Legg Mason (LM) has risen sharply, recording gains of 3.21% in the past 4 weeks. However, the stock has corrected -1.32% in the past 1 week, providing a good buying opportunity on dips. On a relative basis, the stock has outperformed the S&P 500 by 2.16% in the past 4 weeks, but has underperformed the S&P 500 in the past 1 week.
The stock has recorded a 20-day Moving Average of 0.78% and the 50-Day Moving Average is 5.22%. Legg Mason (NYSE:LM): On Fridays trading session , Opening price of the stock was $33.67 with an intraday high of $33.92. The bears continued to sell at higher levels and eventually sold the stock down to an intraday low of $33.45. However, the stock managed to close at $33.71, a loss of 0.59% for the day. On the previous day, the stock had closed at $33.91. The total traded volume of the day was 879,833 shares.
The company Insiders own 1.94% of Legg Mason shares according to the proxy statements. Institutional Investors own 88.2% of Legg Mason shares. During last six month period, the net percent change held by insiders has seen a change of -10.17%. Also, Brokerage firm Citigroup maintains its rating on Legg Mason (NYSE:LM). As per the latest information, the brokerage house raises the price target to $50 per share from a prior target of $45. The shares have been rated Buy. The rating by the firm was issued on July 28, 2016.
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.