Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Boot Barn Holdings Inc. shares valued at $10,694,378 were sold by Conroy James Grant on Aug 15. At $94.11 per share, Conroy James Grant sold 113,637 shares. The insider’s holdings dropped to 46,273 shares worth approximately $4.25 million following the completion of this transaction.
Also, Conroy James Grant sold 113,636 shares, netting a total of over 10,578,375 in proceeds. Following the sale of shares at $93.09 each, the insider now holds 46,273 shares.
Before that, Love Michael A had sold 10,250 shares from its account. In a trade valued at $973,135, the CHIEF RETAIL OFFICER traded Boot Barn Holdings Inc. shares for $94.94 each. Upon closing the transaction, the insider’s holdings decreased to 10,250 shares, worth approximately $0.27 million.
As published in their initiating research note from BTIG Research on February 07, 2023, Boot Barn Holdings Inc. [BOOT] has been a Buy and the price target has been revised to $110. This represents a 16.59% premium over Thursday’s closing price.
Analyzing BOOT Stock Performance
On Thursday, Boot Barn Holdings Inc. [NYSE: BOOT] rose 1.10% to $91.75. The stock’s lowest price that day was $90.16, but it reached a high of $92.285 in the same session. During the last five days, there has been a surge of approximately 1.66%. Over the course of the year, Boot Barn Holdings Inc. shares have jumped approximately 46.75%. Shares of the company reached a 52-week high of $104.91 on 08/03/23 and a 52-week low of $59.21 on 01/06/23. A 50-day SMA is recorded $90.98, while a 200-day SMA reached $76.64. Nevertheless, trading volume fell to 0.47 million shares from 0.57 million shares the previous day.
Support And Resistance Levels for Boot Barn Holdings Inc. (BOOT)
According to the 24-hour chart, there is a support level at 90.51, which, if violated, would cause prices to drop to 89.27. In the upper region, resistance lies at 92.64. The next price resistance is at 93.52. RSI (Relative Strength Index) is 49.55 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.50, which suggests the price will decrease in the coming days. Percent R is at 50.06%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Boot Barn Holdings Inc. subject to short interest?
Stocks of Boot Barn Holdings Inc. saw a sharp rise in short interest on Aug 14, 2023 jumping by 0.17 million shares to 2.73 million. Data from Yahoo Finance shows that the short interest on Jul 13, 2023 was 2.56 million shares. A jump of 6.23% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 3.41 of the overall float, the days-to-cover ratio (short ratio) jumped to 3.41.
Which companies own the most shares of Boot Barn Holdings Inc. (BOOT)?
According to BlackRock Fund Advisors filings, the company currently owns 4,265,937 shares, which is about 14.24% of the total BOOT shares outstanding. The investor’s shares have plunged by -37,043 from its previous 13-F filing of 4302980.0 shares. With the completion of the sale transaction, The Vanguard Group, Inc.’s stake is now worth $246,817,840. Capital Research & Management Co acquire a 350.18% interest valued at $167.82 million while Wasatch Advisors, Inc. sold a -28,730 stake. A total of 86,165 shares of Boot Barn Holdings Inc. were sold by Dimensional Fund Advisors LP during the quarter, and 33,688 were bought by SSgA Funds Management, Inc.. In its current portfolio, Loomis, Sayles & Co. LP holds 577,590 shares valued at $54.24 million.
In terms of Boot Barn Holdings Inc. share price expectations, FactSet research, analysts set an average price target of $112.71 in the next 12 months, up nearly 26.72% from the previous closing price of $90.75. Analysts anticipate Boot Barn Holdings Inc. stock to reach $130.00 by 2023, with the lowest price target being $88.00. In spite of this, 14 analysts ranked Boot Barn Holdings Inc. stock as a Buy at the end of 2023.