Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Levi Strauss & Co. shares valued at $90,507 were sold by Stirling Lisa on Jan 31. At $18.04 per share, Stirling Lisa sold 5,017 shares. The insider’s holdings dropped to 28,485 shares worth approximately $0.46 million following the completion of this transaction.
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Also, JAFFE SETH sold 11,442 shares, netting a total of over 177,008 in proceeds. Following the sale of shares at $15.47 each, the insider now holds 147,888 shares.
Before that, JAFFE SETH had sold 11,862 shares from its account. In a trade valued at $191,809, the EVP & General Counsel traded Levi Strauss & Co. shares for $16.17 each. Upon closing the transaction, the insider’s holdings decreased to 11,862 shares, worth approximately $2.39 million.
As published in a research note from JP Morgan on January 23, 2023, Levi Strauss & Co. [LEVI] has been rated down from an Overweight to a Neutral and the price target has been revised to $17 from $19. This represents a 5.18% premium over Thursday’s closing price. Analysts at BofA Securities downgraded the stock from ‘”a Buy”‘ to ‘”a Neutral”‘ outlook in a report released in mid January. As of January 11, 2023, Citigroup has decreased its “Buy” rating to a “Neutral” for LEVI. Earlier on December 12, 2022, Goldman downgraded its rating. Their new recommendation was “a Neutral” for LEVI stock which previously was a “a Buy”.
Analyzing LEVI Stock Performance
On Thursday, Levi Strauss & Co. [NYSE: LEVI] rose 1.77% to $16.12. The stock’s lowest price that day was $15.58, but it reached a high of $16.14 in the same session. During the last five days, there has been a drop of approximately -2.48%. Over the course of the year, Levi Strauss & Co. shares have jumped approximately 3.87%. Shares of the company reached a 52-week high of $19.35 on 02/03/23 and a 52-week low of $15.37 on 01/03/23. A 50-day SMA is recorded $17.27, while a 200-day SMA reached $16.93. Nevertheless, trading volume fell to 2.32 million shares from 1.69 million shares the previous day.
Support And Resistance Levels for Levi Strauss & Co. (LEVI)
According to the 24-hour chart, there is a support level at 15.75, which, if violated, would cause prices to drop to 15.39. In the upper region, resistance lies at 16.31. The next price resistance is at 16.51. RSI (Relative Strength Index) is 36.25 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.95, which suggests the price will decrease in the coming days. Percent R is at 75.66%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is Levi Strauss & Co. subject to short interest?
Stocks of Levi Strauss & Co. saw a sharp steep in short interest on Jan 12, 2023 dropping by -0.4 million shares to 7.55 million. Data from Yahoo Finance shows that the short interest on Dec 14, 2022 was 7.95 million shares. A decline of -5.3% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 4.86 of the overall float, the days-to-cover ratio (short ratio) decline to 4.86.
Which companies own the most shares of Levi Strauss & Co. (LEVI)?
According to Wellington Management Co. LLP filings, the company currently owns 7,831,876 shares, which is about 8.11% of the total LEVI shares outstanding. The investor’s shares have appreciated by 48,254 from its previous 13-F filing of 7783622.0 shares. With the completion of the sale transaction, The Vanguard Group, Inc.’s stake is now worth $139,067,453. Macquarie Investment Management B acquire a 3.10% interest valued at $96.21 million while Capital Research & Management Co purchased a 1,345,300 stake. A total of -501,954 shares of Levi Strauss & Co. were bought by Parnassus Investments LLC during the quarter, and 16,787 were bought by Putnam Investment Management LLC. In its current portfolio, Threadneedle Asset Management Ltd holds 3,206,413 shares valued at $57.52 million.