Shares of Legg Mason (LM) Sees Large Outflow of Money

Legg Mason (LM) : The money flow is calculated as the dollar value of composite uptick trades minus the dollar value of downtick trades, which was negative (6.64 million) in Legg Mason (LM). On Tuesday, The value of composite uptick trades was $3.6 million, whereas, the value of composite downtick trades was $10.24 million and the ratio between the two was 0.35, indicating selling on strength. Traders involved in block trades booked profits in their holdings as seen in the transactions on downticks valued at $6.96 million. The negative money flow of ($6.96 million) shows selling on strength. Legg Mason (LM) gained $0.35 intraday at $34.7 and registrered 1.02% for the week.


Also, Citigroup maintains their rating on the shares of Legg Mason (NYSE:LM). The current rating of the shares is Buy. Equity Analysts at the Firm raises the price target to $50 per share from $45 per share. The rating by the firm was issued on July 28, 2016.

Shares of Legg Mason Inc. rose by 0.49% in the last five trading days and 2.42% for the last 4 weeks. Legg Mason Inc. is up 2.06% in the last 3-month period. Year-to-Date the stock performance stands at -10.43%.

Legg Mason (NYSE:LM): During Tuesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $34.35 and $34.35 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $34.72. The buying momentum continued till the end and the stock did not give up its gains. It closed at $34.70, notching a gain of 1.02% for the day. The total traded volume was 819,500 . The stock had closed at $34.35 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.

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