Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Berry Global Group Inc. shares valued at $2,324,706 were sold by Miles Mark W on Mar 07. At $61.27 per share, Miles Mark W sold 37,942 shares. The insider’s holdings dropped to 47,058 shares worth approximately $2.64 million following the completion of this transaction.
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Also, Greene Jason K. sold 10,000 shares, netting a total of over 650,000 in proceeds. Following the sale of shares at $65.00 each, the insider now holds 250 shares.
Before that, Greene Jason K. had sold 10,000 shares from its account. In a trade valued at $620,000, the EVP – Chief Legal Officer traded Berry Global Group Inc. shares for $62.00 each. Upon closing the transaction, the insider’s holdings decreased to 10,000 shares, worth approximately $14042.5.
As published in a research note from Truist on January 05, 2023, Berry Global Group Inc. [BERY] has been rated down from a Buy to a Hold and the price target has been revised to $70. This represents a 19.76% premium over Thursday’s closing price. Analysts at Credit Suisse upgraded the stock from ‘”a Neutral”‘ to ‘”an Outperform”‘ outlook in a report released in mid July. Earlier on November 24, 2021, Raymond James initiated its rating. Their recommendation was “a Mkt perform” for BERY stock.
Analyzing BERY Stock Performance
On Thursday, Berry Global Group Inc. [NYSE: BERY] rose 1.46% to $56.17. The stock’s lowest price that day was $54.51, but it reached a high of $56.50 in the same session. During the last five days, there has been a drop of approximately -5.21%. Over the course of the year, Berry Global Group Inc. shares have dropped approximately -7.05%. Shares of the company reached a 52-week high of $66.21 on 02/02/23 and a 52-week low of $54.40 on 03/15/23. A 50-day SMA is recorded $61.07, while a 200-day SMA reached $56.07. Nevertheless, trading volume fell to 1.4 million shares from 0.65 million shares the previous day.
Support And Resistance Levels for Berry Global Group Inc. (BERY)
According to the 24-hour chart, there is a support level at 54.95, which, if violated, would cause prices to drop to 53.74. In the upper region, resistance lies at 56.94. The next price resistance is at 57.72. RSI (Relative Strength Index) is 33.27 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -3.74, which suggests the price will decrease in the coming days. Percent R is at 81.70%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is Berry Global Group Inc. subject to short interest?
Stocks of Berry Global Group Inc. saw a sharp rise in short interest on Jan 30, 2023 jumping by 0.15 million shares to 2.6 million. Data from Yahoo Finance shows that the short interest on Dec 29, 2022 was 2.45 million shares. A jump of 5.77% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 3.15 of the overall float, the days-to-cover ratio (short ratio) jumped to 3.15.
Which companies own the most shares of Berry Global Group Inc. (BERY)?
According to Edgepoint Investment Group, Inc. filings, the company currently owns 13,917,105 shares, which is about 11.46% of the total BERY shares outstanding. The investor’s shares have appreciated by 12,068 from its previous 13-F filing of 13905037.0 shares. With the completion of the buy transaction, The Vanguard Group, Inc.’s stake is now worth $756,037,133. Turtle Creek Asset Management, In reduced a -4.42% interest valued at $386.94 million while BlackRock Fund Advisors purchased a 27,202 stake. A total of 73,716 shares of Berry Global Group Inc. were bought by Fuller & Thaler Asset Management, during the quarter, and -180,832 were sold by LSV Asset Management. In its current portfolio, Massachusetts Financial Services holds 3,513,985 shares valued at $218.22 million.
In terms of Berry Global Group Inc. share price expectations, FactSet research, analysts set an average price target of $72.38 in the next 12 months, up nearly 33.67% from the previous closing price of $55.36. Analysts anticipate Berry Global Group Inc. stock to reach $82.00 by 2023, with the lowest price target being $60.00. In spite of this, 18 analysts ranked Berry Global Group Inc. stock as an Overweight at the end of 2023. On October 13, 2021, Mizuho assigned a price target of “a Neutral” to the stock and initiated coverage with a $70.