Price Don’t Lie: Does Leucadia National Corp. Have More Gas After Touching 52-Week High?

Price Don't Lie: Does Leucadia National Corp. Have More Gas After Touching 52 Week High?

The stock of Leucadia National Corp. (NYSE:LUK) hit a new 52-week high and has $26.81 target or 29.00% above today’s $20.78 share price. The 5 months bullish chart indicates low risk for the $7.69 billion company. The 1-year high was reported on Nov, 11 by Barchart.com. If the $26.81 price target is reached, the company will be worth $2.23B more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. The stock increased 2.87% or $0.58 on November 11, hitting $20.78. About 2.86M shares traded hands or 38.83% up from the average. Leucadia National Corp. (NYSE:LUK) has risen 28.91% since April 11, 2016 and is uptrending. It has outperformed by 22.76% the S&P500.

According to Zacks Investment Research, “LEUCADIA NATL is a diversified financial services holding company principally engaged in personal and commercial lines of property and casualty insurance, life insurance, banking and lending and manufacturing. The Company concentrates on return on investment and cash flow to build long-term shareholder value, rather than emphasizing volume or market share. Additionally, the Company continuously evaluates the retention and disposition of its existing operations and investigates possible acquisitions of new businesses in order to maximize shareholder value.”

Insitutional Activity: The institutional sentiment is 1.01 in Q2 2016. Its the same as in 2016Q1. The ratio is without change, as 49 funds sold all Leucadia National Corp. shares owned while 113 reduced positions. only 38 funds bought stakes while 126 increased positions. They now own 250.34 million shares or 1.90% less from 255.18 million shares in 2016Q1.
Guggenheim Limited Liability Corporation reported 2.06M shares or 0.11% of all its holdings. Mutual Of America Limited Com holds 0.01% or 39,285 shares in its portfolio. Janney Montgomery Scott Ltd Liability holds 22,347 shares or 0.01% of its portfolio. Cornerstone Cap Mgmt Holdings Limited Liability Com has invested 0.01% of its portfolio in Leucadia National Corp. (NYSE:LUK). Tarbox Grp accumulated 0% or 135 shares. Manchester Cap Mngmt Ltd Liability Co holds 0.01% or 3,050 shares in its portfolio. State Board Of Administration Of Florida Retirement Sys, a Florida-based fund reported 490,181 shares. Liberty Mutual Group Asset Management last reported 18,803 shares in the company. Dupont Mgmt owns 14,626 shares or 0.01% of their US portfolio. Sterneck Mngmt Llc has invested 0.73% of its portfolio in Leucadia National Corp. (NYSE:LUK). Raymond James last reported 188,740 shares in the company. Lafayette Invs has 339,128 shares for 2.39% of their US portfolio. The Germany-based Dekabank Deutsche Girozentrale has invested 0% in Leucadia National Corp. (NYSE:LUK). Huntington State Bank has 0% invested in the company for 922 shares. Moreover, West Oak Lc has 0.01% invested in Leucadia National Corp. (NYSE:LUK) for 881,606 shares.

Insider Transactions: Since June 30, 2016, the stock had 1 buying transaction, and 1 sale for $2.83 million net activity. 200,000 Leucadia National Corp. (NYSE:LUK) shares with value of $3.81 million were sold by STEINBERG JOSEPH S. $973,040 worth of Leucadia National Corp. (NYSE:LUK) was bought by CAMPBELL W PATRICK.

More recent Leucadia National Corp. (NYSE:LUK) news were published by: Fool.com which released: “Where’s the Beef? Leucadia National Corp. Seems to Have Found It” on August 08, 2016. Also Businesswire.com published the news titled: “Leucadia National Corporation Announces Third Quarter 2016 Results” on November 02, 2016. Forbes.com‘s news article titled: “Leucadia National Enters Oversold Territory (LUK)” with publication date: November 04, 2016 was also an interesting one.

LUK Company Profile

Leucadia National Corporation (Leucadia), incorporated on May 24, 1968, is a diversified holding firm focused on return on investment and long-term value creation to maximize shareholder value. The Company’s financial services businesses include Jefferies Group LLC (investment banking and capital markets), Leucadia Asset Management (asset management), Berkadia (commercial mortgage banking and servicing), FXCM (a publicly traded firm providing online foreign exchange trading), HomeFed Corporation (HomeFed) (a publicly traded real estate company) and Foursight Capital and Chrome Capital (vehicle finance). The Firm also owns and has investments in an array of other businesses, including National Beef (beef processing), HRG Group (HRG), Vitesse Energy and Juneau Energy (oil and gas exploration and development), Garcadia (automobile dealerships), Linkem (fixed wireless broadband services in Italy), Conwed Plastics and Idaho Timber (manufacturing) and Golden Queen (a gold and silver mining project).

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