Insider Selling: Dynegy Major Shareholder Unloads 30,000 Shares of Stock (DYN)
Dynegy (NYSE:DYN) major shareholder Franklin Resources Inc unloaded 30,000 shares of the company’s stock on the open market in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $20.20, for a total value of $606,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Major shareholders that own at least 10% of a company’s stock 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. The company presently has a consensus rating of “Hold” and a consensus price target of $20.97.
Shares of Dynegy (NYSE:DYN) traded down 1.70% on Thursday, hitting $19.63. 316,178 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 has a 50-day moving average of $19.57 and a 200-day moving average of $22.05. The company has a market cap of $1.964 billion and a price-to-earnings ratio of 2.33.
Dynegy (NYSE:DYN) last released its 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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