Analysts at Zacks Investment Research downgraded shares of Affiliated Managers Group Inc. (NYSE: AMG) from Hold to Sell in a research note to investors today. The company currently has a rating of Sell on the shares. The one-year price target of $193.00 is higher than the opening price of $146.76, causing a number of other analysts to comment on the stock in recent days. Looking back over the last year, Affiliated Managers Group Inc. stock has a high of $190.74. Important and integral digressions in the company’s actions, future outlook or industry can cause downgrades as the analysts believe that the future prospects for the security have weakened from the original recommendation.
U.S. stocks closed higher Tuesday as investors anticipate the results of meetings from the Federal Reserve and the Bank of Japan.
The Dow Jones Industrial Average DJIA, +0.05% rose 9.79 points, or less than 0.1%, to close at 18,129.96.
The S&P 500 index SPX, +0.03% advanced 0.64 points to finish at 2,139.76, led by gains in the health-care and consumer-staples sectors.
The Nasdaq Composite index COMP, +0.12% gained 6.33 points, or 0.1%, to close at 5,241.35.
Shares of Affiliated Managers Group Inc. (NYSE: AMG) opened at $146.76 yesterday trading between $142.76 and $146.76, and last traded at $142.85, which is a dip of $2.34 over the previous closing price.
Affiliated Managers Group Inc. (NYSE: AMG) currently has a market cap of 7.70B.
The stock’s average daily volume is 536,391 shares out of a total float 53,624,000 and some 450,286 shares traded hands yesterday, 106 percent below normal. Trading volume is likely to increase in the next few days as momentum traders often use increases in trading volume to identify large volume accumulation or distribution by institutional investors.
However, one day of significant buy side trading is not enough to determine a trend. As such, market traders will continue to look for institutional sponsorship as a signal that financial institutions are moving forward.
Institutional sponsorship just refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.
Professional investors such as these have teams of analysts researching thousands of stocks, so it is good corroboration to see them taking a postion in a stock you’re considering.
By identifying trends, moving averages allow traders to make those trends work in their favor and increase the number of successful trades.
With that in mind, Affiliated Managers Group Inc. (NYSE: AMG) now has a 50-day MA of $143.33 and 200-day MA of $154.29. It has traded in a 52-week range between $115.97 – 190.74 and today’s last price is 0.25% lower than the 52 week high of $190.74.
Earnings growth is an important factor to consider when investing in stocks and investors identify companies that have increased their earnings at least 25% or more over the past 3 years.
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