Checking in on Westlake Corporation (WLK) after recent insiders movement

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Westlake Corporation’s filing revealed that its EVP, HIP, IT & Digital Buesinger Robert F. unloaded Company’s shares for reported $98940.0 on Aug 31. In the deal valued at $98.94 per share,1,000 shares were sold. As a result of this transaction, Buesinger Robert F. now holds 10,208 shares worth roughly $ 1.02 million.


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Then, Zoeller Johnathan Stevan sold 542 shares, generating $58,037 in total proceeds. Upon selling the shares at $107.08, the VP & Chief Accounting Officer now owns 543 shares.

Before that, Buesinger Robert F. sold 14,427 shares. Westlake Corporation shares valued at $1,867,820 were divested by the EVP, HIP, IT & Digital at a price of $129.47 per share. As a result of the transaction, Buesinger Robert F. now holds 11,780 shares, worth roughly $1.17 million.

Deutsche Bank downgraded its Westlake Corporation [WLK] rating to a Hold from a a Buy in a research note published on Monday, October 17, 2022; the price target was decreased to $95 from $100. PT values the company’s stock at a premium of -4.98 to its Monday closing price. A number of analysts have revised their coverage, including Goldman’s analysts, who began to cover the stock in mid October with a ‘”a Neutral”‘ rating. UBS also remained covering WLK and has increased its forecast on October 06, 2022 with a “Neutral” recommendation from previously “Sell” rating. Citigroup revised its rating on October 05, 2022. It rated WLK as “a Sell” which previously was an “a Neutral”.

Price Performance Review of WLK

On Monday, Westlake Corporation [NYSE:WLK] saw its stock fall -0.28% to $99.73. On the same session, the stock had its day’s lowest price of $97.90, but rose to a high of $100.715. Over the last five days, the stock has gained 3.19%. Westlake Corporation shares have risen nearly 2.68% since the year began. Nevertheless, the stocks have risen 0.56% over the past one year. While a 52-week high of $141.19 was reached on 05/05/22, a 52-week low of $81.29 was recorded on 09/23/22. SMA at 50 days reached $93.00, while 200 days put it at $107.45. A total of 1.17 million shares were traded, compared to the trading of 1.05 million shares in the previous session.

Levels Of Support And Resistance For WLK Stock

The 24-hour chart illustrates a support level at 98.18, which if violated will result in even more drops to 96.63. On the upside, there is a resistance level at 101.00. A further resistance level may holdings at 102.26. The Relative Strength Index (RSI) on the 14-day chart is 59.82, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 1.35, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 7.70%. Stochastics %K at 76.83% indicates the stock is a holding.

How much short interest is there in Westlake Corporation?

A steep rise in short interest was recorded in Westlake Corporation stocks on Jul 14, 2022, dropping by -0.17 million shares to a total of 1.78 million shares. Yahoo Finance data shows the prior-month short interest on Jun 14, 2022 was 1.95 million shares. There was a decline of -9.55%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 5.38% of the overall stock float, the days-to-cover ratio (short ratio) fell to 1.96.

Westlake Corporation [WLK] – Who Are The Largest Shareholders?

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 3,538,163 shares, or roughly 2.77% of the outstanding WLK shares. In other words, the investor’s shares have fallen by -421,907 from its previous 13-F filing of 3960070.0. Additionally, Victory Capital Management, Inc. increased 5.95% of its stake after which the total value it holdings stand at $262,260,312, while Fidelity Management & Research Co added 70.15% of its stake to hold $253.65 million in the firm. Over the last quarter, Dimensional Fund Advisors LP sold -2,194 shares of Westlake Corporation, while Soroban Capital Partners LP sold 226,275 shares. At present, BlackRock Fund Advisors is holding 1,428,896 shares valued at $124.14 million. First Trust Advisors LP owned 891,266 shares of the company at the time of its most recent 13F filing, worth $77.43 million.

The most recent change occurred on September 06, 2022 when Credit Suisse began covering the stock and recommended ‘”an Outperform”‘ rating along with a $120 price target.

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