Insider Buying: Legion Partners Asset Manageme, Momentive Global Inc. [MNTV] Director invested 497,500 shares

ZOM Stock
ZOM Stock

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Momentive Global Inc. shares valued at $3,582,945 were purchased by Legion Partners Asset Manageme on Aug 23. At $7.20 per share, Legion Partners Asset Manageme acquired 497,500 shares. The insider’s holdings grew to 2,046,382 shares worth approximately $15.27 million following the completion of this transaction.

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Also, Legion Partners Asset Manageme purchased 275,000 shares, netting a total of over 1,941,198 in proceeds. Following the buying of shares at $7.06 each, the insider now holds 1,597,435 shares.

Before that, James Erika H had sold 6,103 shares from its account. In a trade valued at $43,640, the Director traded Momentive Global Inc. shares for $7.15 each. Upon closing the transaction, the insider’s holdings decreased to 6,103 shares, worth approximately $0.25 million.

As published in a research note from Craig Hallum on May 05, 2022, Momentive Global Inc. [MNTV] has been rated up from a Hold to a Buy and the price target has been revised to $18.50. This represents a 59.68% premium over Wednesday’s closing price. Analysts at Needham resumed the stock at ‘”a Buy”‘ outlook in a report released in late February.

Analyzing MNTV Stock Performance

On Wednesday, Momentive Global Inc. [NASDAQ: MNTV] plunged -5.33% to $7.46. The stock’s lowest price that day was $7.46, but it reached a high of $7.91 in the same session. During the last five days, there has been a drop of approximately -1.58%. Over the course of the year, Momentive Global Inc. shares have dropped approximately -64.73%. Shares of the company reached a 52-week high of $21.98 on 01/03/22 and a 52-week low of $5.14 on 10/13/22. A 50-day SMA is recorded $6.72, while a 200-day SMA reached $11.53. Nevertheless, trading volume fell to 1.64 million shares from 2.03 million shares the previous day.

Support And Resistance Levels for Momentive Global Inc. (MNTV)

According to the 24-hour chart, there is a support level at 7.31, which, if violated, would cause prices to drop to 7.16. In the upper region, resistance lies at 7.76. The next price resistance is at 8.06. RSI (Relative Strength Index) is 56.23 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.35, which suggests the price will decrease in the coming days. Percent R is at 26.77%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.

Is Momentive Global Inc. subject to short interest?

Stocks of Momentive Global Inc. saw a sharp rise in short interest on Jul 14, 2022 jumping by 0.0 shares to 4.62 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 4.62 million shares.

Which companies own the most shares of Momentive Global Inc. (MNTV)?

According to The Vanguard Group, Inc. filings, the company currently owns 11,404,860 shares, which is about 7.73% of the total MNTV shares outstanding. The investor’s shares have plunged by -533,890 from its previous 13-F filing of 11938750.0 shares. With the completion of the buy transaction, ArrowMark Colorado Holdings LLC’s stake is now worth $64,118,114. BlackRock Fund Advisors acquire a 2.58% interest valued at $48.65 million while ClearBridge Investments LLC sold a -76,609 stake. A total of 1,245,000 shares of Momentive Global Inc. were sold by Sachem Head Capital Management LP during the quarter, and -575,638 were sold by Spyglass Capital Management LLC. In its current portfolio, Indaba Capital Management LP holds 3,987,050 shares valued at $23.16 million.

In terms of Momentive Global Inc. share price expectations, FactSet research, analysts set an average price target of $12.75 in the next 12 months, up nearly 64.97% from the previous closing price of $7.88. Analysts anticipate Momentive Global Inc. stock to reach $16.00 by 2022, with the lowest price target being $8.00. In spite of this, 6 analysts ranked Momentive Global Inc. stock as an Overweight at the end of 2022.


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