Insider Selling: Franklin Resources Inc Sells 236,596 Shares of Dynegy Stock (DYN)
Dynegy (NYSE:DYN) major shareholder Franklin Resources Inc sold 236,596 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $19.33, for a total value of $4,573,400.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.
A number of research firms have recently commented on DYN. Analysts at Zacks upgraded shares of Dynegy (NYSE:DYN) from an “underperform” rating to a “neutral” rating in a research note to investors on Monday, September 2nd. They now have a $19.90 price target on the stock. Separately, analysts at Goldman Sachs Group Inc. reiterated a “neutral” rating on shares of Dynegy (NYSE:DYN) in a research note to investors on Friday, August 2nd.
Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $20.97.
Shares of Dynegy (NYSE:DYN) traded up 0.25% during mid-day trading on Tuesday, hitting $19.84. The stock had a trading volume of 85,611 shares. Dynegy has a 52-week low of $17.00 and a 52-week high of $25.18. The stock’s 50-day moving average is $19.64 and its 200-day moving average is $22.06. The company has a market cap of $1.985 billion and a price-to-earnings ratio of 2.31.
Dynegy (NYSE:DYN) last issued its quarterly earnings data on Thursday, August 1st. The company reported ($1.50) earnings per share for the quarter, missing the analysts’ consensus estimate of ($0.30) by $1.20. The company had revenue of $301.00 million for the quarter, compared to the consensus estimate of $362.21 million. Analysts expect that Dynegy will post $-2.74 EPS for the current fiscal year.
Dynegy Inc (NYSE:DYN) is a holding company and conducts the business operations through its subsidiaries.
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