Renasant Corporation (RNST) Becoming More Attractive for Investors


Renasant Corporation’s recently made public that its EVP Perry Curtis J acquired Company’s shares for reported $0.24 million on May 10. In the deal valued at $24.45 per share,10,000 shares were bought. As a result of this transaction, Perry Curtis J now holds 70,413 shares worth roughly $ 2.0 million.

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Then, FOY JOHN bought 3,000 shares, generating $77,850 in total proceeds. Upon buying the shares at $25.95, the Director now owns 34,793 shares.

Before that, HOLLAND NEAL A JR bought 500 shares. Renasant Corporation shares valued at $15,000 were divested by the Director at a price of $30.00 per share. As a result of the transaction, HOLLAND NEAL A JR now holds 68,642 shares, worth roughly $1.95 million.

Raymond James downgraded its Renasant Corporation [RNST] rating to a Mkt perform from a an Outperform in a research note published on Friday.

Price Performance Review of RNST

On Friday, Renasant Corporation [NASDAQ:RNST] saw its stock jump 1.90% to $28.38. On the same session, the stock had its day’s lowest price of $27.97, but rose to a high of $28.585. Over the last five days, the stock has gained 1.25%. Renasant Corporation shares have fallen nearly -24.50% since the year began. Nevertheless, the stocks have fallen -14.88% over the past one year. While a 52-week high of $41.77 was reached on 02/06/23, a 52-week low of $23.47 was recorded on 05/12/23. SMA at 50 days reached $28.86, while 200 days put it at $32.10. A total of 0.21 million shares were traded, compared to the trading of 0.25 million shares in the previous session.

Levels Of Support And Resistance For RNST Stock

The 24-hour chart illustrates a support level at 28.04, which if violated will result in even more drops to 27.70. On the upside, there is a resistance level at 28.65. A further resistance level may holdings at 28.93. The Relative Strength Index (RSI) on the 14-day chart is 43.60, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.52, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 74.79%. Stochastics %K at 12.20% indicates the stock is a buying.

How much short interest is there in Renasant Corporation?

A steep rise in short interest was recorded in Renasant Corporation stocks on Aug 14, 2023, growing by 0.24 million shares to a total of 1.23 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 0.99 million shares. There was a rise of 19.21%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 3.12% of the overall stock float, the days-to-cover ratio (short ratio) rose to 6.27.

Renasant Corporation [RNST] – Who Are The Largest Shareholders?

In filings from BlackRock Fund Advisors, it is revealed that the company now owns 7,781,767 shares, or roughly 13.87% of the outstanding RNST shares. In other words, the investor’s shares have fallen by -1,387 from its previous 13-F filing of 7783154.0. Additionally, The Vanguard Group, Inc. decreased -1.79% of its stake after which the total value it holdings stand at $194,330,396, while Dimensional Fund Advisors LP reduced -4.08% of its stake to hold $124.97 million in the firm. Over the last quarter, SSgA Funds Management, Inc. purchased 786 shares of Renasant Corporation, while Victory Capital Management, Inc. bought 1,056,994 shares. At present, Westwood Management Corp. is holding 2,072,760 shares valued at $64.13 million. Allspring Global Investments LLC owned 1,464,554 shares of the company at the time of its most recent 13F filing, worth $45.31 million.

According to FactSet, Renasant Corporation’s share price will average $33.86 in the next year, based on opinions of analysts polled by the firm. This is up nearly 22.08 percent from its previous closing price of $27.85. Analysts expect Renasant Corporation stock to reach the higher price of $36.00, while the lowest price estimate is $32.00. However, 8 analysts have rated RNST stock as a Hold in their predictions for 2023.


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