The Potential Rise in the Price of The Wendy’s Company (WEN) following insiders activity


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.

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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.


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