The Scotts Miracle-Gro Company’s recent filing unveils 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 $ 769.06 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 23.54 to its Friday closing price.
Price Performance Review of SMG
On Friday, The Scotts Miracle-Gro Company [NYSE:SMG] saw its stock jump 0.62% to $55.05. On the same session, the stock had its day’s lowest price of $54.48, but rose to a high of $56.04. Over the last five days, the stock has gained 3.52%. The Scotts Miracle-Gro Company shares have risen nearly 13.29% since the year began. Nevertheless, the stocks have fallen -2.08% 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 $58.74, while 200 days put it at $64.54. A total of 2.14 million shares were traded, compared to the trading of 0.49 million shares in the previous session.
Levels Of Support And Resistance For SMG Stock
The 24-hour chart illustrates a support level at 54.34, which if violated will result in even more drops to 53.63. On the upside, there is a resistance level at 55.90. A further resistance level may holdings at 56.75. The Relative Strength Index (RSI) on the 14-day chart is 51.46, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.26, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 50.02%. Stochastics %K at 46.69% indicates the stock is a holding.
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 30, 2023, dropping by -0.31 million shares to a total of 3.06 million shares. Yahoo Finance data shows the prior-month short interest on Jul 30, 2023 was 3.37 million shares. There was a decline of -10.13%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 7.37% of the overall stock float, the days-to-cover ratio (short ratio) fell to 3.61.
The Scotts Miracle-Gro Company [SMG] – Who Are The Largest Shareholders?
In filings from Kayne Anderson Rudnick Investment, it is revealed that the company now owns 4,937,947 shares, or roughly 8.79% of the outstanding SMG shares. In other words, the investor’s shares have fallen by -56,685 from its previous 13-F filing of 4994632.0. Additionally, The Vanguard Group, Inc. decreased -0.05% of its stake after which the total value it holdings stand at $257,465,930, while BlackRock Fund Advisors added 2.71% of its stake to hold $202.4 million in the firm. Over the last quarter, EARNEST Partners LLC sold -572,977 shares of The Scotts Miracle-Gro Company, while T. Rowe Price Associates, Inc. sold -367,684 shares. At present, SSgA Funds Management, Inc. is holding 1,247,110 shares valued at $70.66 million. Northern Trust Investments, Inc. owned 879,319 shares of the company at the time of its most recent 13F filing, worth $49.82 million.
According to FactSet, The Scotts Miracle-Gro Company’s share price will average $65.25 in the next year, based on opinions of analysts polled by the firm. This is up nearly 18.81 percent from its previous closing price of $54.71. Analysts expect The Scotts Miracle-Gro Company stock to reach the higher price of $75.00, while the lowest price estimate is $55.00. However, 11 analysts have rated SMG stock as an Overweight in their predictions for 2023.