Invesco Ltd. (IVZ - Free Report) was a big mover last session, as the company saw its shares rise more than 5% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This breaks the recent trend of the company, as the stock is now trading above the volatile price range of $25.46 to $27.23 in the past one-month time frame.
The move came after the company’s subsidiary, Invesco Advisers, Inc. has approved a Managed Distribution Plan for the Trust.
The company has seen six negative estimate revisions in the past month, while its Zacks Consensus Estimate has also moved lower over the same time frame, suggesting there may be trouble down the road. So make sure to keep an eye on this stock going forward, to see if this recent move higher can last.
Invesco currently has a Zacks Rank #5 (Strong Sell), while its Earnings ESPis 0.00%.
A better-ranked stock in the Financial - Investment Management industry is Victory Capital Holdings, Inc. (VCTR - Free Report) , which currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
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