Legg Mason (NYSE:LM) has tumbled 3.76% during the past week and has dropped 3.07% in the last 4 week period. The stocks are negative as compared to the S&P 500 for the past week with a loss of 2.61%. Legg Mason (NYSE:LM) has underperformed the index by 3.95% in the last 4 weeks. Investors should watch out for further signals and trade with caution.
Legg Mason (NYSE:LM): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $31.01 and $30.69 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $31.39. The buying momentum continued till the end and the stock did not give up its gains. It closed at $30.94, notching a gain of 0.29% for the day. The total traded volume was 4,114,194 . The stock had closed at $30.85 on the previous day.
The company shares have dropped -42.33% from its 1 Year high price. On Jun 22, 2015, the shares registered one year high at $54.11 and the one year low was seen on Feb 11, 2016. The 50-Day Moving Average price is $32.27 and the 200 Day Moving Average price is recorded at $33.41.
On the companys insider trading activities, The Securities and Exchange Commission has divulged in a Form 4 filing that the director of Legg Mason, Inc., Davidson Carol Anthony had purchased shares worth of $101,760 in a transaction dated on June 6, 2016. A total of 3,000 shares were purchased at a price of $33.92 per share. The information is based on open market trades at the market prices.Option exercises are not covered.
Many analysts have stated their opinion on the company shares. Equity analysts at the Brokerage firm Citigroup maintains its rating on Legg Mason (NYSE:LM). The rating major has initiated the coverage with buy rating on the shares. The Analysts at Citigroup raises the price target from $43 per share to $46 per share. The rating by the firm was issued on April 18, 2016. Currently the company Insiders own 1.56% of Legg Mason shares according to the proxy statements. In the past twelve weeks, the net percent change held by company insiders has changed by -10.17% . Institutional Investors own 89.79% of Legg Mason shares. During last six month period, the net percent change held by insiders has seen a change of 9.97%.
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 Companys United States mutual funds consist of two groups of mutual and closed-end funds.