A company insider recently bought 200 shares of Molson Coors Beverage Company [TAP]. Should You Buy?

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Molson Coors Beverage Company shares valued at $10,690 were purchased by Winnefeld James A Jr on Aug 03. At $53.45 per share, Winnefeld James A Jr acquired 200 shares. The insider’s holdings grew to 13,226 shares worth approximately $0.7 million following the completion of this transaction.

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Also, Winnefeld James A Jr purchased 200 shares, netting a total of over 9,093 in proceeds. Following the buying of shares at $45.47 each, the insider now holds 10,170 shares.

Before that, VACHON LOUIS had added 3,000 shares to its account. In a trade valued at $138,120, the Director bought Molson Coors Beverage Company shares for $46.04 each. Upon closing the transaction, the insider’s holdings increased to 3,000 shares, worth approximately $1.68 million.

As published in a research note from Redburn on July 13, 2022, Molson Coors Beverage Company [TAP] has been rated up from a Sell to a Neutral. Analysts at Goldman upgraded the stock from ‘”a Sell”‘ to ‘”a Neutral”‘ outlook in a report released in late June. As of June 21, 2022, UBS has decreased its “Buy” rating to a “Neutral” for TAP. Earlier on May 17, 2022, Bernstein downgraded its rating. Their new recommendation was “a Mkt perform” for TAP stock which previously was a “an Outperform”.

Analyzing TAP’s Price Performance

On Thursday, Molson Coors Beverage Company [NYSE: TAP] plunged -2.36% to $52.91. The stock’s lowest price that day was $52.84, but it reached a high of $54.34 in the same session. During the last five days, there has been a drop of approximately -10.38%. Over the course of the year, Molson Coors Beverage Company shares have jumped approximately 14.15%. Shares of the company reached a 52-week high of $60.12 on 08/01/22 and a 52-week low of $46.47 on 01/03/22. A 50-day SMA is recorded $55.24, while a 200-day SMA reached $51.00. Nevertheless, trading volume fell to 2.08 million shares from 2.79 million shares the previous day.

Support And Resistance Levels for Molson Coors Beverage Company (TAP)

According to the 24-hour chart, there is a support level at 52.39, which, if violated, would cause prices to drop to 51.86. In the upper region, resistance lies at 53.89. The next price resistance is at 54.86. RSI (Relative Strength Index) is 36.25 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -3.91, which suggests the price will decrease in the coming days. Percent R is at 99.04%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

Is Molson Coors Beverage Company subject to short interest?

Stocks of Molson Coors Beverage Company saw a sharp steep in short interest on Jul 14, 2022 dropping by -2.29 million shares to 8.43 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 10.72 million shares. A decline of -27.16% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 5.1 of the overall float, the days-to-cover ratio (short ratio) decline to 5.1.

Which companies own the most shares of Molson Coors Beverage Company (TAP)?

According to Dodge & Cox filings, the company currently owns 30,246,969 shares, which is about 15.08% of the total TAP shares outstanding. The investor’s shares have plunged by -368,841 from its previous 13-F filing of 30615810.0 shares. With the completion of the buy transaction, The Vanguard Group, Inc.’s stake is now worth $1,121,875,761. BlackRock Fund Advisors reduced a -7.82% interest valued at $556.33 million while SSgA Funds Management, Inc. purchased a 143,757 stake. A total of 36,611 shares of Molson Coors Beverage Company were bought by LSV Asset Management during the quarter, and -146,589 were sold by Clarkston Capital Partners LLC. In its current portfolio, Capital Research & Management Co holds 4,721,084 shares valued at $257.35 million.

In terms of Molson Coors Beverage Company share price expectations, FactSet research, analysts set an average price target of $56.00 in the next 12 months, up nearly 1.49% from the previous closing price of $54.19. Analysts anticipate Molson Coors Beverage Company stock to reach $68.00 by 2022, with the lowest price target being $49.00. In spite of this, 20 analysts ranked Molson Coors Beverage Company stock as a Hold at the end of 2022. On May 25, 2021, Bernstein assigned a price target of “an Outperform” to the stock and initiated coverage with a $74.


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