Insider Selling: Franklin Resources Inc Sells 175,000 Shares of Dynegy Stock (DYN)
Dynegy (NYSE:DYN) major shareholder Franklin Resources Inc sold 175,000 shares of the stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $34.06, for a total value of $5,960,500.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.
Shares of Dynegy (NYSE:DYN) traded up 1.51% on Thursday, hitting $34.90. The stock had a trading volume of 1,206,353 shares. Dynegy has a 52-week low of $18.11 and a 52-week high of $34.40. The stock’s 50-day moving average is $30.41 and its 200-day moving average is $24.24. The company’s market cap is $3.502 billion. Dynegy also was the target of a significant decrease in short interest in May. As of May 15th, there was short interest totalling 3,619,142 shares, a decrease of 48.0% from the April 30th total of 6,955,050 shares. Based on an average trading volume of 1,896,568 shares, the short-interest ratio is presently 1.9 days. Currently, 3.9% of the shares of the company are short sold.
Dynegy (NYSE:DYN) last issued its quarterly earnings data on Wednesday, May 7th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by $0.26. The company had revenue of $762.00 million for the quarter, compared to the consensus estimate of $569.71 million. The company’s revenue for the quarter was up 139.6% on a year-over-year basis. On average, analysts predict that Dynegy will post $0.14 earnings per share for the current fiscal year.
DYN has been the subject of a number of recent research reports. Analysts at Macquarie upgraded shares of Dynegy from an “underperform” rating to a “neutral” rating in a research note on Tuesday, May 13th. They now have a $35.00 price target on the stock, up previously from $20.50. Separately, analysts at Zacks upgraded shares of Dynegy from a “neutral” rating to an “outperform” rating in a research note on Monday, May 12th. They now have a $34.20 price target on the stock. Finally, analysts at ISI Group upgraded shares of Dynegy from a “buy” rating to a “strong-buy” rating in a research note on Friday, May 2nd. They now have a $40.00 price target on the stock, up previously from $30.00. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $30.04.
Dynegy Inc (NYSE:DYN) is a holding company and conducts the business operations through its subsidiaries.
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