Legg Mason (LM) : Traders are bullish on Legg Mason (LM) as it has outperformed the S&P 500 by a wide margin of 2.81% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 1.4%, 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 1.36% in the last 1 week, and is up 3.2% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Legg Mason Inc. is up 7.74% in the last 3-month period. Year-to-Date the stock performance stands at -11.8%. The stock has recorded a 20-day Moving Average of 1.37% and the 50-Day Moving Average is 6.71%.
Legg Mason (NYSE:LM): The stock opened at $34.02 on Friday but the bulls could not build on the opening and the stock topped out at $34.54 for the day. The stock traded down to $33.82 during the day, due to lack of any buying support eventually closed down at $34.17 with a loss of -0.23% for the day. The stock had closed at $34.25 on the previous day. The total traded volume was 972,921 shares.
Also, Citigroup maintains its view on Legg Mason (NYSE:LM) according to the research report released by the firm to its investors. The shares have now been rated Buy by the stock experts at the ratings house. Citigroup raises the price target from $45 per share to $50 per share on Legg Mason . 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.