Sunday, June 26, 2022

Investing in Enact Holdings Inc. (ACT) Is Getting More Attractive

Enact Holdings Inc.’s recently made public that its Director BLESS MICHAEL A acquired Company’s shares for reported $0.11 million on May 10. In the deal valued at $22.04 per share,5,000 shares were bought. As a result of this transaction, BLESS MICHAEL A now holds 5,000 shares worth roughly $ 0.11 million.

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Then, Gould Brian bought 5,000 shares, generating $99,655 in total proceeds. Upon buying the shares at $19.93, the EVP & Chief Operations Officer now owns 6,000 shares.

Before that, Gupta Rohit bought 4,750 shares. Enact Holdings Inc. shares valued at $101,422 were divested by the President and CEO at a price of $21.35 per share. As a result of the transaction, Gupta Rohit now holds 36,750 shares, worth roughly $0.78 million.

In the meantime, Citigroup initiated its Enact Holdings Inc. [ACT] rating to a Buy in a research note published on Tuesday, October 12, 2021; the price target was $24. PT values the company’s stock at a premium of 11.62 to its Tuesday closing price. A number of analysts have revised their coverage, including Keefe Bruyette’s analysts, who began to cover the stock in mid October with a ‘”an Outperform”‘ rating. Goldman began covering ACT with a “Neutral” recommendation on October 11, 2021. Credit Suisse started covering the stock on October 11, 2021. It rated ACT as “a Neutral”.

Price Performance Review of ACT

On Tuesday, Enact Holdings Inc. [NASDAQ:ACT] saw its stock fall -1.49% to $21.21. On the same session, the stock had its day’s lowest price of $20.93, but rose to a high of $21.91. Over the last five days, the stock has lost -1.71%. Enact Holdings Inc. shares have risen nearly 2.61% since the year began. A total of 1.18 million shares were traded, compared to the trading of 1.23 million shares in the previous session.

Levels Of Support And Resistance For ACT Stock

The 24-hour chart illustrates a support level at 20.79, which if violated will result in even more drops to 20.37. On the upside, there is a resistance level at 21.77. A further resistance level may holdings at 22.33. The Relative Strength Index (RSI) on the 14-day chart is 35.70, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -1.77, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 93.74%. Stochastics %K at 10.56% indicates the stock is a buying.

Enact Holdings Inc. [ACT] – Who Are The Largest Shareholders?

In filings from Bayview Asset Management LLC, it is revealed that the company now owns 15,154,991 shares, or roughly 9.31% of the outstanding ACT shares. In other words, the investor’s shares have fallen by 0 from its previous 13-F filing of 15154991.0. Additionally, Fidelity Management & Research Co increased 43.04% of its stake after which the total value it holdings stand at $96,254,255, while Taconic Capital Advisors LP reduced 0.00% of its stake to hold $37.33 million in the firm. Over the last quarter, Redwood Capital Management LLC sold 0 shares of Enact Holdings Inc., while American Century Investment Manag sold -44,962 shares. At present, Glendon Capital Management LP is holding 1,298,718 shares valued at $31.58 million. Donald Smith & Co., Inc. owned 1,269,398 shares of the company at the time of its most recent 13F filing, worth $30.87 million.

According to FactSet, Enact Holdings Inc.’s share price will average $26.14 in the next year, based on opinions of analysts polled by the firm. This is up nearly 20.76 percent from its previous closing price of $21.53. Analysts expect Enact Holdings Inc. stock to reach the higher price of $28.00, while the lowest price estimate is $24.00. However, 8 analysts have rated ACT stock as an Overweight in their predictions for 2022. The most recent change occurred on October 11, 2021 when Credit Suisse began covering the stock and recommended ‘”a Neutral”‘ rating along with a $23 price target.

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