The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. LKQ Corporation shares valued at $88,304 were sold by Mendel John W on Aug 04. At $54.61 per share, Mendel John W sold 1,617 shares. The insider’s holdings dropped to 15,203 shares worth approximately $0.73 million following the completion of this transaction.
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Also, HOLSTEN JOSEPH M sold 70,000 shares, netting a total of over 3,820,418 in proceeds. Following the sale of shares at $54.58 each, the insider now holds 136,901 shares.
Before that, ValueAct Holdings, L.P. had sold 5,000,000 shares from its account. In a trade valued at $251,750,000, the Director traded LKQ Corporation shares for $50.35 each. Upon closing the transaction, the insider’s holdings decreased to 5,000,000 shares, worth approximately $606.67 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 28.93% premium over Wednesday’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 Wednesday, LKQ Corporation [NASDAQ: LKQ] plunged -1.75% to $48.33. The stock’s lowest price that day was $48.32, but it reached a high of $49.94 in the same session. During the last five days, there has been a drop of approximately -2.52%. Over the course of the year, LKQ Corporation shares have dropped approximately -19.49%. 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 $53.24, while a 200-day SMA reached $51.67. Nevertheless, trading volume fell to 1.68 million shares from 1.72 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 47.79, which, if violated, would cause prices to drop to 47.24. In the upper region, resistance lies at 49.41. The next price resistance is at 50.48. RSI (Relative Strength Index) is 33.63 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.89, which suggests the price will decrease in the coming days. Percent R is at 96.88%, indicating bearish price movement. Stochastics %K at buying 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 26,188,099 shares, which is about 9.54% of the total LKQ shares outstanding. The investor’s shares have plunged by -217,202 from its previous 13-F filing of 26405301.0 shares. With the completion of the buy transaction, Massachusetts Financial Services’s stake is now worth $772,146,840. BlackRock Fund Advisors reduced a -3.26% interest valued at $722.96 million while ValueAct Capital Management LP sold a -4,997,660 stake. A total of -438,561 shares of LKQ Corporation were sold by Boston Partners Global Investors, during the quarter, and -574,546 were sold by SSgA Funds Management, Inc. In its current portfolio, Allspring Global Investments LLC holds 8,514,657 shares valued at $453.15 million.
In terms of LKQ Corporation share price expectations, FactSet research, analysts set an average price target of $63.56 in the next 12 months, up nearly 32.14% from the previous closing price of $49.19. Analysts anticipate LKQ Corporation stock to reach $70.00 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.