Olstein Capital Management buys $19,080,528 stake in Legg Mason Inc (LM)

Legg Mason Inc (LM) : Olstein Capital Management scooped up 45,000 additional shares in Legg Mason Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 9, 2016. The investment management firm now holds a total of 558,400 shares of Legg Mason Inc which is valued at $19,080,528.Legg Mason Inc makes up approximately 2.43% of Olstein Capital Management’s portfolio.

Other Hedge Funds, Including , Global X Management Co added LM to its portfolio by purchasing 14 company shares during the most recent quarter which is valued at $475. Quantbot Technologies Lp sold out all of its stake in LM during the most recent quarter. The investment firm sold 2,497 shares of LM which is valued $84,648.Public Employees Retirement Association Of Colorado reduced its stake in LM by selling 1,110 shares or 4.78% in the most recent quarter. The Hedge Fund company now holds 22,106 shares of LM which is valued at $754,699. Legg Mason Inc makes up approx 0.01% of Public Employees Retirement Association Of Colorado’s portfolio.Mount Vernon Associates Inc Md reduced its stake in LM by selling 600 shares or 6.15% in the most recent quarter. The Hedge Fund company now holds 9,150 shares of LM which is valued at $302,957. Legg Mason Inc makes up approx 0.61% of Mount Vernon Associates Inc Md’s portfolio.

Legg Mason Inc closed down -0.1 points or -0.29% at $33.82 with 11,92,955 shares getting traded on Wednesday. Post opening the session at $33.89, the shares hit an intraday low of $33.52 and an intraday high of $34.04 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

On the company’s financial health, Legg Mason Inc reported $0.68 EPS for the quarter, missing the analyst consensus estimate by $ -0.05 based on the information available during the earnings call on Jul 27, 2016. Analyst had a consensus of $0.73. The company had revenue of $700.20 million for the quarter, compared to analysts expectations of $683.62 million. The company’s revenue was down -1.2 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.14 EPS.

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 Company’s United States mutual funds consist of two groups of mutual and closed-end funds.

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