Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Membership Collective Group Inc. shares valued at $13 were sold by Carnie Andrew on Jul 27. At $6.45 per share, Carnie Andrew sold 2 shares. The insider’s holdings dropped to 1,673,206 shares worth approximately $7.7 million following the completion of this transaction.
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Also, Kuczmarski Martin sold 4,324 shares, netting a total of over 28,156 in proceeds. Following the sale of shares at $6.51 each, the insider now holds 635,191 shares.
Before that, Carnie Andrew had sold 17,296 shares from its account. In a trade valued at $112,623, the President traded Membership Collective Group Inc. shares for $6.51 each. Upon closing the transaction, the insider’s holdings decreased to 17,296 shares, worth approximately $7.7 million.
As published in a research note from BofA Securities on October 04, 2022, Membership Collective Group Inc. [MCG] has been rated down from a Buy to an Underperform and the price target has been revised to $4 from $12. This represents a -15.0% premium over Thursday’s closing price. Analysts at Goldman downgraded the stock from ‘”a Neutral”‘ to ‘”a Sell”‘ outlook in a report released in mid December. As of September 23, 2021, HSBC Securities has initiated its “Buy” rating for MCG.
Analyzing MCG Stock Performance
On Thursday, Membership Collective Group Inc. [NYSE: MCG] rose 2.22% to $4.60. The stock’s lowest price that day was $4.435, but it reached a high of $4.82 in the same session. During the last five days, there has been a surge of approximately 10.31%. Over the course of the year, Membership Collective Group Inc. shares have dropped approximately -64.01%. Shares of the company reached a 52-week high of $13.06 on 01/04/22 and a 52-week low of $3.14 on 10/04/22. A 50-day SMA is recorded $4.95, while a 200-day SMA reached $6.96. Nevertheless, trading volume fell to 0.91 million shares from 0.27 million shares the previous day.
Support And Resistance Levels for Membership Collective Group Inc. (MCG)
According to the 24-hour chart, there is a support level at 4.42, which, if violated, would cause prices to drop to 4.23. In the upper region, resistance lies at 4.80. The next price resistance is at 5.00. RSI (Relative Strength Index) is 50.99 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.25, which suggests the price will decrease in the coming days. Percent R is at 41.00%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Membership Collective Group Inc. subject to short interest?
Stocks of Membership Collective Group Inc. saw a sharp steep in short interest on Jul 14, 2022 dropping by -0.11 million shares to 2.94 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 3.05 million shares. A decline of -3.74% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 9.34 of the overall float, the days-to-cover ratio (short ratio) decline to 9.34.
Which companies own the most shares of Membership Collective Group Inc. (MCG)?
According to Goldman Sachs & Co. LLC filings, the company currently owns 15,651,456 shares, which is about 26.79% of the total MCG shares outstanding. With the completion of the sale transaction, Pelham Capital Ltd.’s stake is now worth $38,621,740. Third Point LLC reduced a -7.46% interest valued at $16.38 million while Lansdowne Partners sold a -39,555 stake. A total of -134,202 shares of Membership Collective Group Inc. were sold by Newton Investment Management Nort during the quarter, and -65,474 were sold by Morgan Stanley Investment Managem. In its current portfolio, BAMCO, Inc. holds 1,030,000 shares valued at $4.86 million.
In terms of Membership Collective Group Inc. share price expectations, FactSet research, analysts set an average price target of $7.25 in the next 12 months, up nearly 77.78% from the previous closing price of $4.50. Analysts anticipate Membership Collective Group Inc. stock to reach $9.00 by 2022, with the lowest price target being $4.00. In spite of this, 5 analysts ranked Membership Collective Group Inc. stock as an Overweight at the end of 2022.