Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Advanced Drainage Systems Inc. shares valued at $2,399,273 were sold by TALLEY KEVIN C on Jun 14. At $90.54 per share, TALLEY KEVIN C sold 26,500 shares. The insider’s holdings dropped to 62,025 shares worth approximately $8.49 million following the completion of this transaction.
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Also, JONES ROSS M sold 108,926 shares, netting a total of over 11,839,070 in proceeds. Following the sale of shares at $108.69 each, the insider now holds 6,054,573 shares.
Before that, Seetharam Anil had sold 108,926 shares from its account. In a trade valued at $11,839,070, the Director traded Advanced Drainage Systems Inc. shares for $108.69 each. Upon closing the transaction, the insider’s holdings decreased to 108,926 shares, worth approximately $828.39 million.
As published in a research note from Morgan Stanley on March 01, 2022, Advanced Drainage Systems Inc. [WMS] has been rated up from an Equal-weight to an Overweight and the price target has been revised to $145. This represents a 5.64% premium over Thursday’s closing price. Analysts at Morgan Stanley upgraded the stock from ‘”an Underweight”‘ to ‘”an Equal-weight”‘ outlook in a report released in mid February. As of July 13, 2020, Morgan Stanley has decreased its “an Equal-weight” rating to a “an Underweight” for WMS. Earlier on June 05, 2020, Loop Capital initiated its rating. Their recommendation was “a Buy” for WMS stock.
Analyzing WMS’s Price Performance
On Thursday, Advanced Drainage Systems Inc. [NYSE: WMS] rose 13.59% to $136.82. The stock’s lowest price that day was $123.40, but it reached a high of $136.90 in the same session. During the last five days, there has been a surge of approximately 18.55%. Over the course of the year, Advanced Drainage Systems Inc. shares have jumped approximately 0.51%. Shares of the company reached a 52-week high of $137.92 on 01/05/22 and a 52-week low of $80.81 on 06/22/22. A 50-day SMA is recorded $101.15, while a 200-day SMA reached $113.80. Nevertheless, trading volume fell to 1.76 million shares from 0.56 million shares the previous day.
Support And Resistance Levels for Advanced Drainage Systems Inc. (WMS)
According to the 24-hour chart, there is a support level at 127.85, which, if violated, would cause prices to drop to 118.87. In the upper region, resistance lies at 141.35. The next price resistance is at 145.87. RSI (Relative Strength Index) is 88.29 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 14.27, which suggests the price will increase in the coming days. Percent R is at 0.19%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
Is Advanced Drainage Systems Inc. subject to short interest?
Stocks of Advanced Drainage Systems Inc. saw a sharp rise in short interest on Jul 14, 2022 jumping by 0.32 million shares to 1.54 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 1.22 million shares. A jump of 20.78% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 2.19 of the overall float, the days-to-cover ratio (short ratio) jumped to 2.19.
Which companies own the most shares of Advanced Drainage Systems Inc. (WMS)?
According to The Vanguard Group, Inc. filings, the company currently owns 5,209,394 shares, which is about 6.18% of the total WMS shares outstanding. The investor’s shares have appreciated by 531,432 from its previous 13-F filing of 4677962.0 shares. With the completion of the sale transaction, Canada Pension Plan Investment Bo’s stake is now worth $287,254,847. Impax Asset Management Ltd. acquire a 0.57% interest valued at $251.89 million while Stockbridge Partners LLC sold a 0 stake. A total of 472,183 shares of Advanced Drainage Systems Inc. were sold by Artisan Partners LP during the quarter, and 40,399 were bought by BlackRock Fund Advisors. In its current portfolio, Select Equity Group LP holds 2,181,725 shares valued at $196.51 million.
In terms of Advanced Drainage Systems Inc. share price expectations, FactSet research, analysts set an average price target of $123.20 in the next 12 months, down nearly -0.37% from the previous closing price of $120.45. Analysts anticipate Advanced Drainage Systems Inc. stock to reach $135.00 by 2022, with the lowest price target being $118.00. In spite of this, 5 analysts ranked Advanced Drainage Systems Inc. stock as an Overweight at the end of 2022.