Essent Group Ltd.’s recently made public that its SVP and Chief Legal Officer Gibbons Mary Lourdes unloaded Company’s shares for reported $0.75 million on Aug 23. In the deal valued at $49.80 per share,15,000 shares were sold. As a result of this transaction, Gibbons Mary Lourdes now holds 261,324 shares worth roughly $ 12.88 million.
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Then, WEINSTOCK DAVID B sold 2,000 shares, generating $103,760 in total proceeds. Upon selling the shares at $51.88, the SVP and CFO now owns 27,648 shares.
Before that, Bhasin Vijay sold 2,661 shares. Essent Group Ltd. shares valued at $134,567 were divested by the SVP and Chief Risk Officer at a price of $50.57 per share. As a result of the transaction, Bhasin Vijay now holds 214,444 shares, worth roughly $10.57 million.
Keefe Bruyette downgraded its Essent Group Ltd. [ESNT] rating to a Mkt perform from a an Outperform in a research note published on Tuesday. PT values the company’s stock at a premium of 1.4 to its Tuesday closing price.
Price Performance Review of ESNT
On Tuesday, Essent Group Ltd. [NYSE:ESNT] saw its stock fall -2.88% to $49.30. On the same session, the stock had its day’s lowest price of $48.75, but rose to a high of $50.43. Over the last five days, the stock has lost -2.16%. Essent Group Ltd. shares have risen nearly 26.80% since the year began. Nevertheless, the stocks have risen 26.15% over the past one year. While a 52-week high of $53.66 was reached on 08/07/23, a 52-week low of $34.27 was recorded on 03/16/23. SMA at 50 days reached $49.40, while 200 days put it at $43.44. A total of 0.55 million shares were traded, compared to the trading of 0.29 million shares in the previous session.
Levels Of Support And Resistance For ESNT Stock
The 24-hour chart illustrates a support level at 48.56, which if violated will result in even more drops to 47.81. On the upside, there is a resistance level at 50.24. A further resistance level may holdings at 51.17. The Relative Strength Index (RSI) on the 14-day chart is 41.81, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.19, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 83.41%. Stochastics %K at 34.90% indicates the stock is a holding.
How much short interest is there in Essent Group Ltd.?
A steep rise in short interest was recorded in Essent Group Ltd. stocks on Aug 14, 2023, dropping by 25130.0 shares to a total of 0.8 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 0.83 million shares. There was a decline of -3.14%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 1.06% of the overall stock float, the days-to-cover ratio (short ratio) fell to 1.73.
Essent Group Ltd. [ESNT] – Who Are The Largest Shareholders?
In filings from BlackRock Fund Advisors, it is revealed that the company now owns 11,393,535 shares, or roughly 10.62% of the outstanding ESNT shares. In other words, the investor’s shares have fallen by -911,595 from its previous 13-F filing of 12305130.0. Additionally, The Vanguard Group, Inc. decreased -2.33% of its stake after which the total value it holdings stand at $556,494,541. Over the last quarter, Fidelity Management & Research Co sold -2,829 shares of Essent Group Ltd., while SSgA Funds Management, Inc. sold -9,752 shares. At present, Macquarie Investment Management B is holding 3,909,076 shares valued at $193.89 million. Cooke & Bieler LP owned 3,761,073 shares of the company at the time of its most recent 13F filing, worth $186.55 million.
According to FactSet, Essent Group Ltd.’s share price will average $56.67 in the next year, based on opinions of analysts polled by the firm. This is up nearly 10.32 percent from its previous closing price of $50.76. Analysts expect Essent Group Ltd. stock to reach the higher price of $65.00, while the lowest price estimate is $51.00. However, 10 analysts have rated ESNT stock as an Overweight in their predictions for 2023.