Insider Selling: Talen Energy Corporation (NASDAQ:TLN) Major Shareholder Sells $999,988,155.45 in Stock

Talen Energy Corporation (NASDAQ:TLN) major shareholder Rubric Capital Management Lp sold 4,893,507 shares of the company’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $204.35, for a total transaction of $999,988,155.45. Following the completion of the sale, the insider now directly owns 6,475,107 shares in the company, valued at approximately $1,323,188,115.45. The trade was a 43.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Talen Energy Stock Performance

Shares of NASDAQ:TLN opened at $195.52 on Thursday. The company’s 50 day moving average price is $190.31 and its two-hundred day moving average price is $134.77. Talen Energy Corporation has a 12-month low of $60.00 and a 12-month high of $230.89. The firm has a market cap of $9.94 billion and a PE ratio of 10.47. The company has a quick ratio of 3.37, a current ratio of 4.10 and a debt-to-equity ratio of 1.07.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on TLN shares. Daiwa Capital Markets started coverage on shares of Talen Energy in a report on Wednesday, December 4th. They issued a “buy” rating and a $248.00 target price on the stock. JPMorgan Chase & Co. started coverage on shares of Talen Energy in a report on Thursday, October 17th. They issued an “overweight” rating and a $268.00 target price on the stock. Barclays increased their price target on shares of Talen Energy from $202.00 to $245.00 and gave the company an “overweight” rating in a report on Friday, December 13th. Royal Bank of Canada started coverage on shares of Talen Energy in a report on Thursday, September 26th. They issued an “outperform” rating and a $233.00 price target on the stock. Finally, Guggenheim increased their price target on shares of Talen Energy from $219.00 to $246.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Ten analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $222.40.

Institutional Trading of Talen Energy

Several large investors have recently made changes to their positions in TLN. BNP Paribas Financial Markets acquired a new stake in Talen Energy in the third quarter valued at approximately $36,000. Spirit of America Management Corp NY bought a new position in shares of Talen Energy during the third quarter valued at $214,000. World Equity Group Inc. bought a new position in shares of Talen Energy during the third quarter valued at $237,000. Point72 Hong Kong Ltd bought a new position in shares of Talen Energy during the third quarter valued at $257,000. Finally, Tidal Investments LLC bought a new position in shares of Talen Energy during the third quarter valued at $304,000. Institutional investors and hedge funds own 0.38% of the company’s stock.

Talen Energy Company Profile

Talen Energy Corporation is a U.S.-based energy and power generation company. The Company owns or controls approximately 16,000 megawatts of capacity in wholesale power markets, principally in the Northeast, Mid-Atlantic and Southwest regions of the United States. The Company generates and sells electricity, capacity and related products from power plants that use fuel sources, such as nuclear, natural gas and coal.