Legg Mason (LM) : The consensus on Legg Mason (LM) based on 8 analyst recommendation on the company stock is 1.63, which is interpreted as a Buy recommendation. Zacks Investment Research has issued a rank of 5 which endorses a Strong Sell on the stock. However, 5 brokers have a differing view as they consider the stock to be a Strong Buy at current levels. 1 analyst believes that the stock is a Buy, which can produce decent returns in the future. 2 experts consider that the stocks earnings and the quoted price is in harmony, hence, they give it a Hold rating.
Legg Mason (LM) : 6 investment research analysts covering Legg Mason (LM) have an average price target of $39 for the near short term. The highest target price given by the Brokerage Firm to the stock is $45 and the lowest target is $35 for the short term. Analysts expect the variance to be within $3.52 of the average price.
For the current week, the company shares have a recommendation consensus of Buy. Legg Mason (NYSE:LM): During Thursdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $34.06 and $33.74 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $34.13. The buying momentum continued till the end and the stock did not give up its gains. It closed at $33.91, notching a gain of 0.03% for the day. The total traded volume was 1,056,826 . The stock had closed at $33.90 on the previous day.
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.