Legg Mason Inc (NYSE:LM).
Raymond James & Associates says it lowered its stake in Legg Mason Inc stock by 10,015 shares as reported in a filing on 11/15/2017. Its stake was worth $28,183,000 an increase of 1.6% according to the filing.
Raymond James & Associates isn’t the only one who has changed their investment in LM. Dimensional Fund Advisors Lp added to its stake by buying 81,952 shares an increase of 2.5% as of 09/30/2017. Dimensional Fund Advisors Lp currently owns 3,327,388 shares with a value of $130,800,000. The total value of its holdings increased 5.6%. Commonwealth Of Pennsylvania Public School Empls Retrmt SYS expanded its investment by buying 247 shares an increase of 2.0% in the quarter. Commonwealth Of Pennsylvania Public School Empls Retrmt SYS owns 12,698 shares valued at $499,000. The value of the position overall is up by 5.1%.
Great Lakes Advisors, LLC trimmed its position by selling 79,769 shares a decrease of 29.7% from 06/30/2017 to 09/30/2017. Great Lakes Advisors, LLC now controls 188,696 shares worth $7,418,000. The value of the position overall is down by 27.6%.
Equity analyst Credit Suisse Group raised the price target on October 26 changing the price objective from $48.00 to $49.00 with a rating of “Outperform”. On October 18, 2017 Royal Bank Of Canada released a research note on LM stating a rating of “Buy” and projecting a price target of $47.00.
Deutsche Bank AG updated coverage of LM with a rating of “Buy”.
On September 29 Keefe, Bruyette & Woods made no change to the stock rating of “Buy” projecting a price of $47.00. On September 8 analysts at Barclays PLC updated its forecast on LM giving it an initial rating of “Equal Weight”.
The company is so far trading up since yesterday’s close of 37.93. Legg Mason Inc’s P/E ratio is 15.03 and the market value is 3.54B. As of the last earnings report the EPS was $2.56 with 91.89M shares now outstanding.
Investors are more bearish on Legg Mason Inc of late if you take into consideration the change in short interest. The stock realized a rise in short interest of 7.50% as of October 13, 2017 from the last reporting period. Short interest increased 436,159 over that timeframe. With short interest at 6,253,936 and short average daily volume at 719,625, days to cover is 9.0 and the percentage of shorted shares is 0.07% as of October 13.