investors and funds-of-hedge funds. The Company’s United States mutual funds consist of two groups of mutual and closed-end funds.

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