Oversold Stocks To Watch: Legg Mason Inc (NYSE:LM), Waddell & Reed Financial Inc (NYSE:WDR), Primerica Inc (NYSE:PRI)

The following stocks (NYSE:LM, NYSE:WDR and NYSE:PRI) are oversold as their Relative Strength index (RSI) is below 30. Indeed, the RSI is one of the most popular technical indicators and is computed on the basis of the speed and direction of a stock’s price movement, generally in a 14-day window. The RSI value will always move between 0 and 100; the value will be 0 if the stock falls on all 14 days, and 100, if the price moves up on all the days. This implies that the RSI can also be used to identify the overbought/oversold levels. Most technical analysts consider the RSI value above 70 as ‘overbought zone’ and below 30 as ‘oversold zone’.

Legg Mason Inc (NYSE:LM)(Trend analysis) relative strength index stands at 27.95. Legg Mason Inc (NYSE:LM) stock is currently trading 17.1% below its 52-week-high, 7.42% above its 52-week-low. The 1-year stock price history is in the range of $45.68 – $59.19. Legg Mason Inc (LM) has a price to earnings ratio of 24.05 versus Financial sector average of 17.6. Legg Mason Inc is currently valued at $5.44 billion. The stock has a 50-day moving average of $52.73 and a 200-day moving average of $54.73.

There are currently fifteen analysts that cover Legg Mason Inc stock. Of those fifteen, seven have a Buy rating, seven have a Hold rating and one has a Sell rating. On a consensus basis this yields to an Overweight rating. The consensus target price stands at $58.63.

The stock closed last trading session at $49.07, down by -0.47%.

Waddell & Reed Financial Inc (NYSE:WDR)(Trend analysis) relative strength index is at the level of 28.08. The company’s shares were traded at $44.34, down by -0.76%, with a volume of 1,038,503 shares against an average volume for the last 3 months of 747,573. This represents a volume multiple of 1.39.

Waddell & Reed Financial Inc (WDR) current short interest stands at 3.12 million shares. It has decreased by 10% from the same period of last month. Around 4% of the company’s shares, which are float, are short sold. With a 10-days average volume of 0.81 million shares, the number of days required to cover the short positions stand at 3.9 days.

A recent stock analyst activity consisted of Piper Jaffray who initiated their coverage on the stock with Neutral rating on June 3. Piper Jaffray fixed their price target at $53.

Primerica Inc (NYSE:PRI)(Trend analysis) relative strength index is evolving around the 27 level. The stock closed last trading session at $42.42, up by 0.31%, with a volume of 830,953 shares compared to an average volume for the last 3 months of 425,879. The year-to-date performance of the stock stands at -9.39%.

Primerica Inc (PRI) current short interest stands at 5.61 million shares. It has increased by 27% from the same period of last month. Around 12% of the company’s shares, which are float, are short sold. With a 10-days average volume of 0.51 million shares, the number of days required to cover the short positions stand at 11 days.

Oversold Stocks To Watch: Legg Mason Inc (NYSE:LM), Waddell & Reed Financial Inc (NYSE:WDR), Primerica Inc (NYSE:PRI) was last modified: July 10th, 2015 by Jason Ford