The Scotts Miracle-Gro Company’s filing revealed that its 10% Owner Hagedorn Partnership, L.P. unloaded Company’s shares for reported $1.18 million on Aug 21. In the deal valued at $49.64 per share,23,685 shares were sold. As a result of this transaction, Hagedorn Partnership, L.P. now holds 13,970,295 shares worth roughly $ 768.79 million.
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Then, Hagedorn Partnership, L.P. sold 47,795 shares, generating $2,383,059 in total proceeds. Upon selling the shares at $49.86, the 10% Owner now owns 13,993,980 shares.
Before that, HAGEDORN JAMES sold 6,451 shares. The Scotts Miracle-Gro Company shares valued at $357,558 were divested by the Chairman and CEO at a price of $55.43 per share. As a result of the transaction, HAGEDORN JAMES now holds 125,065 shares, worth roughly $6.88 million.
Stifel downgraded its The Scotts Miracle-Gro Company [SMG] rating to a Hold from a a Buy in a research note published on Friday, July 13, 2023; the price target was decreased to $72 from $78. PT values the company’s stock at a premium of 23.57 to its Friday closing price.
Price Performance Review of SMG
On Friday, The Scotts Miracle-Gro Company [NYSE:SMG] saw its stock fall -2.88% to $55.03. On the same session, the stock had its day’s lowest price of $54.71, but rose to a high of $57.63. Over the last five days, the stock has gained 6.71%. The Scotts Miracle-Gro Company shares have risen nearly 13.25% since the year began. Nevertheless, the stocks have fallen -17.80% over the past one year. While a 52-week high of $88.61 was reached on 02/16/23, a 52-week low of $39.06 was recorded on 01/03/23. SMA at 50 days reached $60.07, while 200 days put it at $64.71. A total of 0.68 million shares were traded, compared to the trading of 0.94 million shares in the previous session.
Levels Of Support And Resistance For SMG Stock
The 24-hour chart illustrates a support level at 53.95, which if violated will result in even more drops to 52.87. On the upside, there is a resistance level at 56.87. A further resistance level may holdings at 58.71. The Relative Strength Index (RSI) on the 14-day chart is 48.25, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 4.00, which suggests price will go up in the next trading period. Percent R suggests that price movement has been low at 36.62%. Stochastics %K at 80.25% indicates the stock is a selling.
How much short interest is there in The Scotts Miracle-Gro Company?
A steep rise in short interest was recorded in The Scotts Miracle-Gro Company stocks on Aug 14, 2023, dropping by -0.15 million shares to a total of 3.33 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 3.48 million shares. There was a decline of -4.5%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 8.02% of the overall stock float, the days-to-cover ratio (short ratio) fell to 4.06.
However, 11 analysts have rated SMG stock as an Overweight in their predictions for 2023.