What’s Propelling Legg Mason Incorporated (NYSE:LM) After Lower Shorts Reported?

September 17, 2017 - By Louis Casey

 What’s Propelling Legg Mason Incorporated (NYSE:LM) After Lower Shorts Reported?

Investors sentiment increased to 1.01 in 2016 Q4. Its up 0.26, from 0.75 in 2016Q3. It is positive, 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.
Nj State Employees Deferred Compensation Plan holds 0.05% or 9,000 shares. Synovus Financial accumulated 0% or 634 shares. Great West Life Assurance Can reported 51,352 shares or 0% of all its holdings. Employees Retirement Association Of Colorado has invested 0% of its portfolio in Legg Mason Inc (NYSE:LM). Moreover, Mutual Of America Cap Mngmt Ltd has 0.04% invested in Legg Mason Inc (NYSE:LM). Oregon Employees Retirement Fund, Oregon-based fund reported 40,812 shares. Tudor Inv Et Al has invested 0.06% in Legg Mason Inc (NYSE:LM). Da Davidson stated it has 2,750 shares or 0% of all its holdings. First Personal Finance Svcs invested in 909 shares. Stevens Cap Lp holds 0.07% or 59,417 shares. Janney Montgomery Scott Limited Liability reported 0.01% in Legg Mason Inc (NYSE:LM). Diligent Invsts Limited Liability Corporation has 0.17% invested in Legg Mason Inc (NYSE:LM) for 7,319 shares. Louisiana State Employees Retirement System reported 22,200 shares stake. Profund Advsrs Lc owns 17,971 shares. The Switzerland-based Zurcher Kantonalbank (Zurich Cantonalbank) has invested 0% in Legg Mason Inc (NYSE:LM).

Since March 24, 2017, it had 0 buys, and 3 insider sales for $856,877 activity. Shares for $464,776 were sold by Johnson Terence on Friday, March 24. Schliessler Ursula had sold 1,745 shares worth $65,246.

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 stock of Legg Mason Inc (NYSE:LM) earned “Buy” rating by Keefe Bruyette & Woods on Sunday, August 27. The firm has “Outperform” rating given on Friday, October 14 by Wood. The company was initiated on Friday, September 8 by Barclays Capital. The firm earned “Neutral” rating on Thursday, July 13 by Citigroup. On Monday, August 3 the stock rating was maintained by RBC Capital Markets with “Sector Perform”. Credit Suisse upgraded Legg Mason Inc (NYSE:LM) on Wednesday, March 16 to “Outperform” rating. Jefferies maintained the stock with “Buy” rating in Monday, July 11 report. The rating was maintained by Jefferies with “Buy” on Tuesday, March 29. Piper Jaffray maintained Legg Mason Inc (NYSE:LM) rating on Monday, August 3. Piper Jaffray has “Overweight” rating and $65 target. The stock of Legg Mason Inc (NYSE:LM) has “Buy” rating given on Monday, May 29 by Keefe Bruyette & Woods.

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

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