Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Gaming and Leisure Properties Inc. shares valued at $162,000 were sold by Moore Brandon John on Feb 01. At $54.00 per share, Moore Brandon John sold 3,000 shares. The insider’s holdings dropped to 215,981 shares worth approximately $11.64 million following the completion of this transaction.
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Also, Demchyk Matthew sold 1,412 shares, netting a total of over 76,262 in proceeds. Following the sale of shares at $54.01 each, the insider now holds 32,904 shares.
Before that, Demchyk Matthew had sold 1,961 shares from its account. In a trade valued at $102,501, the SVP, Chief Investment Officer traded Gaming and Leisure Properties Inc. shares for $52.27 each. Upon closing the transaction, the insider’s holdings decreased to 1,961 shares, worth approximately $1.85 million.
As published in a research note from Truist on January 11, 2023, Gaming and Leisure Properties Inc. [GLPI] has been rated up from a Hold to a Buy and the price target has been revised to $60 from $54. This represents a 10.15% premium over Wednesday’s closing price. Analysts at Raymond James downgraded the stock from ‘”a Strong buy”‘ to ‘”an Outperform”‘ outlook in a report released in early January. As of September 23, 2022, JMP Securities has initiated its “Mkt outperform” rating for GLPI. Earlier on September 19, 2022, RBC Capital Mkts initiated its rating. Their recommendation was “an Outperform” for GLPI stock.
Analyzing GLPI Stock Performance
On Wednesday, Gaming and Leisure Properties Inc. [NASDAQ: GLPI] rose 0.06% to $53.91. The stock’s lowest price that day was $53.26, but it reached a high of $54.04 in the same session. During the last five days, there has been a surge of approximately 2.08%. Over the course of the year, Gaming and Leisure Properties Inc. shares have jumped approximately 3.49%. Shares of the company reached a 52-week high of $54.46 on 02/02/23 and a 52-week low of $49.62 on 01/05/23. A 50-day SMA is recorded $52.59, while a 200-day SMA reached $49.62. Nevertheless, trading volume fell to 0.91 million shares from 1.27 million shares the previous day.
Support And Resistance Levels for Gaming and Leisure Properties Inc. (GLPI)
According to the 24-hour chart, there is a support level at 53.43, which, if violated, would cause prices to drop to 52.96. In the upper region, resistance lies at 54.21. The next price resistance is at 54.52. RSI (Relative Strength Index) is 60.32 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.65, which suggests the price will decrease in the coming days. Percent R is at 18.20%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Gaming and Leisure Properties Inc. subject to short interest?
Stocks of Gaming and Leisure Properties Inc. saw a sharp rise in short interest on Jan 30, 2023 jumping by 1.13 million shares to 5.78 million. Data from Yahoo Finance shows that the short interest on Dec 29, 2022 was 4.65 million shares. A jump of 19.55% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 5.4 of the overall float, the days-to-cover ratio (short ratio) jumped to 5.4.
Which companies own the most shares of Gaming and Leisure Properties Inc. (GLPI)?
According to The Vanguard Group, Inc. filings, the company currently owns 36,061,869 shares, which is about 14.00% of the total GLPI shares outstanding. The investor’s shares have appreciated by 431,810 from its previous 13-F filing of 35630059.0 shares. With the completion of the buy transaction, Capital Research & Management Co’s stake is now worth $957,473,910. BlackRock Fund Advisors acquire a 11.50% interest valued at $684.7 million while Wellington Management Co. LLP purchased a 1,665,960 stake. A total of -2,679,313 shares of Gaming and Leisure Properties Inc. were bought by Capital Research & Management Co during the quarter, and 816,740 were bought by Putnam Investment Management LLC. In its current portfolio, BAMCO, Inc. holds 8,886,021 shares valued at $475.94 million.