The Wendy’s Company’s recent filing unveils that its Director Peltz Matthew H. unloaded Company’s shares for reported $58.98 million on Aug 22. In the deal valued at $20.30 per share,2,905,569 shares were sold. As a result of this transaction, Peltz Matthew H. now holds 17,827,059 shares worth roughly $ 355.47 million.
Then, PELTZ NELSON sold 2,905,569 shares, generating $58,983,051 in total proceeds. Upon selling the shares at $20.30, the Director now owns 17,827,059 shares.
Before that, MAY PETER W sold 2,905,569 shares. The Wendy’s Company shares valued at $58,983,051 were divested by the Director at a price of $20.30 per share. As a result of the transaction, MAY PETER W now holds 17,827,059 shares, worth roughly $355.47 million.
PT values the company’s stock at a premium of 20.24 to its Friday closing price.
Price Performance Review of WEN
On Friday, The Wendy’s Company [NASDAQ:WEN] saw its stock jump 0.76% to $19.94. On the same session, the stock had its day’s lowest price of $19.91, but rose to a high of $20.0386. Over the last five days, the stock has lost -1.19%. The Wendy’s Company shares have fallen nearly -11.89% since the year began. Nevertheless, the stocks have risen 3.96% over the past one year. While a 52-week high of $23.90 was reached on 05/10/23, a 52-week low of $18.50 was recorded on 08/31/23. SMA at 50 days reached $21.21, while 200 days put it at $21.98. A total of 2.31 million shares were traded, compared to the trading of 3.42 million shares in the previous session.
Levels Of Support And Resistance For WEN Stock
The 24-hour chart illustrates a support level at 19.89, which if violated will result in even more drops to 19.83. On the upside, there is a resistance level at 20.02. A further resistance level may holdings at 20.09. The Relative Strength Index (RSI) on the 14-day chart is 30.95, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.45, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 91.06%. Stochastics %K at 10.03% indicates the stock is a buying.
How much short interest is there in The Wendy’s Company?
A steep rise in short interest was recorded in The Wendy’s Company stocks on Aug 14, 2023, dropping by -0.74 million shares to a total of 7.05 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 7.79 million shares. There was a decline of -10.5%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 4.39% of the overall stock float, the days-to-cover ratio (short ratio) fell to 2.78.
The Wendy’s Company [WEN] – Who Are The Largest Shareholders?
In filings from The Vanguard Group, Inc., it is revealed that the company now owns 18,827,274 shares, or roughly 8.93% of the outstanding WEN shares. In other words, the investor’s shares have fallen by -1,027,671 from its previous 13-F filing of 19854945.0. Additionally, BlackRock Fund Advisors decreased -0.19% of its stake after which the total value it holdings stand at $398,263,618, while Trian Fund Management LP reduced -14.01% of its stake to hold $383.1 million in the firm. Over the last quarter, Massachusetts Financial Services sold -131,875 shares of The Wendy’s Company, while Harris Associates LP sold -111,504 shares. At present, JPMorgan Investment Management, I is holding 5,481,701 shares valued at $117.8 million. Allspring Global Investments LLC owned 5,181,709 shares of the company at the time of its most recent 13F filing, worth $111.35 million.
According to FactSet, The Wendy’s Company’s share price will average $24.93 in the next year, based on opinions of analysts polled by the firm. This is up nearly 21.27 percent from its previous closing price of $19.79. Analysts expect The Wendy’s Company stock to reach the higher price of $31.00, while the lowest price estimate is $22.00. However, 26 analysts have rated WEN stock as an Overweight in their predictions for 2023.