Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. United Rentals Inc. shares valued at $102,637 were sold by Limoges Andrew B. on Aug 11. At $333.24 per share, Limoges Andrew B. sold 308 shares. The insider’s holdings dropped to 2,070 shares worth approximately $0.57 million following the completion of this transaction.
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Also, Graziano Jessica sold 977 shares, netting a total of over 317,525 in proceeds. Following the sale of shares at $325.00 each, the insider now holds 21,587 shares.
Before that, Flannery Matthew John had sold 19,076 shares from its account. In a trade valued at $5,722,800, the President & CEO traded United Rentals Inc. shares for $300.00 each. Upon closing the transaction, the insider’s holdings decreased to 19,076 shares, worth approximately $23.76 million.
As published in a research note from Bernstein on August 18, 2022, United Rentals Inc. [URI] has been rated down from a Mkt perform to an Underperform and the price target has been revised to $269 from $307. This represents a -1.59% premium over Thursday’s closing price. Analysts at Wells Fargo started covering the stock with ‘”an Overweight”‘ outlook in a report released in mid March. Earlier on December 21, 2021, Robert W. Baird downgraded its rating. Their new recommendation was “a Neutral” for URI stock which previously was a “an Outperform”.
Analyzing URI’s Price Performance
On Thursday, United Rentals Inc. [NYSE: URI] plunged -3.39% to $273.27. The stock’s lowest price that day was $270.47, but it reached a high of $283.88 in the same session. During the last five days, there has been a drop of approximately -5.35%. Over the course of the year, United Rentals Inc. shares have dropped approximately -17.76%. Shares of the company reached a 52-week high of $368.61 on 03/29/22 and a 52-week low of $230.54 on 06/23/22. A 50-day SMA is recorded $300.80, while a 200-day SMA reached $307.93. Nevertheless, trading volume fell to 1.01 million shares from 0.61 million shares the previous day.
Support And Resistance Levels for United Rentals Inc. (URI)
According to the 24-hour chart, there is a support level at 267.87, which, if violated, would cause prices to drop to 262.46. In the upper region, resistance lies at 281.28. The next price resistance is at 289.28. RSI (Relative Strength Index) is 35.33 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -11.54, which suggests the price will decrease in the coming days. Percent R is at 94.02%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is United Rentals Inc. subject to short interest?
Stocks of United Rentals Inc. saw a sharp rise in short interest on Jul 14, 2022 jumping by 0.21 million shares to 2.95 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 2.74 million shares. A jump of 7.12% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 3.73 of the overall float, the days-to-cover ratio (short ratio) jumped to 3.73.
Which companies own the most shares of United Rentals Inc. (URI)?
According to The Vanguard Group, Inc. filings, the company currently owns 7,962,968 shares, which is about 11.38% of the total URI shares outstanding. The investor’s shares have appreciated by 61,940 from its previous 13-F filing of 7901028.0 shares. With the completion of the sale transaction, SSgA Funds Management, Inc.’s stake is now worth $1,041,375,799. BlackRock Fund Advisors reduced a -2.15% interest valued at $1.03 billion while Capital Research & Management Co purchased a 3,410 stake. A total of 1,390,903 shares of United Rentals Inc. were bought by Capital Research & Management Co during the quarter, and 3,925 were bought by Geode Capital Management LLC. In its current portfolio, Lyrical Asset Management LP holds 1,174,657 shares valued at $343.05 million.