Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. RLJ Lodging Trust shares valued at $576,000 were sold by DAVIS NATHANIEL A on Mar 18. At $14.40 per share, DAVIS NATHANIEL A sold 40,000 shares. The insider’s holdings dropped to 62,674 shares worth approximately $0.72 million following the completion of this transaction.
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As published in their initiating research note from Oppenheimer on April 22, 2022, RLJ Lodging Trust [RLJ] has been an Outperform and the price target has been revised to $20. This represents a 42.85% premium over Wednesday’s closing price. Analysts at Robert W. Baird upgraded the stock from ‘”a Neutral”‘ to ‘”an Outperform”‘ outlook in a report released in mid January. As of April 14, 2021, Truist has increased its “Hold” rating to a “Buy” for RLJ. Earlier on March 01, 2021, Compass Point upgraded its rating. Their new recommendation was “a Buy” for RLJ stock which previously was a “a Neutral”.
Analyzing RLJ’s Price Performance
On Wednesday, RLJ Lodging Trust [NYSE: RLJ] plunged -5.69% to $11.43. The stock’s lowest price that day was $11.43, but it reached a high of $12.29 in the same session. During the last five days, there has been a drop of approximately -7.52%. Over the course of the year, RLJ Lodging Trust shares have dropped approximately -17.95%. Shares of the company reached a 52-week high of $15.45 on 02/18/22 and a 52-week low of $10.19 on 06/23/22. A 50-day SMA is recorded $12.34, while a 200-day SMA reached $13.15. Nevertheless, trading volume fell to 1.41 million shares from 0.92 million shares the previous day.
Support And Resistance Levels for RLJ Lodging Trust (RLJ)
According to the 24-hour chart, there is a support level at 11.14, which, if violated, would cause prices to drop to 10.86. In the upper region, resistance lies at 12.00. The next price resistance is at 12.58. RSI (Relative Strength Index) is 35.17 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.19, which suggests the price will decrease in the coming days. Percent R is at 100.00%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is RLJ Lodging Trust subject to short interest?
Stocks of RLJ Lodging Trust saw a sharp rise in short interest on Jul 14, 2022 jumping by 1.4 million shares to 11.14 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 9.74 million shares. A jump of 12.57% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 5.24 of the overall float, the days-to-cover ratio (short ratio) jumped to 5.24.
Which companies own the most shares of RLJ Lodging Trust (RLJ)?
According to The Vanguard Group, Inc. filings, the company currently owns 23,983,902 shares, which is about 14.74% of the total RLJ shares outstanding. The investor’s shares have plunged by -609,965 from its previous 13-F filing of 24593867.0 shares. With the completion of the buy transaction, BlackRock Fund Advisors’s stake is now worth $144,524,640. FIAM LLC reduced a -9.52% interest valued at $124.62 million while Fidelity Management & Research Co sold a -4,654,325 stake. A total of 10,819 shares of RLJ Lodging Trust were sold by SSgA Funds Management, Inc. during the quarter, and -2,444,176 were sold by Goldman Sachs Asset Management LP. In its current portfolio, H/2 Credit Manager LP holds 5,445,942 shares valued at $65.68 million.