Insider Selling: Franklin Resources Inc Unloads 15,000 Shares of Dynegy Stock (DYN)
Dynegy (NYSE:DYN) major shareholder Franklin Resources Inc unloaded 15,000 shares of Dynegy stock on the open market in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $19.88, for a total transaction of $298,200.00. The sale was disclosed in a 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 sales and purchases 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 analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $20.97.
Dynegy (NYSE:DYN) traded up 0.45% on Wednesday, hitting $19.97. 507,479 shares of the company’s stock traded hands. Dynegy has a one year low of $17.00 and a one year high of $25.18. The stock’s 50-day moving average is $19.60 and its 200-day moving average is $22.06. The company has a market cap of $1.998 billion and a P/E ratio of 2.32.
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. On average, analysts predict that Dynegy will post $-2.74 earnings per share 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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