Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Boot Barn Holdings Inc. shares valued at $4,604,430 were sold by Conroy James Grant on Feb 10. At $80.95 per share, Conroy James Grant sold 56,880 shares. The insider’s holdings dropped to 35,701 shares worth approximately $2.8 million following the completion of this transaction.
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Also, Watkins James M purchased 2,500 shares, netting a total of over 130,838 in proceeds. Following the buying of shares at $52.34 each, the insider now holds 11,730 shares.
Before that, STARRETT PETER had added 4,000 shares to its account. In a trade valued at $283,505, the Director bought Boot Barn Holdings Inc. shares for $70.88 each. Upon closing the transaction, the insider’s holdings increased to 4,000 shares, worth approximately $1.16 million.
As published in their initiating research note from BTIG Research on February 07, 2023, Boot Barn Holdings Inc. [BOOT] has been a Buy and the price target has been revised to $110. This represents a 28.64% premium over Wednesday’s closing price. Analysts at Robert W. Baird downgraded the stock from ‘”an Outperform”‘ to ‘”a Neutral”‘ outlook in a report released in late January. As of January 06, 2023, BofA Securities has initiated its “Buy” rating for BOOT. Earlier on August 11, 2022, Seaport Research Partners upgraded its rating. Their new recommendation was “a Buy” for BOOT stock which previously was a “a Neutral”.
Analyzing BOOT Stock Performance
On Wednesday, Boot Barn Holdings Inc. [NYSE: BOOT] plunged -0.05% to $78.50. The stock’s lowest price that day was $76.995, but it reached a high of $79.26 in the same session. During the last five days, there has been a surge of approximately 2.45%. Over the course of the year, Boot Barn Holdings Inc. shares have jumped approximately 25.56%. Shares of the company reached a 52-week high of $88.80 on 02/02/23 and a 52-week low of $59.21 on 01/06/23. A 50-day SMA is recorded $75.89, while a 200-day SMA reached $68.69. Nevertheless, trading volume fell to 0.54 million shares from 0.86 million shares the previous day.
Support And Resistance Levels for Boot Barn Holdings Inc. (BOOT)
According to the 24-hour chart, there is a support level at 77.24, which, if violated, would cause prices to drop to 75.99. In the upper region, resistance lies at 79.51. The next price resistance is at 80.52. RSI (Relative Strength Index) is 50.45 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.66, which suggests the price will decrease in the coming days. Percent R is at 54.47%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Boot Barn Holdings Inc. subject to short interest?
Stocks of Boot Barn Holdings Inc. saw a sharp rise in short interest on Jan 12, 2023 jumping by 0.25 million shares to 2.43 million. Data from Yahoo Finance shows that the short interest on Dec 14, 2022 was 2.18 million shares. A jump of 10.29% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 3.1 of the overall float, the days-to-cover ratio (short ratio) jumped to 3.1.
Which companies own the most shares of Boot Barn Holdings Inc. (BOOT)?
According to BlackRock Fund Advisors filings, the company currently owns 4,428,670 shares, which is about 14.85% of the total BOOT shares outstanding. The investor’s shares have appreciated by 169,662 from its previous 13-F filing of 4259008.0 shares. With the completion of the sale transaction, The Vanguard Group, Inc.’s stake is now worth $219,446,285. Wasatch Advisors, Inc. reduced a -2.03% interest valued at $143.64 million while Marshall Wace LLP purchased a 245,524 stake. A total of 51,810 shares of Boot Barn Holdings Inc. were bought by SSgA Funds Management, Inc. during the quarter, and 63,802 were bought by Dimensional Fund Advisors LP. In its current portfolio, Holocene Advisors, LP holds 1,016,435 shares valued at $84.86 million.
In terms of Boot Barn Holdings Inc. share price expectations, FactSet research, analysts set an average price target of $93.77 in the next 12 months, up nearly 14.59% from the previous closing price of $78.54. Analysts anticipate Boot Barn Holdings Inc. stock to reach $110.00 by 2023, with the lowest price target being $77.00. In spite of this, 14 analysts ranked Boot Barn Holdings Inc. stock as a Buy at the end of 2023. On May 27, 2022, Robert W. Baird assigned a price target of “an Outperform” to the stock and upgraded coverage with a $115.