Insider Selling: Stephan Louis Fred, Amcor plc [AMCR] PRESIDENT, AMCOR FLEXIBLES NA divested 27,500 shares


Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Amcor plc shares valued at $342,650 were sold by Stephan Louis Fred on Sep 12. At $12.46 per share, Stephan Louis Fred sold 27,500 shares. The insider’s holdings dropped to 112,464 shares worth approximately $1.22 million following the completion of this transaction.

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Also, Delia Ronald Stephen sold 177,185 shares, netting a total of over 2,199,752 in proceeds. Following the sale of shares at $12.41 each, the insider now holds 1,700,000 shares.

Before that, Zacka Michael J had sold 1,429,959 shares from its account. In a trade valued at $17,367,051, the PRESIDENT, AMCOR FLEX EUROPE traded Amcor plc shares for $12.15 each. Upon closing the transaction, the insider’s holdings decreased to 1,429,959 shares, worth approximately $2.27 million.

As published in a research note from BofA Securities on October 13, 2022, Amcor plc [AMCR] has been rated up from an Underperform to a Buy. Analysts at Macquarie downgraded the stock from ‘”an Outperform”‘ to ‘”a Neutral”‘ outlook in a report released in mid August. As of August 18, 2022, Jefferies has decreased its “Hold” rating to a “an Underperform” for AMCR. Earlier on August 04, 2022, Morgan Stanley downgraded its rating. Their new recommendation was “an Equal-weight” for AMCR stock which previously was a “an Overweight”.

Analyzing AMCR Stock Performance

On Wednesday, Amcor plc [NYSE: AMCR] plunged -6.47% to $10.84. The stock’s lowest price that day was $10.83, but it reached a high of $11.30 in the same session. During the last five days, there has been a drop of approximately -5.57%. Over the course of the year, Amcor plc shares have dropped approximately -9.74%. Shares of the company reached a 52-week high of $13.60 on 06/06/22 and a 52-week low of $10.42 on 10/13/22. A 50-day SMA is recorded $11.46, while a 200-day SMA reached $11.99. Nevertheless, trading volume fell to 14.43 million shares from 16.75 million shares the previous day.

Support And Resistance Levels for Amcor plc (AMCR)

According to the 24-hour chart, there is a support level at 10.68, which, if violated, would cause prices to drop to 10.52. In the upper region, resistance lies at 11.15. The next price resistance is at 11.46. RSI (Relative Strength Index) is 41.14 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.06, which suggests the price will decrease in the coming days. Percent R is at 98.92%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.

Is Amcor plc subject to short interest?

Stocks of Amcor plc saw a sharp steep in short interest on Jul 14, 2022 dropping by -6.17 million shares to 45.43 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 51.6 million shares. A decline of -13.58% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 4.62 of the overall float, the days-to-cover ratio (short ratio) decline to 4.62.

Which companies own the most shares of Amcor plc (AMCR)?

According to SSgA Funds Management, Inc. filings, the company currently owns 121,269,740 shares, which is about 8.14% of the total AMCR shares outstanding. The investor’s shares have appreciated by 8,624,959 from its previous 13-F filing of 112644781.0 shares. With the completion of the buy transaction, BlackRock Fund Advisors’s stake is now worth $961,525,633. The Vanguard Group, Inc. reduced a -1.32% interest valued at $552.97 million while Geode Capital Management LLC purchased a 463,649 stake. A total of 1,352,683 shares of Amcor plc were bought by Charles Schwab Investment Managem during the quarter, and 430,628 were bought by Invesco Capital Management LLC. In its current portfolio, Federated Equity Management Compa holds 16,114,313 shares valued at $172.91 million.

In terms of Amcor plc share price expectations, FactSet research, analysts set an average price target of $11.94 in the next 12 months, up nearly 3.54% from the previous closing price of $11.59. Analysts anticipate Amcor plc stock to reach $14.00 by 2022, with the lowest price target being $9.96. In spite of this, 21 analysts ranked Amcor plc stock as a Hold at the end of 2022.


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