The Attractiveness of Investing In Arch Capital Group Ltd (ACGL) is Growing

In a filing, Arch Capital Group Ltd revealed its OFFICER OF SUBSIDIARY Papadopoulo Nicolas unloaded Company’s shares for reported $5.15 million on Nov 22. In the deal valued at $85.80 per share,60,000 shares were sold. As a result of this transaction, Papadopoulo Nicolas now holds 630,387 shares worth roughly $52.61 million.

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Then, GRANDISSON MARC sold 103,028 shares, generating $8,758,235 in total proceeds. Upon selling the shares at $85.01, the CEO now owns 1,937,157 shares.

Before that, GRANDISSON MARC sold 246,972 shares. Arch Capital Group Ltd shares valued at $21,145,743 were divested by the CEO at a price of $85.62 per share. As a result of the transaction, GRANDISSON MARC now holds 2,040,185 shares, worth roughly $170.27 million.

TD Cowen initiated its Arch Capital Group Ltd [ACGL] rating to an Outperform in a research note published on January 10, 2024; the price target was $96.

Price Performance Review of ACGL

On Friday, Arch Capital Group Ltd [NASDAQ:ACGL] saw its stock jump 0.85% to $83.46. Over the last five days, the stock has gained 0.19%. Arch Capital Group Ltd shares have risen nearly 12.37% since the year began. Nevertheless, the stocks have risen 30.06% over the past one year. While a 52-week high of $90.65 was reached on 02/07/24, a 52-week low of $62.10 was recorded on 01/02/24. SMA at 50 days reached $78.76, while 200 days put it at $78.21. A total of 1.13 million shares were traded, compared to the trading of 1.9 million shares in the previous session.

Levels Of Support And Resistance For ACGL Stock

The 24-hour chart illustrates a support level at 82.19, which if violated will result in even more drops to 80.93. On the upside, there is a resistance level at 84.12. A further resistance level may holdings at 84.79. The Relative Strength Index (RSI) on the 14-day chart is 63.39, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 1.71, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 20.81%. Stochastics %K at 80.62% indicates the stock is a selling.

How much short interest is there in Arch Capital Group Ltd?

A steep rise in short interest was recorded in Arch Capital Group Ltd stocks on Jan 31, 2024, dropping by -0.65 million shares to a total of 3.13 million shares. Yahoo Finance data shows the prior-month short interest on Dec 29, 2023 was 3.78 million shares. There was a decline of -20.77%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 0.98% of the overall stock float, the days-to-cover ratio (short ratio) fell to 1.93.

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