Rubric Capital Management Lp Sells 4,893,507 Shares of Talen Energy Corporation (NASDAQ:TLN) Stock

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

Talen Energy Price Performance

NASDAQ TLN opened at $205.85 on Wednesday. Talen Energy Corporation has a 12-month low of $58.28 and a 12-month high of $230.89. The firm’s 50 day moving average is $188.70 and its 200-day moving average is $133.94. The company has a market capitalization of $10.47 billion and a PE ratio of 11.02. The company has a quick ratio of 3.37, a current ratio of 4.10 and a debt-to-equity ratio of 1.07.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Guggenheim lifted their target price on Talen Energy from $219.00 to $246.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. UBS Group lifted their price objective on Talen Energy from $197.00 to $242.00 and gave the company a “buy” rating in a report on Friday, November 15th. Royal Bank of Canada initiated coverage on Talen Energy in a research note on Thursday, September 26th. They set an “outperform” rating and a $233.00 target price for the company. BWS Financial upped their price target on shares of Talen Energy from $145.00 to $185.00 and gave the company a “buy” rating in a report on Friday, September 6th. Finally, JPMorgan Chase & Co. started coverage on shares of Talen Energy in a report on Thursday, October 17th. They set an “overweight” rating and a $268.00 price objective on the stock. Ten equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Talen Energy has an average rating of “Buy” and a consensus price target of $222.40.

Institutional Investors Weigh In On Talen Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets acquired a new position in shares of Talen Energy during the 3rd quarter worth approximately $36,000. Spirit of America Management Corp NY acquired a new stake in shares of Talen Energy in the 3rd quarter valued at approximately $214,000. World Equity Group Inc. bought a new position in shares of Talen Energy in the third quarter valued at $237,000. Point72 Hong Kong Ltd acquired a new position in Talen Energy during the third quarter worth $257,000. Finally, Tidal Investments LLC bought a new stake in Talen Energy during the third quarter worth $304,000. 0.38% of the stock is currently owned by institutional investors and hedge funds.

About Talen Energy

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.