Buying Buzz: RLJ Lodging Trust [RLJ] Director Gibson Patricia L purchases 5,000 shares of the company


Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. RLJ Lodging Trust shares valued at $52,350 were purchased by Gibson Patricia L on Sep 23. At $10.47 per share, Gibson Patricia L acquired 5,000 shares. The insider’s holdings grew to 79,635 shares worth approximately $0.91 million following the completion of this transaction.

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Also, DAVIS NATHANIEL A sold 40,000 shares, netting a total of over 576,000 in proceeds. Following the sale of shares at $14.40 each, the insider now holds 62,674 shares.

As published in their initiating research note from Oppenheimer on April 22, 2022, RLJ Lodging Trust [RLJ] has been an Outperform and the price target has been revised to $20. This represents a 42.95% premium over Wednesday’s closing price. Analysts at Robert W. Baird upgraded the stock from ‘”a Neutral”‘ to ‘”an Outperform”‘ outlook in a report released in mid January. As of April 14, 2021, Truist has increased its “Hold” rating to a “Buy” for RLJ. Earlier on March 01, 2021, Compass Point upgraded its rating. Their new recommendation was “a Buy” for RLJ stock which previously was a “a Neutral”.

Analyzing RLJ Stock Performance

On Wednesday, RLJ Lodging Trust [NYSE: RLJ] rose 0.62% to $11.41. The stock’s lowest price that day was $11.305, but it reached a high of $11.565 in the same session. During the last five days, there has been a surge of approximately 0.97%. Over the course of the year, RLJ Lodging Trust shares have jumped approximately 7.74%. Shares of the company reached a 52-week high of $12.92 on 02/02/23 and a 52-week low of $10.37 on 01/05/23. A 50-day SMA is recorded $11.43, while a 200-day SMA reached $11.80. Nevertheless, trading volume fell to 1.77 million shares from 3.19 million shares the previous day.

Support And Resistance Levels for RLJ Lodging Trust (RLJ)

According to the 24-hour chart, there is a support level at 11.29, which, if violated, would cause prices to drop to 11.17. In the upper region, resistance lies at 11.55. The next price resistance is at 11.69. RSI (Relative Strength Index) is 43.44 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 67.14%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.

Is RLJ Lodging Trust subject to short interest?

Stocks of RLJ Lodging Trust saw a sharp steep in short interest on Jan 12, 2023 dropping by -2.2 million shares to 8.39 million. Data from Yahoo Finance shows that the short interest on Dec 14, 2022 was 10.59 million shares. A decline of -26.22% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 5.52 of the overall float, the days-to-cover ratio (short ratio) decline to 5.52.

Which companies own the most shares of RLJ Lodging Trust (RLJ)?

According to The Vanguard Group, Inc. filings, the company currently owns 23,896,124 shares, which is about 14.75% of the total RLJ shares outstanding. The investor’s shares have appreciated by 225,733 from its previous 13-F filing of 23670391.0 shares. With the completion of the buy transaction, BlackRock Fund Advisors’s stake is now worth $157,375,834. FIAM LLC reduced a -6.20% interest valued at $123.63 million while SSgA Funds Management, Inc. sold a -37,433 stake. A total of 280,028 shares of RLJ Lodging Trust were sold by Goldman Sachs Asset Management LP during the quarter, and -87,312 were sold by Morgan Stanley & Co. LLC. In its current portfolio, H/2 Credit Manager LP holds 4,604,257 shares valued at $57.88 million.

In terms of RLJ Lodging Trust share price expectations, FactSet research, analysts set an average price target of $14.67 in the next 12 months, up nearly 32.28% from the previous closing price of $11.34. Analysts anticipate RLJ Lodging Trust stock to reach $18.00 by 2023, with the lowest price target being $12.00. In spite of this, 10 analysts ranked RLJ Lodging Trust stock as an Overweight at the end of 2023.


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