Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Amcor plc shares valued at $440,826 were sold by Zacka Michael J on May 31. At $13.16 per share, Zacka Michael J sold 33,500 shares. The insider’s holdings dropped to 172,270 shares worth approximately $2.04 million following the completion of this transaction.
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Also, Zacka Michael J sold 846,507 shares, netting a total of over 10,713,393 in proceeds. Following the sale of shares at $12.66 each, the insider now holds 112,348 shares.
Before that, Wilson Ian had sold 54,060 shares from its account. In a trade valued at $683,589, the EXECUTIVE VICE PRESIDENT traded Amcor plc shares for $12.64 each. Upon closing the transaction, the insider’s holdings decreased to 54,060 shares, worth approximately $1.78 million.
As published in their initiating research note from Truist on March 25, 2022, Amcor plc [AMCR] has been a Hold and the price target has been revised to $12. This represents a 1.17% premium over Wednesday’s closing price. Analysts at BofA Securities downgraded the stock from ‘”a Buy”‘ to ‘”an Underperform”‘ outlook in a report released in late March. As of December 15, 2021, BofA Securities has increased its “an Underperform” rating to a “Buy” for AMCR. Earlier on August 18, 2021, Goldman downgraded its rating. Their new recommendation was “a Sell” for AMCR stock which previously was a “a Neutral”.
Analyzing AMCR’s Price Performance
On Wednesday, Amcor plc [NYSE: AMCR] plunged -0.50% to $11.86. The stock’s lowest price that day was $11.74, but it reached a high of $12.005 in the same session. During the last five days, there has been a drop of approximately -1.90%. Over the course of the year, Amcor plc shares have dropped approximately -1.25%. Shares of the company reached a 52-week high of $13.60 on 06/06/22 and a 52-week low of $10.66 on 03/08/22. A 50-day SMA is recorded $12.47, while a 200-day SMA reached $11.96. Nevertheless, trading volume fell to 7.58 million shares from 8.87 million shares the previous day.
Support And Resistance Levels for Amcor plc (AMCR)
According to the 24-hour chart, there is a support level at 11.73, which, if violated, would cause prices to drop to 11.60. In the upper region, resistance lies at 12.00. The next price resistance is at 12.13. RSI (Relative Strength Index) is 35.82 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.79, which suggests the price will decrease in the coming days. Percent R is at 86.39%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Which companies own the most shares of Amcor plc (AMCR)?
According to SSgA Funds Management, Inc. filings, the company currently owns 112,644,781 shares, which is about 7.44% of the total AMCR shares outstanding. The investor’s shares have appreciated by 10,472,157 from its previous 13-F filing of 102172624.0 shares. With the completion of the buy, BlackRock Fund Advisors’s stake is now worth $1,012,422,706. The Vanguard Group, Inc. acquire a 1.19% interest valued at $684.13 million while Geode Capital Management LLC purchased a 25,707 stake. A total of 8,370,847 shares of Amcor plc were bought by Invesco Capital Management LLC during the quarter, and 1,564,919 were bought by Charles Schwab Investment Managem. In its current portfolio, Polaris Capital Management LLC holds 16,278,372 shares valued at $213.25 million.
In terms of Amcor plc share price expectations, FactSet research, analysts set an average price target of $12.57 in the next 12 months, up nearly 4.95% from the previous closing price of $11.92. Analysts anticipate Amcor plc stock to reach $14.00 by 2022, with the lowest price target being $10.49. In spite of this, 20 analysts ranked Amcor plc stock as an Overweight at the end of 2022. On April 09, 2021, Goldman assigned a price target of “a Neutral” to the stock and initiated coverage with a $12.