A company insider recently sold 2,100 shares of Foot Locker Inc. [FL]. Should You Sale?

Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Foot Locker Inc. shares valued at $69,342 were sold by Page Andrew E on May 26. At $33.02 per share, Page Andrew E sold 2,100 shares. The insider’s holdings dropped to 576 shares worth approximately $21646.079999999998 following the completion of this transaction.

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Also, Maurer John A sold 3,650 shares, netting a total of over 113,150 in proceeds. Following the sale of shares at $31.00 each, the insider now holds 22,454 shares.

Before that, Johnson Richard A had sold 49,000 shares from its account. In a trade valued at $1,519,000, the President & CEO traded Foot Locker Inc. shares for $31.00 each. Upon closing the transaction, the insider’s holdings decreased to 49,000 shares, worth approximately $12.76 million.

As published in a research note from Morgan Stanley on August 22, 2022, Foot Locker Inc. [FL] has been rated up from an Underweight to an Equal-weight and the price target has been revised to $36 from $24. This represents a -4.39% premium over Wednesday’s closing price. Analysts at Barclays upgraded the stock from ‘”an Underweight”‘ to ‘”an Equal weight”‘ outlook in a report released in late August. As of August 19, 2022, JP Morgan has increased its “an Underweight” rating to a “Neutral” for FL. Earlier on August 19, 2022, Citigroup upgraded its rating. Their new recommendation was “a Neutral” for FL stock which previously was a “a Sell”.

Analyzing FL’s Price Performance

On Wednesday, Foot Locker Inc. [NYSE: FL] plunged -0.42% to $37.58. The stock’s lowest price that day was $37.53, but it reached a high of $38.68 in the same session. During the last five days, there has been a surge of approximately 0.08%. Over the course of the year, Foot Locker Inc. shares have dropped approximately -13.87%. Shares of the company reached a 52-week high of $47.42 on 01/26/22 and a 52-week low of $23.85 on 07/14/22. A 50-day SMA is recorded $32.60, while a 200-day SMA reached $34.22. Nevertheless, trading volume fell to 2.14 million shares from 2.52 million shares the previous day.

Support And Resistance Levels for Foot Locker Inc. (FL)

According to the 24-hour chart, there is a support level at 37.18, which, if violated, would cause prices to drop to 36.78. In the upper region, resistance lies at 38.33. The next price resistance is at 39.08. RSI (Relative Strength Index) is 56.62 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.54, which suggests the price will decrease in the coming days. Percent R is at 46.70%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.

Is Foot Locker Inc. subject to short interest?

Stocks of Foot Locker Inc. saw a sharp rise in short interest on Jul 14, 2022 jumping by 3.96 million shares to 12.37 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 8.41 million shares. A jump of 32.01% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 3.77 of the overall float, the days-to-cover ratio (short ratio) jumped to 3.77.

Which companies own the most shares of Foot Locker Inc. (FL)?

According to The Vanguard Group, Inc. filings, the company currently owns 9,956,860 shares, which is about 10.54% of the total FL shares outstanding. The investor’s shares have plunged by -181,373 from its previous 13-F filing of 10138233.0 shares. With the completion of the sale transaction, Fidelity Management & Research Co’s stake is now worth $345,096,379. BlackRock Fund Advisors acquire a 22.13% interest valued at $318.27 million while Dimensional Fund Advisors LP purchased a 460,040 stake. A total of -30,522 shares of Foot Locker Inc. were bought by LSV Asset Management during the quarter, and 248,611 were bought by SSgA Funds Management, Inc. In its current portfolio, Balyasny Asset Management LP holds 2,216,471 shares valued at $81.65 million.

In terms of Foot Locker Inc. share price expectations, FactSet research, analysts set an average price target of $38.66 in the next 12 months, up nearly 2.01% from the previous closing price of $37.74. Analysts anticipate Foot Locker Inc. stock to reach $47.00 by 2022, with the lowest price target being $29.00. In spite of this, 21 analysts ranked Foot Locker Inc. stock as a Hold at the end of 2022. On August 19, 2022, BofA Securities assigned a price target of “a Neutral” to the stock and upgraded coverage with a $43.


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