BRP Group Inc.’s recent filing unveils that its Chief Executive Officer Baldwin Trevor unloaded Company’s shares for reported $6.04 million on Aug 24. In the deal valued at $25.35 per share,238,147 shares were sold. As a result of this transaction, Baldwin Trevor now holds 32,864 shares worth roughly $ 0.89 million.
Then, Baldwin Lowry sold 188,552 shares, generating $4,849,853 in total proceeds. Upon selling the shares at $25.72, the Chairman now owns 0 shares.
Before that, Wiebeck Kristopher Aaron sold 55,000 shares. BRP Group Inc. shares valued at $1,381,204 were divested by the Chief Strategy Officer at a price of $25.11 per share. As a result of the transaction, Wiebeck Kristopher Aaron now holds 20,035 shares, worth roughly $0.54 million.
William Blair downgraded its BRP Group Inc. [BRP] rating to a Mkt perform from a an Outperform in a research note published on Friday.
Price Performance Review of BRP
On Friday, BRP Group Inc. [NASDAQ:BRP] saw its stock jump 1.54% to $27.00. On the same session, the stock had its day’s lowest price of $26.74, but rose to a high of $27.38. Over the last five days, the stock has gained 6.64%. BRP Group Inc. shares have risen nearly 7.40% since the year began. Nevertheless, the stocks have fallen -14.01% over the past one year. While a 52-week high of $32.83 was reached on 01/13/23, a 52-week low of $19.26 was recorded on 05/31/23. SMA at 50 days reached $24.86, while 200 days put it at $25.83. A total of 0.24 million shares were traded, compared to the trading of 0.33 million shares in the previous session.
Levels Of Support And Resistance For BRP Stock
The 24-hour chart illustrates a support level at 26.70, which if violated will result in even more drops to 26.40. On the upside, there is a resistance level at 27.34. A further resistance level may holdings at 27.68. The Relative Strength Index (RSI) on the 14-day chart is 66.70, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.94, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 12.34%. Stochastics %K at 87.74% indicates the stock is a selling.
How much short interest is there in BRP Group Inc.?
A steep rise in short interest was recorded in BRP Group Inc. stocks on Aug 14, 2023, dropping by 10000.0 shares to a total of 2.65 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 2.66 million shares. There was a decline of -0.38%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 4.24% of the overall stock float, the days-to-cover ratio (short ratio) fell to 7.96.
BRP Group Inc. [BRP] – Who Are The Largest Shareholders?
In filings from The Vanguard Group, Inc., it is revealed that the company now owns 5,758,225 shares, or roughly 9.03% of the outstanding BRP shares. In other words, the investor’s shares have risen by 61,286 from its previous 13-F filing of 5696939.0. Additionally, Fidelity Management & Research Co increased 15.67% of its stake after which the total value it holdings stand at $97,425,177, while BlackRock Fund Advisors added 5.44% of its stake to hold $92.04 million in the firm. Over the last quarter, Champlain Investment Partners LLC sold -149,615 shares of BRP Group Inc., while BAMCO, Inc. sold -549,625 shares. At present, Invesco Advisers, Inc. is holding 2,014,944 shares valued at $50.19 million. Westwood Management Corp. owned 2,001,794 shares of the company at the time of its most recent 13F filing, worth $49.86 million.
According to FactSet, BRP Group Inc.’s share price will average $31.86 in the next year, based on opinions of analysts polled by the firm. This is up nearly 12.82 percent from its previous closing price of $26.59. Analysts expect BRP Group Inc. stock to reach the higher price of $41.00, while the lowest price estimate is $27.00. However, 9 analysts have rated BRP stock as an Overweight in their predictions for 2023.