American Axle & Manufacturing Holdings Inc.’s filing revealed that its Senior VP Human Resources Kemp Terri M. unloaded Company’s shares for reported $0.32 million on Aug 09. In the deal valued at $8.00 per share,40,000 shares were sold. As a result of this transaction, Kemp Terri M. now holds 216,961 shares worth roughly $ 1.7 million.
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Then, Barnes David Eugene sold 29,533 shares, generating $265,797 in total proceeds. Upon selling the shares at $9.00, the VP & General Counsel now owns 104,621 shares.
Before that, WILLEMSE NORMAN sold 59,265 shares. American Axle & Manufacturing Holdings Inc. shares valued at $533,385 were divested by the President Forging at a price of $9.00 per share. As a result of the transaction, WILLEMSE NORMAN now holds 297,435 shares, worth roughly $2.33 million.
Barclays initiated its American Axle & Manufacturing Holdings Inc. [AXL] rating to an Equal weight in a research note published on Tuesday, February 15, 2023; the price target was $10. PT values the company’s stock at a premium of 21.5 to its Tuesday closing price.
Price Performance Review of AXL
On Tuesday, American Axle & Manufacturing Holdings Inc. [NYSE:AXL] saw its stock jump 1.95% to $7.85. On the same session, the stock had its day’s lowest price of $7.505, but rose to a high of $7.86. Over the last five days, the stock has gained 6.22%. American Axle & Manufacturing Holdings Inc. shares have risen nearly 0.38% since the year began. Nevertheless, the stocks have fallen -23.34% over the past one year. While a 52-week high of $11.19 was reached on 02/16/23, a 52-week low of $6.61 was recorded on 05/04/23. SMA at 50 days reached $8.26, while 200 days put it at $8.25. A total of 1.19 million shares were traded, compared to the trading of 0.93 million shares in the previous session.
Levels Of Support And Resistance For AXL Stock
The 24-hour chart illustrates a support level at 7.62, which if violated will result in even more drops to 7.38. On the upside, there is a resistance level at 7.97. A further resistance level may holdings at 8.09. The Relative Strength Index (RSI) on the 14-day chart is 51.54, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.28, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 1.18%. Stochastics %K at 96.39% indicates the stock is a selling.
How much short interest is there in American Axle & Manufacturing Holdings Inc.?
A steep rise in short interest was recorded in American Axle & Manufacturing Holdings Inc. stocks on Aug 14, 2023, growing by 0.6 million shares to a total of 2.55 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 1.95 million shares. There was a rise of 23.53%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 3.15% of the overall stock float, the days-to-cover ratio (short ratio) rose to 1.9.
American Axle & Manufacturing Holdings Inc. [AXL] – Who Are The Largest Shareholders?
In filings from BlackRock Fund Advisors, it is revealed that the company now owns 17,139,308 shares, or roughly 14.65% of the outstanding AXL shares. In other words, the investor’s shares have fallen by -12,586 from its previous 13-F filing of 17151894.0. Additionally, The Vanguard Group, Inc. decreased -5.16% of its stake after which the total value it holdings stand at $127,832,928, while Dimensional Fund Advisors LP added 3.59% of its stake to hold $63.29 million in the firm. Over the last quarter, Barrow, Hanley, Mewhinney & Strau purchased 46,713 shares of American Axle & Manufacturing Holdings Inc., while Fidelity Management & Research Co bought -71,294 shares. At present, SSgA Funds Management, Inc. is holding 4,510,855 shares valued at $42.63 million. LSV Asset Management owned 3,980,100 shares of the company at the time of its most recent 13F filing, worth $37.61 million.
According to FactSet, American Axle & Manufacturing Holdings Inc.’s share price will average $9.63 in the next year, based on opinions of analysts polled by the firm. This is up nearly 16.88 percent from its previous closing price of $7.70. Analysts expect American Axle & Manufacturing Holdings Inc. stock to reach the higher price of $12.00, while the lowest price estimate is $8.00. However, 9 analysts have rated AXL stock as a Hold in their predictions for 2023.