ACCO (ACCO Brands Corporation) may reap gains as insiders became active recently


ACCO Brands Corporation’s filing revealed that its EVP & Pres, ACCO Brands N.A. Bernstein Roxanne M acquired Company’s shares for reported $66200.0 on Aug 10. In the deal valued at $6.62 per share,10,000 shares were bought. As a result of this transaction, Bernstein Roxanne M now holds 10,000 shares worth roughly $ 46800.0.

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Then, Anderson Mark C sold 7,957 shares, generating $68,032 in total proceeds. Upon selling the shares at $8.55, the Sr VP, Corporate Development now owns 101,706 shares.

Before that, Tedford Thomas W sold 92,838 shares. ACCO Brands Corporation shares valued at $793,848 were divested by the President & COO at a price of $8.55 per share. As a result of the transaction, Tedford Thomas W now holds 278,327 shares, worth roughly $1.3 million.

KeyBanc Capital Markets upgraded its ACCO Brands Corporation [ACCO] rating to an Overweight from a a Sector weight in a research note published on Friday. PT values the company’s stock at a premium of 61.0 to its Friday closing price. A number of analysts have revised their coverage, including Barrington Research’s analysts, who remained covering the stock and in mid February has reiterated a ‘”an Outperform”‘ rating for it. BWS Financial began covering ACCO with “Buy” recommendation on January 25, 2017. Barrington Research maintained its rating on April 29, 2016. It rated ACCO as “an Outperform”.

Price Performance Review of ACCO

On Friday, ACCO Brands Corporation [NYSE:ACCO] saw its stock jump 2.86% to $4.68. On the same session, the stock had its day’s lowest price of $4.61, but rose to a high of $4.75. Over the last five days, the stock has lost -0.43%. ACCO Brands Corporation shares have fallen nearly -43.34% since the year began. Nevertheless, the stocks have fallen -47.77% over the past one year. While a 52-week high of $9.50 was reached on 02/18/22, a 52-week low of $4.27 was recorded on 10/24/22. SMA at 50 days reached $5.13, while 200 days put it at $6.91. A total of 0.81 million shares were traded, compared to the trading of 0.69 million shares in the previous session.

Levels Of Support And Resistance For ACCO Stock

The 24-hour chart illustrates a support level at 4.61, which if violated will result in even more drops to 4.54. On the upside, there is a resistance level at 4.75. A further resistance level may holdings at 4.82. The Relative Strength Index (RSI) on the 14-day chart is 45.75, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.07, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 21.15%. Stochastics %K at 62.82% indicates the stock is a holding.

How much short interest is there in ACCO Brands Corporation?

A steep rise in short interest was recorded in ACCO Brands Corporation stocks on Jul 14, 2022, growing by 0.2 million shares to a total of 3.45 million shares. Yahoo Finance data shows the prior-month short interest on Jun 14, 2022 was 3.25 million shares. There was a rise of 5.8%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 4.12% of the overall stock float, the days-to-cover ratio (short ratio) rose to 5.98.

ACCO Brands Corporation [ACCO] – Who Are The Largest Shareholders?

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 8,658,326 shares, or roughly 9.19% of the outstanding ACCO shares. In other words, the investor’s shares have risen by 354,577 from its previous 13-F filing of 8303749.0. Additionally, BlackRock Fund Advisors decreased -1.53% of its stake after which the total value it holdings stand at $36,794,742, while Dimensional Fund Advisors LP added 2.59% of its stake to hold $36.64 million in the firm. Over the last quarter, Wellington Management Co. LLP purchased 5,584 shares of ACCO Brands Corporation, while Allspring Global Investments LLC bought 452,962 shares. At present, LSV Asset Management is holding 3,560,600 shares valued at $17.45 million. Boston Partners Global Investors, owned 2,754,627 shares of the company at the time of its most recent 13F filing, worth $13.5 million.

According to FactSet, ACCO Brands Corporation’s share price will average $10.75 in the next year, based on opinions of analysts polled by the firm. This is up nearly 130.77 percent from its previous closing price of $4.55. Analysts expect ACCO Brands Corporation stock to reach the higher price of $15.00, while the lowest price estimate is $7.00. However, 3 analysts have rated ACCO stock as a Buy in their predictions for 2022. The most recent change occurred on January 18, 2013 when Barclays began covering the stock and recommended ‘”an Equal weight”‘ rating along with a $9 price target.


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