Atika Capital Management LLC Cuts Holdings in Talen Energy Corporation $TLN

Key Points

• Atika Capital Management cut its Talen Energy stake by 56.1% in the first quarter, selling 23,610 shares and leaving it with 18,490 shares worth about $5.9 million.
• Institutional ownership remains limited, with the article noting that institutions own just 0.38% of Talen Energy’s stock, though several smaller funds have recently added positions.
• Wall Street sentiment is mixed but mostly positive: Talen Energy has 10 Buy ratings and 4 Hold ratings, with a consensus target price of $472.50 and a “Moderate Buy” average rating.

Atika Capital Management LLC lowered its stake in shares of Talen Energy Corporation (NASDAQ:TLN - Free Report) by 56.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,490 shares of the utilities provider's stock after selling 23,610 shares during the period. Atika Capital Management LLC's holdings in Talen Energy were worth $5,903,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Flagship Harbor Advisors LLC bought a new position in shares of Talen Energy in the 4th quarter worth $27,000. Advisory Services Network LLC bought a new position in shares of Talen Energy during the 3rd quarter worth approximately $35,000. Northwestern Mutual Wealth Management Co. lifted its position in Talen Energy by 1,500.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 96 shares of the utilities provider's stock valued at $36,000 after acquiring an additional 90 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Talen Energy during the fourth quarter valued at approximately $39,000. Finally, Bessemer Group Inc. lifted its position in Talen Energy by 404.0% during the first quarter. Bessemer Group Inc. now owns 126 shares of the utilities provider's stock valued at $41,000 after acquiring an additional 101 shares during the last quarter. Institutional investors own 0.38% of the company's stock.

Talen Energy Trading Up 0.5%

TLN stock opened at $379.27 on Friday. Talen Energy Corporation has a 52-week low of $301.45 and a 52-week high of $451.28. The firm has a market cap of $18.17 billion, a P/E ratio of -566.07 and a beta of 1.82. The company has a quick ratio of 1.05, a current ratio of 1.25 and a debt-to-equity ratio of 6.32. The company's 50-day simple moving average is $378.72 and its 200-day simple moving average is $361.83.

Analyst Upgrades and Downgrades

TLN has been the topic of several analyst reports. Barclays lifted their price target on shares of Talen Energy from $408.00 to $411.00 and gave the stock an "overweight" rating in a report on Tuesday, May 19th. Weiss Ratings raised Talen Energy from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Thursday, May 7th. Jefferies Financial Group decreased their price target on Talen Energy from $453.00 to $422.00 and set a "hold" rating for the company in a research note on Monday. Scotiabank raised their price target on Talen Energy from $463.00 to $470.00 and gave the stock a "sector perform" rating in a report on Wednesday, July 15th. Finally, The Goldman Sachs Group began coverage on Talen Energy in a research note on Thursday, June 18th. They set a "buy" rating and a $499.00 price target on the stock. Ten equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $472.50.

Insiders Place Their Bets

In other Talen Energy news, Director Gizman I. Abbas sold 2,600 shares of the company's stock in a transaction on Monday, June 15th. The stock was sold at an average price of $380.00, for a total value of $988,000.00. Following the completion of the sale, the director directly owned 2,606 shares in the company, valued at $990,280. This represents a 49.94% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.78% of the company's stock.

Talen Energy Company Profile

Talen Energy Inc is an independent power producer that develops and operates a diversified portfolio of thermal and renewable generation facilities across the United States. The company supplies wholesale electricity and related services to utilities, large industrial customers, and power marketers, participating actively in regional markets such as PJM Interconnection and the Electric Reliability Council of Texas (ERCOT). Talen's asset base comprises a mix of natural gas-fired, coal-fired and nuclear generation, supplemented by battery storage and other flexible resources designed to support the evolving needs of the grid.

Established in December 2015 through the combination of the competitive generation businesses previously held by two major utility groups, Talen Energy was structured as a standalone, publicly traded entity on the NASDAQ stock exchange (TLN).

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