CSX Corporation [CSX] Director makes an insider purchase of 16,000 shares worth 0.52 million.

Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. CSX Corporation shares valued at $516,000 were sold by ZILLMER JOHN J on Jun 06. At $32.25 per share, ZILLMER JOHN J sold 16,000 shares. The insider’s holdings dropped to 320,763 shares worth approximately $9.35 million following the completion of this transaction.

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Also, Goldman Nathan D sold 57,793 shares, netting a total of over 2,019,287 in proceeds. Following the sale of shares at $34.94 each, the insider now holds 174,861 shares.

Before that, Williams Angela C had sold 38,535 shares from its account. In a trade valued at $1,365,569, the VP & Chief Accounting Officer traded CSX Corporation shares for $35.44 each. Upon closing the transaction, the insider’s holdings decreased to 38,535 shares, worth approximately $0.48 million.

As published in a research note from Bernstein on September 14, 2022, CSX Corporation [CSX] has been rated down from an Outperform to a Mkt perform and the price target has been revised to $32. This represents a 8.94% premium over Wednesday’s closing price. Analysts at Loop Capital upgraded the stock from ‘”a Hold”‘ to ‘”a Buy”‘ outlook in a report released in late July. As of July 15, 2022, Stifel has increased its “Hold” rating to a “Buy” for CSX. Earlier on June 28, 2022, Credit Suisse initiated its rating. Their recommendation was “an Outperform” for CSX stock.

Analyzing CSX’s Price Performance

On Wednesday, CSX Corporation [NASDAQ: CSX] plunged -1.12% to $29.14. The stock’s lowest price that day was $29.135, but it reached a high of $30.00 in the same session. During the last five days, there has been a drop of approximately -6.69%. Over the course of the year, CSX Corporation shares have dropped approximately -22.50%. Shares of the company reached a 52-week high of $38.63 on 03/07/22 and a 52-week low of $27.59 on 07/14/22. A 50-day SMA is recorded $31.89, while a 200-day SMA reached $33.54. Nevertheless, trading volume fell to 12.71 million shares from 17.56 million shares the previous day.

Support And Resistance Levels for CSX Corporation (CSX)

According to the 24-hour chart, there is a support level at 28.85, which, if violated, would cause prices to drop to 28.56. In the upper region, resistance lies at 29.72. The next price resistance is at 30.29. RSI (Relative Strength Index) is 30.17 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.56, which suggests the price will decrease in the coming days. Percent R is at 94.03%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

Is CSX Corporation subject to short interest?

Stocks of CSX Corporation saw a sharp steep in short interest on Jul 14, 2022 dropping by -3.09 million shares to 22.99 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 26.08 million shares. A decline of -13.44% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 1.37 of the overall float, the days-to-cover ratio (short ratio) decline to 1.37.

Which companies own the most shares of CSX Corporation (CSX)?

According to The Vanguard Group, Inc. filings, the company currently owns 175,581,911 shares, which is about 8.20% of the total CSX shares outstanding. The investor’s shares have appreciated by 128,139 from its previous 13-F filing of 175453772.0 shares. With the completion of the sale transaction, Capital Research & Management Co’s stake is now worth $3,469,386,627. SSgA Funds Management, Inc. reduced a -4.16% interest valued at $3.04 billion while BlackRock Fund Advisors sold a -193,789 stake. A total of -23,710,889 shares of CSX Corporation were sold by Capital Research & Management Co during the quarter, and 11,670,047 were bought by Soroban Capital Partners LP. In its current portfolio, T. Rowe Price Associates, Inc. holds 44,082,889 shares valued at $1.4 billion.


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