Legg Mason (LM) : Traders are bullish on Legg Mason (LM) as it has outperformed the S&P 500 by a wide margin of 1.14% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 7.95%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 9.56% in the last 1 week, and is up 5.56% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock. The stock has recorded a 20-day Moving Average of 8.27% and the 50-Day Moving Average is 3.96%.
Legg Mason (NYSE:LM): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $32.29 and $32.00 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $32.81. The buying momentum continued till the end and the stock did not give up its gains. It closed at $32.66, notching a gain of 1.37% for the day. The total traded volume was 1,839,066 . The stock had closed at $32.22 on the previous day.
The company Insiders own 1.94% 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 90.05% of Legg Mason shares. During last six month period, the net percent change held by insiders has seen a change of -10.17%. In a related news, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the director of Legg Mason, Inc., Davidson Carol Anthony, had purchased 3,000 shares in a transaction dated on June 6, 2016. The transaction was executed at $33.92 per share with total amount equaling $101,760.
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.