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. Belden Inc. shares valued at $501,031 were purchased by Chand Ashish on Jun 17. At $50.36 per share, Chand Ashish acquired 9,949 shares. The insider’s holdings grew to 55,772 shares worth approximately $2.79 million following the completion of this transaction.
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Also, KLEIN JONATHAN C sold 4,000 shares, netting a total of over 219,073 in proceeds. Following the sale of shares at $54.77 each, the insider now holds 13,398 shares.
Before that, Chand Ashish had added 4,345 shares to its account. In a trade valued at $249,491, the EVP, Industrial Automation bought Belden Inc. shares for $57.42 each. Upon closing the transaction, the insider’s holdings increased to 4,345 shares, worth approximately $2.09 million.
As published in a research note from Goldman on April 20, 2022, Belden Inc. [BDC] has been rated up from a Sell to a Neutral and the price target has been revised to $55 from $57. This represents a 9.15% premium over Wednesday’s closing price. Analysts at Canaccord Genuity upgraded the stock from ‘”a Hold”‘ to ‘”a Buy”‘ outlook in a report released in early September. As of May 07, 2021, Stifel has increased its “Hold” rating to a “Buy” for BDC. Earlier on April 27, 2020, Loop Capital initiated its rating. Their recommendation was “a Buy” for BDC stock.
Analyzing BDC’s Price Performance
On Wednesday, Belden Inc. [NYSE: BDC] rose 0.54% to $49.97. The stock’s lowest price that day was $49.58, but it reached a high of $51.015 in the same session. During the last five days, there has been a drop of approximately -5.70%. Over the course of the year, Belden Inc. shares have dropped approximately -23.98%. Shares of the company reached a 52-week high of $67.45 on 01/03/22 and a 52-week low of $47.89 on 06/16/22. A 50-day SMA is recorded $53.79, while a 200-day SMA reached $58.14. Nevertheless, trading volume fell to 0.41 million shares from 0.32 million shares the previous day.
Support And Resistance Levels for Belden Inc. (BDC)
According to the 24-hour chart, there is a support level at 49.36, which, if violated, would cause prices to drop to 48.75. In the upper region, resistance lies at 50.80. The next price resistance is at 51.62. RSI (Relative Strength Index) is 38.46 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -4.62, which suggests the price will decrease in the coming days. Percent R is at 82.10%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is Belden Inc. subject to short interest?
Stocks of Belden Inc. saw a sharp rise in short interest on Apr 28, 2022 jumping by 80000.0 shares to 1.19 million. Data from Yahoo Finance shows that the short interest on Mar 30, 2022 was 1.11 million shares. A jump of 6.72% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 4.19 of the overall float, the days-to-cover ratio (short ratio) jumped to 4.19.
Which companies own the most shares of Belden Inc. (BDC)?
According to BlackRock Fund Advisors filings, the company currently owns 4,463,667 shares, which is about 10.09% of the total BDC shares outstanding. The investor’s shares have plunged by -64,174 from its previous 13-F filing of 4527841.0 shares. With the completion of the buy, The Vanguard Group, Inc.’s stake is now worth $249,262,956. T. Rowe Price Associates, Inc. reduced a -9.33% interest valued at $186.89 million while Victory Capital Management, Inc. purchased a 233,574 stake. A total of -416,851 shares of Belden Inc. were bought by AllianceBernstein LP during the quarter, and 183,829 were bought by Pzena Investment Management LLC. In its current portfolio, Boston Partners Global Investors, holds 1,464,765 shares valued at $84.34 million.
In terms of Belden Inc. share price expectations, FactSet research, analysts set an average price target of $74.67 in the next 12 months, up nearly 46.88% from the previous closing price of $49.70. Analysts anticipate Belden Inc. stock to reach $88.00 by 2022, with the lowest price target being $59.00. In spite of this, 7 analysts ranked Belden Inc. stock as an Overweight at the end of 2022. On April 21, 2020, Stifel assigned a price target of “a Hold” to the stock and downgraded coverage with a $34.50.