Negative sentiment towards ALLE reflected by a jump of 27.56% in short interest

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Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Allegion plc shares valued at $251,347 were sold by Braun Jeffrey N on May 03. At $110.34 per share, Braun Jeffrey N sold 2,278 shares. The insider’s holdings dropped to 11,336 shares worth approximately $1.19 million following the completion of this transaction.

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Also, Braun Jeffrey N sold 1,354 shares, netting a total of over 153,771 in proceeds. Following the sale of shares at $113.57 each, the insider now holds 11,634 shares.

Before that, Stone John H had added 12,500 shares to its account. In a trade valued at $1,305,612, the President and CEO bought Allegion plc shares for $104.45 each. Upon closing the transaction, the insider’s holdings increased to 12,500 shares, worth approximately $6.79 million.

Analyzing ALLE Stock Performance

On Thursday, Allegion plc [NYSE: ALLE] plunged -0.97% to $105.25. The stock’s lowest price that day was $104.43, but it reached a high of $106.78 in the same session. During the last five days, there has been a drop of approximately -4.74%. Over the course of the year, Allegion plc shares have dropped approximately -0.01%. Shares of the company reached a 52-week high of $123.46 on 02/02/23 and a 52-week low of $98.00 on 04/05/23. A 50-day SMA is recorded $105.60, while a 200-day SMA reached $105.83. Nevertheless, trading volume fell to 0.6 million shares from 0.49 million shares the previous day.

Support And Resistance Levels for Allegion plc (ALLE)

According to the 24-hour chart, there is a support level at 104.19, which, if violated, would cause prices to drop to 103.14. In the upper region, resistance lies at 106.54. The next price resistance is at 107.84. RSI (Relative Strength Index) is 43.20 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.77, which suggests the price will decrease in the coming days. Percent R is at 88.74%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

Is Allegion plc subject to short interest?

Stocks of Allegion plc saw a sharp rise in short interest on May 14, 2023 jumping by 0.7 million shares to 2.54 million. Data from Yahoo Finance shows that the short interest on Apr 13, 2023 was 1.84 million shares. A jump of 27.56% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 2.91 of the overall float, the days-to-cover ratio (short ratio) jumped to 2.91.

Which companies own the most shares of Allegion plc (ALLE)?

According to The Vanguard Group, Inc. filings, the company currently owns 10,266,975 shares, which is about 11.67% of the total ALLE shares outstanding. The investor’s shares have appreciated by 74,059 from its previous 13-F filing of 10192916.0 shares. With the completion of the buy transaction, BlackRock Fund Advisors’s stake is now worth $603,285,210. APG Asset Management NV acquire a 0.42% interest valued at $597.47 million while Boston Partners Global Investors, sold a -4,479 stake. A total of -26,711 shares of Allegion plc were sold by SSgA Funds Management, Inc. during the quarter, and 48,002 were bought by Kayne Anderson Rudnick Investment. In its current portfolio, Pictet Asset Management SA holds 2,881,552 shares valued at $318.35 million.

In terms of Allegion plc share price expectations, FactSet research, analysts set an average price target of $123.83 in the next 12 months, up nearly 19.5% from the previous closing price of $106.28. Analysts anticipate Allegion plc stock to reach $133.00 by 2023, with the lowest price target being $95.00. In spite of this, 15 analysts ranked Allegion plc stock as an Overweight at the end of 2023.

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