Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Boot Barn Holdings Inc. shares valued at $283,505 were purchased by STARRETT PETER on Aug 22. At $70.88 per share, STARRETT PETER acquired 4,000 shares. The insider’s holdings grew to 14,799 shares worth approximately $0.85 million following the completion of this transaction.
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Also, Watkins James M purchased 2,500 shares, netting a total of over 152,082 in proceeds. Following the buying of shares at $60.83 each, the insider now holds 8,353 shares.
Before that, STARRETT PETER had added 1,200 shares to its account. In a trade valued at $97,072, the Director bought Boot Barn Holdings Inc. shares for $80.89 each. Upon closing the transaction, the insider’s holdings increased to 1,200 shares, worth approximately $0.62 million.
As published in a research note from Seaport Research Partners on August 11, 2022, Boot Barn Holdings Inc. [BOOT] has been rated up from a Neutral to a Buy and the price target has been revised to $100. This represents a 42.68% premium over Thursday’s closing price. Analysts at Robert W. Baird upgraded the stock from ‘”a Neutral”‘ to ‘”an Outperform”‘ outlook in a report released in late May. As of May 06, 2022, Piper Sandler has increased its “Neutral” rating to a “an Overweight” for BOOT. Earlier on January 18, 2022, Seaport Research Partners initiated its rating. Their recommendation was “a Neutral” for BOOT stock.
Analyzing BOOT’s Price Performance
On Thursday, Boot Barn Holdings Inc. [NYSE: BOOT] plunged -8.67% to $57.32. The stock’s lowest price that day was $57.27, but it reached a high of $62.72 in the same session. During the last five days, there has been a drop of approximately -11.99%. Over the course of the year, Boot Barn Holdings Inc. shares have dropped approximately -53.42%. Shares of the company reached a 52-week high of $126.69 on 01/03/22 and a 52-week low of $57.27 on 09/22/22. A 50-day SMA is recorded $67.79, while a 200-day SMA reached $86.46. Nevertheless, trading volume fell to 1.06 million shares from 0.31 million shares the previous day.
Support And Resistance Levels for Boot Barn Holdings Inc. (BOOT)
According to the 24-hour chart, there is a support level at 55.49, which, if violated, would cause prices to drop to 53.65. In the upper region, resistance lies at 60.94. The next price resistance is at 64.55. RSI (Relative Strength Index) is 29.46 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -4.28, 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 Boot Barn Holdings Inc. subject to short interest?
Stocks of Boot Barn Holdings Inc. saw a sharp rise in short interest on Jul 14, 2022 jumping by 0.29 million shares to 2.73 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 2.44 million shares. A jump of 10.62% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 5.21 of the overall float, the days-to-cover ratio (short ratio) jumped to 5.21.
Which companies own the most shares of Boot Barn Holdings Inc. (BOOT)?
According to BlackRock Fund Advisors filings, the company currently owns 4,259,008 shares, which is about 14.29% of the total BOOT shares outstanding. The investor’s shares have appreciated by 1,385 from its previous 13-F filing of 4257623.0 shares. With the completion of the buy transaction, The Vanguard Group, Inc.’s stake is now worth $173,213,666. Wasatch Advisors, Inc. acquire a 40.58% interest valued at $104.15 million while SSgA Funds Management, Inc. purchased a 38,436 stake. A total of -56,910 shares of Boot Barn Holdings Inc. were bought by Dimensional Fund Advisors LP during the quarter, and 133,914 were bought by Invesco Advisers, Inc.. In its current portfolio, Marshall Wace LLP holds 650,545 shares valued at $43.34 million.
In terms of Boot Barn Holdings Inc. share price expectations, FactSet research, analysts set an average price target of $100.64 in the next 12 months, up nearly 59.34% from the previous closing price of $62.76. Analysts anticipate Boot Barn Holdings Inc. stock to reach $127.00 by 2022, with the lowest price target being $70.00. In spite of this, 12 analysts ranked Boot Barn Holdings Inc. stock as a Buy at the end of 2022. On December 21, 2021, The Benchmark Company assigned a price target of “a Buy” to the stock and initiated coverage with a $135.