Insider Selling: Comings Douglas N., Brinker International Inc. [EAT] SVP & COO, Chili’s divested 500 shares


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. Brinker International Inc. shares valued at $20,255 were sold by Comings Douglas N. on Feb 08. At $40.51 per share, Comings Douglas N. sold 500 shares. The insider’s holdings dropped to 31,421 shares worth approximately $1.14 million following the completion of this transaction.

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Also, Allen Wade sold 347 shares, netting a total of over 14,133 in proceeds. Following the sale of shares at $40.73 each, the insider now holds 24,763 shares.

Before that, Allen Wade had sold 3,537 shares from its account. In a trade valued at $141,268, the SVP, Chief Digital Officer traded Brinker International Inc. shares for $39.94 each. Upon closing the transaction, the insider’s holdings decreased to 3,537 shares, worth approximately $0.91 million.

As published in a research note from Jefferies on December 21, 2022, Brinker International Inc. [EAT] has been rated down from a Buy to a Hold and the price target has been revised to $35 from $38. This represents a -3.26% premium over Thursday’s closing price. Analysts at Goldman downgraded the stock from ‘”a Neutral”‘ to ‘”a Sell”‘ outlook in a report released in mid December. As of August 18, 2022, KeyBanc Capital Markets has decreased its “an Overweight” rating to a “Sector weight” for EAT. Earlier on July 18, 2022, Goldman downgraded its rating. Their new recommendation was “a Neutral” for EAT stock which previously was a “a Buy”.

Analyzing EAT Stock Performance

On Thursday, Brinker International Inc. [NYSE: EAT] plunged -0.19% to $36.14. The stock’s lowest price that day was $35.33, but it reached a high of $37.56 in the same session. During the last five days, there has been a drop of approximately -0.77%. Over the course of the year, Brinker International Inc. shares have jumped approximately 13.26%. Shares of the company reached a 52-week high of $42.12 on 02/16/23 and a 52-week low of $31.83 on 01/03/23. A 50-day SMA is recorded $38.28, while a 200-day SMA reached $31.18. Nevertheless, trading volume fell to 1.12 million shares from 1.08 million shares the previous day.

Support And Resistance Levels for Brinker International Inc. (EAT)

According to the 24-hour chart, there is a support level at 35.13, which, if violated, would cause prices to drop to 34.11. In the upper region, resistance lies at 37.36. The next price resistance is at 38.57. RSI (Relative Strength Index) is 42.09 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.41, which suggests the price will decrease in the coming days. Percent R is at 52.43%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.

Is Brinker International Inc. subject to short interest?

Stocks of Brinker International Inc. saw a sharp steep in short interest on Jan 30, 2023 dropping by -0.67 million shares to 3.26 million. Data from Yahoo Finance shows that the short interest on Dec 29, 2022 was 3.93 million shares. A decline of -20.55% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 3.66 of the overall float, the days-to-cover ratio (short ratio) decline to 3.66.

Which companies own the most shares of Brinker International Inc. (EAT)?

According to BlackRock Fund Advisors filings, the company currently owns 6,590,564 shares, which is about 14.96% of the total EAT shares outstanding. The investor’s shares have appreciated by 71,863 from its previous 13-F filing of 6518701.0 shares. With the completion of the buy transaction, Fidelity Management & Research Co’s stake is now worth $218,884,788. The Vanguard Group, Inc. acquire a 0.14% interest valued at $191.58 million while Franklin Mutual Advisers LLC purchased a 935,827 stake. A total of 54,864 shares of Brinker International Inc. were bought by SSgA Funds Management, Inc. during the quarter, and 29,443 were bought by Holocene Advisors, LP. In its current portfolio, Macquarie Investment Management B holds 1,047,776 shares valued at $39.82 million.

In terms of Brinker International Inc. share price expectations, FactSet research, analysts set an average price target of $38.33 in the next 12 months, up nearly 10.47% from the previous closing price of $36.21. Analysts anticipate Brinker International Inc. stock to reach $46.00 by 2023, with the lowest price target being $29.00. In spite of this, 18 analysts ranked Brinker International Inc. stock as a Hold at the end of 2023. On June 27, 2022, BofA Securities assigned a price target of “an Underperform” to the stock and resumed coverage with a $26.


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