Legg Mason Rises On Unusually High Volume (LM)

NEW YORK ( TheStreet) -- Legg Mason (NYSE: LM) is trading at unusually high volume Wednesday with 7.1 million shares changing hands. It is currently at four times its average daily volume and trading up $2.51 (+11.2%) at $24.89 as of 1:40 p.m. ET.

Legg Mason has a market cap of $3.17 billion and is part of the financial sector and financial services industry. Shares are down 5.5% year to date as of the close of trading on Tuesday.

Legg Mason, Inc., through its subsidiaries, operates as an asset management company worldwide. The company provides investment management and related services to institutional and individual clients; company-sponsored mutual funds; and other pooled investment vehicles. The company has a P/E ratio of 14.8, equal to the average financial services industry P/E ratio and below the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates Legg Mason as a buy. The company's strengths can be seen in multiple areas, such as its increase in net income, largely solid financial position with reasonable debt levels by most measures, attractive valuation levels and growth in earnings per share. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity. You can view the full Legg Mason Ratings Report.

See all heavy volume stocks in our stocks moving on unusual volume list or get investment ideas from our investment research center.

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