Sunday, June 26, 2022

Director ValueAct Holdings, L.P. sold 5,000,000 shares of LKQ Corporation [LKQ]

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. LKQ Corporation shares valued at $251,750,000 were sold by ValueAct Holdings, L.P. on May 17. At $50.35 per share, ValueAct Holdings, L.P. sold 5,000,000 shares. The insider’s holdings dropped to 12,552,751 shares worth approximately $604.92 million following the completion of this transaction.


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Also, Berard Patrick sold 702 shares, netting a total of over 34,904 in proceeds. Following the sale of shares at $49.72 each, the insider now holds 11,806 shares.

Before that, Hanser Robert M. had sold 702 shares from its account. In a trade valued at $34,904, the Director traded LKQ Corporation shares for $49.72 each. Upon closing the transaction, the insider’s holdings decreased to 702 shares, worth approximately $0.95 million.

As published in a research note from Barrington Research on April 28, 2022, LKQ Corporation [LKQ] has been rated up from a Mkt perform to an Outperform. Analysts at Barrington Research downgraded the stock from ‘”an Outperform”‘ to ‘”a Mkt perform”‘ outlook in a report released in mid February. As of August 02, 2021, Raymond James has increased its “Mkt perform” rating to a “an Outperform” for LKQ. Earlier on June 08, 2020, Northcoast downgraded its rating. Their new recommendation was “a Neutral” for LKQ stock which previously was a “a Buy”.

Analyzing LKQ’s Price Performance

On Wednesday, LKQ Corporation [NASDAQ: LKQ] rose 0.88% to $48.19. The stock’s lowest price that day was $47.27, but it reached a high of $48.505 in the same session. During the last five days, there has been a drop of approximately -0.68%. Over the course of the year, LKQ Corporation shares have dropped approximately -19.72%. Shares of the company reached a 52-week high of $60.43 on 01/03/22 and a 52-week low of $42.36 on 03/08/22. A 50-day SMA is recorded $49.73, while a 200-day SMA reached $52.30. Nevertheless, trading volume fell to 1.52 million shares from 1.69 million shares the previous day.

Support And Resistance Levels for LKQ Corporation (LKQ)

According to the 24-hour chart, there is a support level at 47.47, which, if violated, would cause prices to drop to 46.75. In the upper region, resistance lies at 48.71. The next price resistance is at 49.22. RSI (Relative Strength Index) is 45.07 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -2.00, which suggests the price will decrease in the coming days. Percent R is at 71.22%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.

Is LKQ Corporation subject to short interest?

Stocks of LKQ Corporation saw a sharp steep in short interest on Apr 28, 2022 dropping by -0.37 million shares to 5.83 million. Data from Yahoo Finance shows that the short interest on Mar 30, 2022 was 6.2 million shares. A decline of -6.35% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 3.13 of the overall float, the days-to-cover ratio (short ratio) decline to 3.13.

Which companies own the most shares of LKQ Corporation (LKQ)?

According to The Vanguard Group, Inc. filings, the company currently owns 26,405,301 shares, which is about 9.34% of the total LKQ shares outstanding. The investor’s shares have appreciated by 392,569 from its previous 13-F filing of 26012732.0 shares. With the completion of the buy, BlackRock Fund Advisors’s stake is now worth $721,603,117. Massachusetts Financial Services acquire a 4.73% interest valued at $689.07 million while ValueAct Capital Management LP sold a -4,997,660 stake. A total of 649,518 shares of LKQ Corporation were sold by Boston Partners Global Investors, during the quarter, and -626,668 were sold by SSgA Funds Management, Inc. In its current portfolio, Allspring Global Investments LLC holds 8,562,429 shares valued at $440.02 million.

In terms of LKQ Corporation share price expectations, FactSet research, analysts set an average price target of $65.43 in the next 12 months, up nearly 36.07% from the previous closing price of $47.77. Analysts anticipate LKQ Corporation stock to reach $74.00 by 2022, with the lowest price target being $59.00. In spite of this, 11 analysts ranked LKQ Corporation stock as an Overweight at the end of 2022.

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