A company insider recently sold 1,601 shares of The Southern Company [SO]. Should You Sale?


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. The Southern Company shares valued at $100,143 were sold by DAVIS MARTIN BERNARD on Mar 01. At $62.55 per share, DAVIS MARTIN BERNARD sold 1,601 shares. The insider’s holdings dropped to 75,681 shares worth approximately $4.89 million following the completion of this transaction.

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Also, Cummiskey Christopher sold 1,282 shares, netting a total of over 85,381 in proceeds. Following the sale of shares at $66.60 each, the insider now holds 27,512 shares.

Before that, Cummiskey Christopher had sold 852 shares from its account. In a trade valued at $57,348, the EVP & CCCS Officer traded The Southern Company shares for $67.31 each. Upon closing the transaction, the insider’s holdings decreased to 852 shares, worth approximately $1.42 million.

As published in a research note from KeyBanc Capital Markets on January 17, 2023, The Southern Company [SO] has been rated down from an Overweight to a Sector weight. Analysts at Wolfe Research upgraded the stock from ‘”a Peer perform”‘ to ‘”an Outperform”‘ outlook in a report released in mid December. As of October 24, 2022, BofA Securities has decreased its “Neutral” rating to a “an Underperform” for SO. Earlier on October 20, 2022, KeyBanc Capital Markets upgraded its rating. Their new recommendation was “an Overweight” for SO stock which previously was a “a Sector weight”.

Analyzing SO Stock Performance

On Thursday, The Southern Company [NYSE: SO] plunged -0.28% to $64.55. The stock’s lowest price that day was $64.42, but it reached a high of $65.91 in the same session. During the last five days, there has been a surge of approximately 1.38%. Over the course of the year, The Southern Company shares have dropped approximately -9.61%. Shares of the company reached a 52-week high of $74.93 on 01/24/23 and a 52-week low of $58.85 on 01/24/23. A 50-day SMA is recorded $67.63, while a 200-day SMA reached $70.47. Nevertheless, trading volume fell to 3.55 million shares from 3.24 million shares the previous day.

Support And Resistance Levels for The Southern Company (SO)

According to the 24-hour chart, there is a support level at 64.01, which, if violated, would cause prices to drop to 63.47. In the upper region, resistance lies at 65.50. The next price resistance is at 66.45. RSI (Relative Strength Index) is 43.77 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.02, which suggests the price will decrease in the coming days. Percent R is at 46.13%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.

Is The Southern Company subject to short interest?

Stocks of The Southern Company saw a sharp rise in short interest on Jan 12, 2023 jumping by 0.5 million shares to 10.94 million. Data from Yahoo Finance shows that the short interest on Dec 14, 2022 was 10.44 million shares. A jump of 4.57% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 2.37 of the overall float, the days-to-cover ratio (short ratio) jumped to 2.37.

Which companies own the most shares of The Southern Company (SO)?

According to The Vanguard Group, Inc. filings, the company currently owns 92,956,888 shares, which is about 8.54% of the total SO shares outstanding. The investor’s shares have appreciated by 3,045,780 from its previous 13-F filing of 89911108.0 shares. With the completion of the buy transaction, SSgA Funds Management, Inc.’s stake is now worth $4,411,477,423. BlackRock Fund Advisors acquire a 9.60% interest valued at $4.15 billion while T. Rowe Price Associates, Inc. sold a -2,813,652 stake. A total of -1,096,715 shares of The Southern Company were sold by Massachusetts Financial Services during the quarter, and 584,893 were bought by Geode Capital Management LLC. In its current portfolio, Fidelity Management & Research Co holds 18,012,383 shares valued at $1.22 billion.

In terms of The Southern Company share price expectations, FactSet research, analysts set an average price target of $70.86 in the next 12 months, up nearly 10.46% from the previous closing price of $64.73. Analysts anticipate The Southern Company stock to reach $78.00 by 2023, with the lowest price target being $61.00. In spite of this, 18 analysts ranked The Southern Company stock as a Hold at the end of 2023. On August 04, 2022, UBS assigned a price target of “a Buy” to the stock and upgraded coverage with a $87.


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