Saturday, June 25, 2022

10% Owner ICAHN CARL C sale 10,634,184 shares of Newell Brands Inc. [NWL]

The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Newell Brands Inc. shares valued at $274,999,998 were sold by ICAHN CARL C on Feb 21. At $25.86 per share, ICAHN CARL C sold 10,634,184 shares. The insider’s holdings dropped to 33,070,432 shares worth approximately $604.2 million following the completion of this transaction.

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Also, Malkoski Kristine Kay purchased 400 shares, netting a total of over 9,748 in proceeds. Following the buying of shares at $24.37 each, the insider now holds 10,750 shares.

Before that, Malkoski Kristine Kay had added 200 shares to its account. In a trade valued at $4,954, the Business Unit CEO – Food bought Newell Brands Inc. shares for $24.77 each. Upon closing the transaction, the insider’s holdings increased to 200 shares, worth approximately $0.19 million.

As published in a research note from JP Morgan on March 30, 2022, Newell Brands Inc. [NWL] has been retained to an Overweight and the price target has been revised to $26. This represents a 29.73% premium over Wednesday’s closing price. Analysts at JP Morgan upgraded the stock from ‘”a Neutral”‘ to ‘”an Overweight”‘ outlook in a report released in early November. As of August 02, 2021, Wells Fargo has increased its “an Underweight” rating to a “an Equal weight” for NWL. Earlier on July 14, 2021, Raymond James upgraded its rating. Their new recommendation was “a Strong buy” for NWL stock which previously was a “a Mkt perform”.

Analyzing NWL’s Price Performance

On Wednesday, Newell Brands Inc. [NASDAQ: NWL] plunged -0.22% to $18.27. The stock’s lowest price that day was $17.84, but it reached a high of $18.43 in the same session. During the last five days, there has been a drop of approximately -1.08%. Over the course of the year, Newell Brands Inc. shares have dropped approximately -16.35%. Shares of the company reached a 52-week high of $26.45 on 02/16/22 and a 52-week low of $17.40 on 06/16/22. A 50-day SMA is recorded $21.40, while a 200-day SMA reached $22.60. Nevertheless, trading volume fell to 3.8 million shares from 5.52 million shares the previous day.

Support And Resistance Levels for Newell Brands Inc. (NWL)

According to the 24-hour chart, there is a support level at 17.93, which, if violated, would cause prices to drop to 17.59. In the upper region, resistance lies at 18.52. The next price resistance is at 18.77. RSI (Relative Strength Index) is 35.36 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.29, which suggests the price will decrease in the coming days. Percent R is at 79.38%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

Is Newell Brands Inc. subject to short interest?

Stocks of Newell Brands Inc. saw a sharp rise in short interest on Apr 28, 2022 jumping by 0.27 million shares to 17.73 million. Data from Yahoo Finance shows that the short interest on Mar 30, 2022 was 17.46 million shares. A jump of 1.52% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 6.44 of the overall float, the days-to-cover ratio (short ratio) jumped to 6.44.

Which companies own the most shares of Newell Brands Inc. (NWL)?

According to The Vanguard Group, Inc. filings, the company currently owns 41,881,214 shares, which is about 10.13% of the total NWL shares outstanding. The investor’s shares have appreciated by 485,241 from its previous 13-F filing of 41395973.0 shares. With the completion of the buy, Pzena Investment Management LLC’s stake is now worth $777,225,599. Icahn Associates Holding LLC reduced a -24.33% interest valued at $709.03 million while BlackRock Fund Advisors purchased a 767,367 stake. A total of 1,330,465 shares of Newell Brands Inc. were bought by SSgA Funds Management, Inc. during the quarter, and -1,791,106 were sold by JPMorgan Investment Management, I. In its current portfolio, Victory Capital Management, Inc. holds 13,883,107 shares valued at $297.65 million.

In terms of Newell Brands Inc. share price expectations, FactSet research, analysts set an average price target of $27.33 in the next 12 months, up nearly 44.73% from the previous closing price of $18.31. Analysts anticipate Newell Brands Inc. stock to reach $38.00 by 2022, with the lowest price target being $20.00. In spite of this, 13 analysts ranked Newell Brands Inc. stock as an Overweight at the end of 2022. On June 24, 2021, UBS assigned a price target of “a Buy” to the stock and initiated coverage with a $33.

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