The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Graphic Packaging Holding Company shares valued at $1,439,400 were sold by Yost Joseph P on Feb 28. At $23.99 per share, Yost Joseph P sold 60,000 shares. The insider’s holdings dropped to 209,250 shares worth approximately $5.11 million following the completion of this transaction.
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Also, Wentworth Lynn A sold 24,200 shares, netting a total of over 543,532 in proceeds. Following the sale of shares at $22.46 each, the insider now holds 92,021 shares.
Before that, Farrell Michael James had sold 12,779 shares from its account. In a trade valued at $298,390, the EVP, Mills Division traded Graphic Packaging Holding Company shares for $23.35 each. Upon closing the transaction, the insider’s holdings decreased to 12,779 shares, worth approximately $1.1 million.
As published in a research note from BMO Capital Markets on May 27, 2022, Graphic Packaging Holding Company [GPK] has been rated up from a Market perform to an Outperform and the price target has been revised to $25 from $20. This represents a 2.28% premium over Thursday’s closing price. Analysts at Exane BNP Paribas upgraded the stock from ‘”a Neutral”‘ to ‘”an Outperform”‘ outlook in a report released in early May. As of January 18, 2022, KeyBanc Capital Markets has decreased its “Sector weight” rating to a “an Underweight” for GPK. Earlier on December 20, 2021, BMO Capital Markets downgraded its rating. Their new recommendation was “a Market perform” for GPK stock which previously was a “an Outperform”.
Analyzing GPK Stock Performance
On Thursday, Graphic Packaging Holding Company [NYSE: GPK] rose 0.21% to $24.43. The stock’s lowest price that day was $24.02, but it reached a high of $24.47 in the same session. During the last five days, there has been a surge of approximately 3.69%. Over the course of the year, Graphic Packaging Holding Company shares have jumped approximately 9.80%. Shares of the company reached a 52-week high of $24.47 on 03/02/23 and a 52-week low of $21.10 on 02/07/23. A 50-day SMA is recorded $22.91, while a 200-day SMA reached $22.05. Nevertheless, trading volume fell to 2.94 million shares from 4.27 million shares the previous day.
Support And Resistance Levels for Graphic Packaging Holding Company (GPK)
According to the 24-hour chart, there is a support level at 24.14, which, if violated, would cause prices to drop to 23.86. In the upper region, resistance lies at 24.59. The next price resistance is at 24.76. RSI (Relative Strength Index) is 63.81 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.54, which suggests the price will decrease in the coming days. Percent R is at 2.52%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
Is Graphic Packaging Holding Company subject to short interest?
Stocks of Graphic Packaging Holding Company saw a sharp steep in short interest on Jan 12, 2023 dropping by -0.44 million shares to 6.28 million. Data from Yahoo Finance shows that the short interest on Dec 14, 2022 was 6.72 million shares. A decline of -7.01% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 2.15 of the overall float, the days-to-cover ratio (short ratio) decline to 2.15.
Which companies own the most shares of Graphic Packaging Holding Company (GPK)?
According to The Vanguard Group, Inc. filings, the company currently owns 29,236,194 shares, which is about 9.52% of the total GPK shares outstanding. The investor’s shares have appreciated by 548,434 from its previous 13-F filing of 28687760.0 shares. With the completion of the sale transaction, Fuller & Thaler Asset Management,’s stake is now worth $404,641,489. Wellington Management Co. LLP acquire a 22.53% interest valued at $288.31 million while BlackRock Fund Advisors purchased a 804,211 stake. A total of -4,242,880 shares of Graphic Packaging Holding Company were bought by Norges Bank Investment Management during the quarter, and -90,209 were sold by Massachusetts Financial Services. In its current portfolio, Shapiro Capital Management LLC holds 8,894,161 shares valued at $214.26 million.
In spite of this, 13 analysts ranked Graphic Packaging Holding Company stock as a Buy at the end of 2023. On November 24, 2021, Raymond James assigned a price target of “a Strong buy” to the stock and initiated coverage with a $24.50.