Insider Selling: Franklin Resources Inc Unloads 325,000 Shares of Dynegy Stock (DYN)
Dynegy (NYSE:DYN) major shareholder Franklin Resources Inc sold 325,000 shares of the company’s stock on the open market in a transaction dated Thursday, February 6th. The stock was sold at an average price of $20.57, for a total transaction of $6,685,250.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Large shareholders that own at least 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 Imperial Capital initiated coverage on shares of Dynegy in a research note to investors on Tuesday, December 17th. They set an “outperform” rating and a $24.00 price target on the stock. Analysts at Deutsche Bank reiterated a “sell” rating on shares of Dynegy in a research note to investors on Wednesday, December 11th. They now have a $17.00 price target on the stock, up previously from $16.00. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $20.07.
Shares of Dynegy (NYSE:DYN) traded down 0.19% during mid-day trading on Friday, hitting $20.63. The stock had a trading volume of 334,158 shares. Dynegy has a 52 week low of $18.11 and a 52 week high of $25.18. The stock has a 50-day moving average of $20.69 and a 200-day moving average of $20.19. The company has a market cap of $2.065 billion and a P/E ratio of 2.52.
Dynegy Inc (NYSE:DYN) is a holding company and conducts the business operations through its subsidiaries.
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