Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Gaming and Leisure Properties Inc. shares valued at $156,000 were sold by Moore Brandon John on Jul 28. At $52.00 per share, Moore Brandon John sold 3,000 shares. The insider’s holdings dropped to 185,993 shares worth approximately $8.66 million following the completion of this transaction.
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Also, Moore Brandon John sold 2,714 shares, netting a total of over 135,700 in proceeds. Following the sale of shares at $50.00 each, the insider now holds 188,993 shares.
Before that, Moore Brandon John had sold 286 shares from its account. In a trade valued at $14,300, the EVP, Gen Counsel & Sec traded Gaming and Leisure Properties Inc. shares for $50.00 each. Upon closing the transaction, the insider’s holdings decreased to 286 shares, worth approximately $8.93 million.
As published in their initiating research note from RBC Capital Mkts on September 19, 2022, Gaming and Leisure Properties Inc. [GLPI] has been an Outperform and the price target has been revised to $54. This represents a 13.78% premium over Thursday’s closing price. Analysts at Berenberg started covering the stock with ‘”a Buy”‘ outlook in a report released in mid January. As of January 13, 2022, Truist has increased its “Hold” rating to a “Buy” for GLPI. Earlier on January 10, 2022, BofA Securities downgraded its rating. Their new recommendation was “an Underperform” for GLPI stock which previously was a “a Buy”.
Analyzing GLPI’s Price Performance
On Thursday, Gaming and Leisure Properties Inc. [NASDAQ: GLPI] plunged -0.58% to $46.56. The stock’s lowest price that day was $46.27, but it reached a high of $46.975 in the same session. During the last five days, there has been a drop of approximately -2.39%. Over the course of the year, Gaming and Leisure Properties Inc. shares have dropped approximately -4.32%. Shares of the company reached a 52-week high of $52.87 on 08/18/22 and a 52-week low of $41.81 on 01/24/22. A 50-day SMA is recorded $50.28, while a 200-day SMA reached $46.76. Nevertheless, trading volume fell to 1.64 million shares from 1.56 million shares the previous day.
Support And Resistance Levels for Gaming and Leisure Properties Inc. (GLPI)
According to the 24-hour chart, there is a support level at 46.23, which, if violated, would cause prices to drop to 45.90. In the upper region, resistance lies at 46.93. The next price resistance is at 47.31. RSI (Relative Strength Index) is 34.33 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.52, which suggests the price will decrease in the coming days. Percent R is at 92.89%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is Gaming and Leisure Properties Inc. subject to short interest?
Stocks of Gaming and Leisure Properties Inc. saw a sharp rise in short interest on Aug 30, 2022 jumping by 0.39 million shares to 3.17 million. Data from Yahoo Finance shows that the short interest on Jul 28, 2022 was 2.78 million shares. A jump of 12.3% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 1.47 of the overall float, the days-to-cover ratio (short ratio) jumped to 1.47.
Which companies own the most shares of Gaming and Leisure Properties Inc. (GLPI)?
According to The Vanguard Group, Inc. filings, the company currently owns 33,824,400 shares, which is about 13.18% of the total GLPI shares outstanding. The investor’s shares have appreciated by 97,713 from its previous 13-F filing of 33726687.0 shares. With the completion of the buy transaction, Capital Research & Management Co’s stake is now worth $908,953,690. Capital Research & Management Co reduced a -16.48% interest valued at $664.06 million while BlackRock Fund Advisors purchased a 149,414 stake. A total of 87,739 shares of Gaming and Leisure Properties Inc. were bought by BAMCO, Inc. during the quarter, and -2,100,070 were sold by Wellington Management Co. LLP. In its current portfolio, Putnam Investment Management LLC holds 8,262,758 shares valued at $398.84 million.
In terms of Gaming and Leisure Properties Inc. share price expectations, FactSet research, analysts set an average price target of $55.24 in the next 12 months, up nearly 18.51% from the previous closing price of $46.83. Analysts anticipate Gaming and Leisure Properties Inc. stock to reach $62.00 by 2022, with the lowest price target being $48.00. In spite of this, 20 analysts ranked Gaming and Leisure Properties Inc. stock as an Overweight at the end of 2022.