A company insider recently sold 70,000 shares of LKQ Corporation [LKQ]. Should You Sale?

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. LKQ Corporation shares valued at $3,820,418 were sold by HOLSTEN JOSEPH M on Jul 29. At $54.58 per share, HOLSTEN JOSEPH M sold 70,000 shares. The insider’s holdings dropped to 136,901 shares worth approximately $7.45 million following the completion of this transaction.


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Also, ValueAct Holdings, L.P. sold 5,000,000 shares, netting a total of over 251,750,000 in proceeds. Following the sale of shares at $50.35 each, the insider now holds 12,552,751 shares.

Before that, Berard Patrick 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 $0.64 million.

As published in their initiating research note from MKM Partners on July 13, 2022, LKQ Corporation [LKQ] has been a Buy and the price target has been revised to $68. This represents a 19.96% premium over Thursday’s closing price. Analysts at Barrington Research upgraded the stock from ‘”a Mkt perform”‘ to ‘”an Outperform”‘ outlook in a report released in late April. As of February 17, 2022, Barrington Research has decreased its “an Outperform” rating to a “Mkt perform” for LKQ. Earlier on August 02, 2021, Raymond James upgraded its rating. Their new recommendation was “an Outperform” for LKQ stock which previously was a “a Mkt perform”.

Analyzing LKQ’s Price Performance

On Thursday, LKQ Corporation [NASDAQ: LKQ] plunged -0.51% to $54.43. The stock’s lowest price that day was $54.30, but it reached a high of $54.76 in the same session. During the last five days, there has been a surge of approximately 0.52%. Over the course of the year, LKQ Corporation shares have dropped approximately -9.33%. 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 $50.96, while a 200-day SMA reached $52.29. Nevertheless, trading volume fell to 1.09 million shares from 1.44 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 54.23, which, if violated, would cause prices to drop to 54.04. In the upper region, resistance lies at 54.69. The next price resistance is at 54.96. RSI (Relative Strength Index) is 62.68 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.07, which suggests the price will increase in the coming days. Percent R is at 20.00%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.

Is LKQ Corporation subject to short interest?

Stocks of LKQ Corporation saw a sharp rise in short interest on Jul 14, 2022 jumping by 0.29 million shares to 4.51 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 4.22 million shares. A jump of 6.43% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 2.67 of the overall float, the days-to-cover ratio (short ratio) jumped to 2.67.

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 transaction, BlackRock Fund Advisors’s stake is now worth $689,307,200. Massachusetts Financial Services acquire a 4.73% interest valued at $658.23 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 8,514,657 shares valued at $417.98 million.

In terms of LKQ Corporation share price expectations, FactSet research, analysts set an average price target of $63.11 in the next 12 months, up nearly 18.81% from the previous closing price of $54.71. Analysts anticipate LKQ Corporation stock to reach $68.00 by 2022, with the lowest price target being $52.00. In spite of this, 13 analysts ranked LKQ Corporation stock as an Overweight at the end of 2022.

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