Legg Mason: Major Funds Cashing Shares in Third Quarter

Insiders are generally long-term investors due to restriction in making short-term profits. In contrast, wealth management institutions always have short-term investment. Wall St. Watchdog reveals information regarding the insiders and institutions which recently decreased stock shares of Legg Mason Inc. (NYSE:LM).

SEC data indicate that these institutions significantly reduced their stock shares of Legg Mason Inc. in Q3 2011:

  • CITADEL ADVISORS LLC: On 06/30/2011, held 1,192,797 shares, worth $38,944,822. On 09/30/2011, held 0 shares.
  • MANIKAY PARTNERS, LLC: On 06/30/2011, held 600,000 shares, worth $19,590,000. On 09/30/2011, held 0 shares.
  • FRESHFORD CAPITAL MANAGEMENT, LLC: On 06/30/2011, held 270,123 shares, worth $8,819,516. On 09/30/2011, held 0 shares.
  • HOMEFIELD CAPITAL, L.P.: On 06/30/2011, held 260,000 shares, worth $8,489,000. On 09/30/2011, held 0 shares.
  • HIGHBRIDGE CAPITAL MANAGEMENT LLC: On 06/30/2011, held 239,779 shares, worth $7,828,784. On 09/30/2011, held 0 shares.

About the company: Legg Mason, Inc. is a global asset management company. The Company, through its subsidiaries, provides investment management and related services to institutional and individual clients, company-sponsored mutual funds and other pooled investment vehicles.

Competitors to Watch: AllianceBernstein Holding LP (NYSE:AB), Westwood Hldgs. Group, Inc. (NYSE:WHG), Diamond Hill Investment Group, Inc. (NASDAQ:DHIL), Epoch Holding Corp (NASDAQ:EPHC), Morgan Stanley (NYSE:MS), Goldman Sachs (NYSE:GS), JP Morgan (NYSE:JPM), Citigroup (NYSE:C), Bank of America (NYSE:BAC), Pzena Investment Management, Inc. (NYSE:PZN), Artio Global Investors Inc. (NYSE:ART), Sanders Morris Harris Group (NASDAQ:SMHG), The Blackstone Group L.P. (NYSE:BX), and Affiliated Managers Group, Inc. (NYSE:AMG).

(Note: Data regarding Legg Mason Inc.’s stock holdings are sourced from whalewisdom.com. All data are assumed to be accurate.)

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