Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Crown Castle Inc. shares valued at $121,344 were purchased by Stephens Kevin A on Jul 22. At $173.60 per share, Stephens Kevin A acquired 699 shares. The insider’s holdings grew to 10,703 shares worth approximately $1.7 million following the completion of this transaction.
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Also, Collins Robert Sean sold 1,000 shares, netting a total of over 185,435 in proceeds. Following the sale of shares at $185.44 each, the insider now holds 10,082 shares.
Before that, Collins Robert Sean had sold 1,000 shares from its account. In a trade valued at $185,435, the Vice President and Controller traded Crown Castle Inc. shares for $185.44 each. Upon closing the transaction, the insider’s holdings decreased to 1,000 shares, worth approximately $1.6 million.
As published in a research note from Jefferies on June 30, 2022, Crown Castle Inc. [CCI] has been rated up from a Hold to a Buy and the price target has been revised to $200 from $191. This represents a 20.81% premium over Wednesday’s closing price. Analysts at Deutsche Bank downgraded the stock from ‘”a Buy”‘ to ‘”a Hold”‘ outlook in a report released in late June. As of June 02, 2022, Wells Fargo has decreased its “an Equal weight” rating to a “an Underweight” for CCI. Earlier on January 28, 2022, Raymond James upgraded its rating. Their new recommendation was “an Outperform” for CCI stock which previously was a “a Mkt perform”.
Analyzing CCI’s Price Performance
On Wednesday, Crown Castle Inc. [NYSE: CCI] plunged -1.83% to $158.39. The stock’s lowest price that day was $158.325, but it reached a high of $164.225 in the same session. During the last five days, there has been a drop of approximately -4.87%. Over the course of the year, Crown Castle Inc. shares have dropped approximately -24.12%. Shares of the company reached a 52-week high of $209.00 on 01/03/22 and a 52-week low of $153.70 on 06/16/22. A 50-day SMA is recorded $174.05, while a 200-day SMA reached $180.01. Nevertheless, trading volume fell to 1.69 million shares from 2.11 million shares the previous day.
Support And Resistance Levels for Crown Castle Inc. (CCI)
According to the 24-hour chart, there is a support level at 156.40, which, if violated, would cause prices to drop to 154.41. In the upper region, resistance lies at 162.30. The next price resistance is at 166.21. RSI (Relative Strength Index) is 31.13 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -6.94, which suggests the price will decrease in the coming days. Percent R is at 99.67%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is Crown Castle Inc. subject to short interest?
Stocks of Crown Castle Inc. saw a sharp steep in short interest on Jul 14, 2022 dropping by -0.63 million shares to 5.28 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 5.91 million shares. A decline of -11.93% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 2.93 of the overall float, the days-to-cover ratio (short ratio) decline to 2.93.
Which companies own the most shares of Crown Castle Inc. (CCI)?
According to The Vanguard Group, Inc. filings, the company currently owns 54,612,276 shares, which is about 12.61% of the total CCI shares outstanding. The investor’s shares have plunged by -352,719 from its previous 13-F filing of 54964995.0 shares. With the completion of the buy transaction, BlackRock Fund Advisors’s stake is now worth $3,828,986,182. SSgA Funds Management, Inc. reduced a -1.44% interest valued at $3.52 billion while Capital Research & Management Co purchased a 331,923 stake. A total of -2,267,589 shares of Crown Castle Inc. were bought by Capital Research & Management Co during the quarter, and -444,850 were sold by Capital Research & Management Co. In its current portfolio, Managed Account Advisors LLC holds 9,776,533 shares valued at $1.67 billion.
In terms of Crown Castle Inc. share price expectations, FactSet research, analysts set an average price target of $196.50 in the next 12 months, up nearly 23.34% from the previous closing price of $161.34. Analysts anticipate Crown Castle Inc. stock to reach $230.00 by 2022, with the lowest price target being $162.00. In spite of this, 20 analysts ranked Crown Castle Inc. stock as an Overweight at the end of 2022. On January 10, 2022, Jefferies assigned a price target of “a Hold” to the stock and downgraded coverage with a $203.