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. MasterBrand Inc. shares valued at $12,608 were purchased by GOLDMAN SACHS GROUP INC on Jan 23. At $8.51 per share, GOLDMAN SACHS GROUP INC acquired 1,481 shares. The insider’s holdings grew to 15,779,507 shares worth approximately $130.81 million following the completion of this transaction.
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Also, GOLDMAN SACHS GROUP INC sold 1,362 shares, netting a total of over 11,703 in proceeds. Following the sale of shares at $8.59 each, the insider now holds 15,778,583 shares.
Analyzing MBC Stock Performance
On Wednesday, MasterBrand Inc. [NYSE: MBC] plunged -3.72% to $8.29. The stock’s lowest price that day was $8.105, but it reached a high of $8.53 in the same session. During the last five days, there has been a drop of approximately -11.15%. Over the course of the year, MasterBrand Inc. shares have jumped approximately 9.80%.
Support And Resistance Levels for MasterBrand Inc. (MBC)
According to the 24-hour chart, there is a support level at 8.09, which, if violated, would cause prices to drop to 7.88. In the upper region, resistance lies at 8.51. The next price resistance is at 8.73. RSI (Relative Strength Index) is 29.62 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.87, which suggests the price will decrease in the coming days. Percent R is at 90.66%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is MasterBrand Inc. subject to short interest?
Stocks of MasterBrand Inc. saw a sharp rise in short interest on Jan 30, 2023 jumping by 0.49 million shares to 5.21 million. Data from Yahoo Finance shows that the short interest on Dec 29, 2022 was 4.72 million shares. A jump of 9.4% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 2.74 of the overall float, the days-to-cover ratio (short ratio) jumped to 2.74.
Which companies own the most shares of MasterBrand Inc. (MBC)?
According to BlackRock Fund Advisors filings, the company currently owns 17,125,526 shares, which is about 13.38% of the total MBC shares outstanding. With the completion of the buy transaction, Goldman Sachs & Co. LLC’s stake is now worth $153,685,181. In its current portfolio, SSgA Funds Management, Inc. holds 4,175,448 shares valued at $40.67 million.
In terms of MasterBrand Inc. share price expectations, FactSet research, analysts set an average price target of $9.00 in the next 12 months, up nearly 4.53% from the previous closing price of $8.61. Analysts anticipate MasterBrand Inc. stock to reach $9.00 by 2023, with the lowest price target being $9.00. In spite of this, 1 analysts ranked MasterBrand Inc. stock as a Hold at the end of 2023.