Checking in on Old Dominion Freight Line Inc. (ODFL) after recent insiders movement

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Old Dominion Freight Line Inc.’s recent filing unveils that its Executive Chairman CONGDON DAVID S unloaded Company’s shares for reported $8.52 million on Aug 03. In the deal valued at $296.24 per share,28,754 shares were sold. As a result of this transaction, CONGDON DAVID S now holds 780,815 shares worth roughly $ 212.31 million.


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Then, CONGDON DAVID S sold 6,246 shares, generating $1,874,674 in total proceeds. Upon selling the shares at $300.14, the Executive Chairman now owns 809,569 shares.

Before that, CONGDON DAVID S sold 25,525 shares. Old Dominion Freight Line Inc. shares valued at $8,980,208 were divested by the Executive Chairman at a price of $351.82 per share. As a result of the transaction, CONGDON DAVID S now holds 816,939 shares, worth roughly $222.13 million.

Vertical Research downgraded its Old Dominion Freight Line Inc. [ODFL] rating to a Sell from a a Hold in a research note published on Friday. PT values the company’s stock at a premium of -4.58 to its Friday closing price. A number of analysts have revised their coverage, including Wolfe Research’s analysts, who decreased its forecast for the stock in mid July from “a Peer perform” to “an Underperform”. Credit Suisse began covering ODFL with “Neutral” recommendation on June 28, 2022. Wells Fargo revised its rating on June 27, 2022. It rated ODFL as “an Overweight” which previously was an “an Equal weight”.

Price Performance Review of ODFL

On Friday, Old Dominion Freight Line Inc. [NASDAQ:ODFL] saw its stock jump 3.38% to $271.91. On the same session, the stock had its day’s lowest price of $264.67, but rose to a high of $272.02. Over the last five days, the stock has gained 0.48%. Old Dominion Freight Line Inc. shares have fallen nearly -24.13% since the year began. Nevertheless, the stocks have fallen -23.46% over the past one year. While a 52-week high of $373.58 was reached on 01/03/22, a 52-week low of $231.31 was recorded on 05/19/22. SMA at 50 days reached $264.80, while 200 days put it at $278.45. A total of 0.73 million shares were traded, compared to the trading of 1.06 million shares in the previous session.

Levels Of Support And Resistance For ODFL Stock

The 24-hour chart illustrates a support level at 267.05, which if violated will result in even more drops to 262.18. On the upside, there is a resistance level at 274.40. A further resistance level may holdings at 276.88. The Relative Strength Index (RSI) on the 14-day chart is 53.23, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -2.25, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 40.62%. Stochastics %K at 40.63% indicates the stock is a holding.

How much short interest is there in Old Dominion Freight Line Inc.?

A steep rise in short interest was recorded in Old Dominion Freight Line Inc. stocks on Jul 14, 2022, growing by 0.21 million shares to a total of 3.96 million shares. Yahoo Finance data shows the prior-month short interest on Jun 14, 2022 was 3.75 million shares. There was a rise of 5.3%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 3.90% of the overall stock float, the days-to-cover ratio (short ratio) rose to 4.75.

Old Dominion Freight Line Inc. [ODFL] – Who Are The Largest Shareholders?

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 10,411,539 shares, or roughly 9.32% of the outstanding ODFL shares. In other words, the investor’s shares have fallen by -60,621 from its previous 13-F filing of 10472160.0. Additionally, T. Rowe Price Associates, Inc. increased 56.69% of its stake after which the total value it holdings stand at $2,257,021,798, while Capital Research & Management Co added 25.46% of its stake to hold $1.84 billion in the firm. Over the last quarter, BlackRock Fund Advisors sold -412,638 shares of Old Dominion Freight Line Inc., while SSgA Funds Management, Inc. sold -155,685 shares. At present, Geode Capital Management LLC is holding 1,929,382 shares valued at $479.97 million. JPMorgan Investment Management, I owned 1,873,003 shares of the company at the time of its most recent 13F filing, worth $465.95 million.

The most recent change occurred on February 03, 2022 when Wells Fargo resumed its ‘”an Equal weight”‘ rating for the stock and retained the price target to $348.

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