Selling Buzz: Albertsons Companies Inc. [ACI] EVP & Chief Operations Officer MORRIS SUSAN sells 252,002 shares of the company

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. Albertsons Companies Inc. shares valued at $7,272,778 were sold by MORRIS SUSAN on Aug 10. At $28.86 per share, MORRIS SUSAN sold 252,002 shares. The insider’s holdings dropped to 386,926 shares worth approximately $10.14 million following the completion of this transaction.

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Also, MORRIS SUSAN sold 252,003 shares, netting a total of over 7,119,085 in proceeds. Following the sale of shares at $28.25 each, the insider now holds 638,928 shares.

Before that, Larson Robert Bruce had sold 35,000 shares from its account. In a trade valued at $937,650, the Chief Accounting Officer traded Albertsons Companies Inc. shares for $26.79 each. Upon closing the transaction, the insider’s holdings decreased to 35,000 shares, worth approximately $2.1 million.

As published in a research note from UBS on January 12, 2022, Albertsons Companies Inc. [ACI] has been retained to a Neutral and the price target has been revised to $31. This represents a 15.45% premium over Thursday’s closing price. Analysts at Telsey Advisory Group resumed the stock at ‘”an Outperform”‘ outlook in a report released in early January. As of December 14, 2021, UBS has initiated its “Neutral” rating for ACI. Earlier on October 19, 2021, Citigroup downgraded its rating. Their new recommendation was “a Neutral” for ACI stock which previously was a “a Buy”.

Analyzing ACI’s Price Performance

On Thursday, Albertsons Companies Inc. [NYSE: ACI] plunged -0.53% to $26.21. The stock’s lowest price that day was $26.02, but it reached a high of $26.47 in the same session. During the last five days, there has been a drop of approximately -5.00%. Over the course of the year, Albertsons Companies Inc. shares have dropped approximately -13.18%. Shares of the company reached a 52-week high of $37.99 on 03/07/22 and a 52-week low of $25.89 on 07/26/22. A 50-day SMA is recorded $27.64, while a 200-day SMA reached $29.87. Nevertheless, trading volume fell to 2.65 million shares from 3.37 million shares the previous day.

Support And Resistance Levels for Albertsons Companies Inc. (ACI)

According to the 24-hour chart, there is a support level at 26.00, which, if violated, would cause prices to drop to 25.78. In the upper region, resistance lies at 26.45. The next price resistance is at 26.68. RSI (Relative Strength Index) is 33.78 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.58, which suggests the price will decrease in the coming days. Percent R is at 95.42%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

Is Albertsons Companies Inc. subject to short interest?

Stocks of Albertsons Companies Inc. saw a sharp rise in short interest on Jul 14, 2022 jumping by 0.82 million shares to 7.63 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 6.81 million shares. A jump of 10.75% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 2.22 of the overall float, the days-to-cover ratio (short ratio) jumped to 2.22.

Which companies own the most shares of Albertsons Companies Inc. (ACI)?

According to Fidelity Management & Research Co filings, the company currently owns 22,473,923 shares, which is about 4.22% of the total ACI shares outstanding. The investor’s shares have appreciated by 16,820,059 from its previous 13-F filing of 5653864.0 shares. With the completion of the buy transaction, The Vanguard Group, Inc.’s stake is now worth $217,813,809. Citadel Advisors LLC acquire a 325.48% interest valued at $173.66 million while Massachusetts Financial Services purchased a 827,372 stake. A total of 3,831,359 shares of Albertsons Companies Inc. were bought by Millennium Management LLC during the quarter, and 78,003 were bought by BlackRock Fund Advisors. In its current portfolio, Point72 Asset Management LP holds 3,976,621 shares valued at $109.4 million.

In terms of Albertsons Companies Inc. share price expectations, FactSet research, analysts set an average price target of $34.56 in the next 12 months, up nearly 30.93% from the previous closing price of $26.35. Analysts anticipate Albertsons Companies Inc. stock to reach $45.00 by 2022, with the lowest price target being $24.00. In spite of this, 20 analysts ranked Albertsons Companies Inc. stock as an Overweight at the end of 2022.


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