Legg Mason Incorporated (NYSE:LM)’s Trend Up, Especially After Decreased Shorts

September 17, 2017 - By Henry Gaston

 Legg Mason Incorporated (NYSE:LM)’s Trend Up, Especially After Decreased Shorts

Investors sentiment increased to 1.01 in Q4 2016. Its up 0.26, from 0.75 in 2016Q3. It improved, as 59 investors sold Legg Mason Inc shares while 85 reduced holdings. 56 funds opened positions while 89 raised stakes. 79.61 million shares or 2.04% more from 78.02 million shares in 2016Q3 were reported.
Ls Advsrs Limited Company accumulated 6,209 shares. Raymond James Tru Na reported 13,481 shares stake. Michigan-based State Treasurer State Of Michigan has invested 0.01% in Legg Mason Inc (NYSE:LM). Westpac Banking Corp has invested 0% in Legg Mason Inc (NYSE:LM). Wedge Capital Management L Lp Nc holds 0.3% of its portfolio in Legg Mason Inc (NYSE:LM) for 1.03M shares. Northern Tru Corporation has invested 0.01% of its portfolio in Legg Mason Inc (NYSE:LM). Diligent Invsts Ltd Liability Com holds 7,319 shares or 0.17% of its portfolio. Dimensional Fund L P owns 0.05% invested in Legg Mason Inc (NYSE:LM) for 3.19 million shares. West Coast Financial Ltd Co stated it has 130,315 shares. Fisher Asset Management Lc has invested 0.01% of its portfolio in Legg Mason Inc (NYSE:LM). Paloma Prtn Com reported 61,083 shares stake. Blackrock Advisors Limited Liability Co invested in 0% or 60,407 shares. Jacobs Levy Equity Management invested in 157,970 shares. Panagora Asset Mgmt Inc accumulated 9,073 shares. Moreover, Weaver C Barksdale & Associate has 0.02% invested in Legg Mason Inc (NYSE:LM) for 497 shares.

Since March 24, 2017, it had 0 insider buys, and 3 insider sales for $856,877 activity. Another trade for 13,325 shares valued at $464,776 was made by Johnson Terence on Friday, March 24. $65,246 worth of Legg Mason Inc (NYSE:LM) was sold by Schliessler Ursula.

The stock of Legg Mason Incorporated (NYSE:LM) registered a decrease of 9.58% in short interest. LM’s total short interest was 5.28M shares in September as published by FINRA. Its down 9.58% from 5.84M shares, reported previously. With 571,200 shares average volume, it will take short sellers 9 days to cover their LM’s short positions. The short interest to Legg Mason Incorporated’s float is 6.1%.

The stock increased 1.22% or $0.46 on September 15, reaching $38.21. About 1.24M shares traded or 61.91% up from the average. Legg Mason Inc (NYSE:LM) has risen 21.07% since September 17, 2016 and is uptrending. It has outperformed by 4.37% the S&P500.

Legg Mason, Inc. is a holding company. The company has market cap of $3.58 billion. The Firm and its subsidiaries are principally engaged in providing asset management and related financial services to individuals, institutions, firms and municipalities. It has a 15.81 P/E ratio. The Firm operates through Global Asset Management segment.

Legg Mason Inc (NYSE:LM) Ratings Coverage

Among 12 analysts covering Legg Mason Inc. (NYSE:LM), 8 have Buy rating, 1 Sell and 3 Hold. Therefore 67% are positive. Legg Mason Inc. had 45 analyst reports since August 4, 2015 according to SRatingsIntel. The company was maintained on Thursday, September 3 by Susquehanna. The rating was maintained by Jefferies with “Buy” on Thursday, June 8. The stock has “Buy” rating by Keefe Bruyette & Woods on Monday, May 29. The stock of Legg Mason Inc (NYSE:LM) has “Overweight” rating given on Monday, August 3 by Piper Jaffray. Jefferies maintained Legg Mason Inc (NYSE:LM) rating on Wednesday, September 6. Jefferies has “Buy” rating and $49.0 target. The rating was upgraded by Danske Bank on Wednesday, August 26 to “Sell”. RBC Capital Markets maintained it with “Buy” rating and $4700 target in Thursday, July 27 report. Citigroup maintained Legg Mason Inc (NYSE:LM) on Friday, August 11 with “Neutral” rating. The rating was upgraded by Liberum Capital to “Buy” on Friday, September 25. The firm earned “Overweight” rating on Thursday, August 13 by Barclays Capital.

More news for Legg Mason Inc (NYSE:LM) were recently published by: Prnewswire.com, which released: “Legg Mason Reports Assets Under Management and Flows for August 2017” on September 12, 2017. Nasdaq.com‘s article titled: “Why Is Legg Mason (LM) Down 10.3% Since the Last Earnings Report?” and published on August 29, 2017 is yet another important article.

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