Director Whitaker Jerry R. acquired 500 shares of Sealed Air Corporation [SEE]

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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. Sealed Air Corporation shares valued at $21,780 were purchased by Whitaker Jerry R. on Nov 04. At $43.56 per share, Whitaker Jerry R. acquired 500 shares. The insider’s holdings grew to 10,521 shares worth approximately $0.47 million following the completion of this transaction.


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Also, Ahmad Zubaid purchased 1,200 shares, netting a total of over 50,544 in proceeds. Following the buying of shares at $42.12 each, the insider now holds 1,200 shares.

Before that, Pupkin Sergio A had added 1,000 shares to its account. In a trade valued at $44,330, the Senior Vice President bought Sealed Air Corporation shares for $44.33 each. Upon closing the transaction, the insider’s holdings increased to 1,000 shares, worth approximately $2.09 million.

As published in a research note from UBS on January 24, 2023, Sealed Air Corporation [SEE] has been rated down from a Buy to a Neutral and the price target has been revised to $59 from $65. This represents a 24.12% premium over Wednesday’s closing price. Analysts at Truist downgraded the stock from ‘”a Buy”‘ to ‘”a Hold”‘ outlook in a report released in early January. As of January 04, 2023, Citigroup has decreased its “Buy” rating to a “Neutral” for SEE. Earlier on August 30, 2022, JP Morgan upgraded its rating. Their new recommendation was “a Neutral” for SEE stock which previously was a “an Underweight”.

Analyzing SEE Stock Performance

On Wednesday, Sealed Air Corporation [NYSE: SEE] plunged -1.21% to $44.77. The stock’s lowest price that day was $44.23, but it reached a high of $45.29 in the same session. During the last five days, there has been a drop of approximately -5.89%. Over the course of the year, Sealed Air Corporation shares have dropped approximately -10.24%. Shares of the company reached a 52-week high of $56.43 on 02/02/23 and a 52-week low of $44.23 on 03/15/23. A 50-day SMA is recorded $51.03, while a 200-day SMA reached $52.57. Nevertheless, trading volume fell to 1.4 million shares from 1.08 million shares the previous day.

Support And Resistance Levels for Sealed Air Corporation (SEE)

According to the 24-hour chart, there is a support level at 44.24, which, if violated, would cause prices to drop to 43.70. In the upper region, resistance lies at 45.30. The next price resistance is at 45.82. RSI (Relative Strength Index) is 28.43 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -2.44, which suggests the price will decrease in the coming days. Percent R is at 90.88%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

Is Sealed Air Corporation subject to short interest?

Stocks of Sealed Air Corporation saw a sharp rise in short interest on Jan 12, 2023 jumping by 0.56 million shares to 3.01 million. Data from Yahoo Finance shows that the short interest on Dec 14, 2022 was 2.45 million shares. A jump of 18.6% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 3.42 of the overall float, the days-to-cover ratio (short ratio) jumped to 3.42.

Which companies own the most shares of Sealed Air Corporation (SEE)?

According to The Vanguard Group, Inc. filings, the company currently owns 16,269,349 shares, which is about 11.30% of the total SEE shares outstanding. The investor’s shares have appreciated by 181,554 from its previous 13-F filing of 16087795.0 shares. With the completion of the buy transaction, T. Rowe Price Investment Manageme’s stake is now worth $523,643,769. BlackRock Fund Advisors acquire a 2.19% interest valued at $388.94 million while Janus Henderson Investors US LLC purchased a 306,139 stake. A total of 845,576 shares of Sealed Air Corporation were bought by BlackRock Advisors LLC during the quarter, and -303,938 were sold by SSgA Funds Management, Inc. In its current portfolio, BlackRock Investment Management L holds 3,349,272 shares valued at $162.84 million.

In terms of Sealed Air Corporation share price expectations, FactSet research, analysts set an average price target of $57.38 in the next 12 months, up nearly 27.98% from the previous closing price of $45.32. Analysts anticipate Sealed Air Corporation stock to reach $66.00 by 2023, with the lowest price target being $50.00. In spite of this, 17 analysts ranked Sealed Air Corporation stock as an Overweight at the end of 2023. On August 03, 2022, RBC Capital Mkts assigned a price target of “an Outperform” to the stock and upgraded coverage with a $70.

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