Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Patterson Companies Inc. shares valued at $182,553 were sold by Zurbay Donald on Jul 18. At $32.48 per share, Zurbay Donald sold 5,620 shares. The insider’s holdings dropped to 149,539 shares worth approximately $5.06 million following the completion of this transaction.
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Also, KORSH LES B sold 3,686 shares, netting a total of over 119,686 in proceeds. Following the sale of shares at $32.47 each, the insider now holds 78,095 shares.
Before that, Zurbay Donald had sold 1,666 shares from its account. In a trade valued at $53,878, the President & CEO traded Patterson Companies Inc. shares for $32.34 each. Upon closing the transaction, the insider’s holdings decreased to 1,666 shares, worth approximately $4.86 million.
Analyzing PDCO Stock Performance
On Thursday, Patterson Companies Inc. [NASDAQ: PDCO] plunged -0.32% to $33.81. The stock’s lowest price that day was $33.79, but it reached a high of $34.38 in the same session. During the last five days, there has been a surge of approximately 0.71%. Over the course of the year, Patterson Companies Inc. shares have jumped approximately 20.62%. Shares of the company reached a 52-week high of $34.53 on 08/18/23 and a 52-week low of $25.15 on 03/02/23. A 50-day SMA is recorded $32.43, while a 200-day SMA reached $28.92. Nevertheless, trading volume fell to 0.64 million shares from 0.56 million shares the previous day.
Support And Resistance Levels for Patterson Companies Inc. (PDCO)
According to the 24-hour chart, there is a support level at 33.61, which, if violated, would cause prices to drop to 33.40. In the upper region, resistance lies at 34.20. The next price resistance is at 34.58. RSI (Relative Strength Index) is 58.62 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.14, which suggests the price will decrease in the coming days. Percent R is at 43.50%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Patterson Companies Inc. subject to short interest?
Stocks of Patterson Companies Inc. saw a sharp steep in short interest on Jul 30, 2023 dropping by -0.33 million shares to 3.5 million. Data from Yahoo Finance shows that the short interest on Jun 29, 2023 was 3.83 million shares. A decline of -9.43% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 5.09 of the overall float, the days-to-cover ratio (short ratio) decline to 5.09.
Which companies own the most shares of Patterson Companies Inc. (PDCO)?
According to BlackRock Fund Advisors filings, the company currently owns 9,338,279 shares, which is about 9.56% of the total PDCO shares outstanding. The investor’s shares have appreciated by 162,347 from its previous 13-F filing of 9175932.0 shares. With the completion of the buy transaction, The Vanguard Group, Inc.’s stake is now worth $301,372,320. Dimensional Fund Advisors LP acquire a 2.59% interest valued at $132.69 million while SSgA Funds Management, Inc. purchased a 56,053 stake. A total of -158,171 shares of Patterson Companies Inc. were bought by River Road Asset Management LLC during the quarter, and -108,461 were sold by Nordea Investment Management AB. In its current portfolio, Westwood Management Corp. holds 1,846,753 shares valued at $60.74 million.
In terms of Patterson Companies Inc. share price expectations, FactSet research, analysts set an average price target of $35.18 in the next 12 months, up nearly 3.18% from the previous closing price of $33.92. Analysts anticipate Patterson Companies Inc. stock to reach $40.00 by 2023, with the lowest price target being $31.00. In spite of this, 13 analysts ranked Patterson Companies Inc. stock as a Hold at the end of 2023.