Recent Insider Activity Could Benefit Dollar Tree Inc (DLTR)

Dollar Tree Inc’s recently made public that its Director by deputization Mantle Ridge LP acquired Company’s shares for reported $99.28 million on Dec 20 ’23. In the deal valued at $134.37 per share,738,862 shares were bought. As a result of this transaction, Mantle Ridge LP now holds 12,104,493 shares worth roughly $1.8 billion.

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Then, Aflatooni Robert sold 1,259 shares, generating $134,754 in total proceeds. Upon selling the shares at $107.03, the Chief Information Officer now owns 7,157 shares.

Before that, HEINRICH DANIEL J bought 1,650 shares. Dollar Tree Inc shares valued at $173,646 were divested by the Director at a price of $105.24 per share. As a result of the transaction, HEINRICH DANIEL J now holds 1,650 shares, worth roughly $0.25 million.

Gordon Haskett upgraded its Dollar Tree Inc [DLTR] rating to a Buy from a a Accumulate in a research note published recently. A number of analysts have revised their coverage, including JP Morgan’s analysts, who increased its forecast for the stock in late January from “a Neutral” to “an Overweight”. Goldman also remained covering DLTR and has increased its forecast on October 17, 2023 with a “Buy” recommendation from previously “Neutral” rating. Exane BNP Paribas started covering the stock on October 10, 2023. It rated DLTR as “an Outperform”.

Price Performance Review of DLTR

On Monday, Dollar Tree Inc [NASDAQ:DLTR] saw its stock jump 0.74% to $149.00. Over the last five days, the stock has gained 1.76%. Dollar Tree Inc shares have risen nearly 4.89% since the year began. Nevertheless, the stocks have risen 6.70% over the past one year. While a 52-week high of $161.10 was reached on 03/05/24, a 52-week low of $102.77 was recorded on 01/22/24. SMA at 50 days reached $139.91, while 200 days put it at $131.06. A total of 2.32 million shares were traded, compared to the trading of 2.42 million shares in the previous session.

Levels Of Support And Resistance For DLTR Stock

The 24-hour chart illustrates a support level at 147.24, which if violated will result in even more drops to 145.47. On the upside, there is a resistance level at 150.06. A further resistance level may holdings at 151.11. The Relative Strength Index (RSI) on the 14-day chart is 61.82, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 1.58, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 28.34%. Stochastics %K at 72.39% indicates the stock is a holding.

How much short interest is there in Dollar Tree Inc?

A steep rise in short interest was recorded in Dollar Tree Inc stocks on Feb 15, 2024, growing by 0.32 million shares to a total of 7.83 million shares. Yahoo Finance data shows the prior-month short interest on Jan 12, 2024 was 7.51 million shares. There was a rise of 4.09%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 4.33% of the overall stock float, the days-to-cover ratio (short ratio) rose to 3.65.

The most recent change occurred on August 25, 2023 when Telsey Advisory Group resumed its ‘”an Outperform”‘ rating for the stock and retained the price target to $160.

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