Aramark [NYSE: ARMK] Sees Increase in Stock Value

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Aramark shares valued at $415,208 were sold by Harrington Lauren A on Mar 05 ’24. At $31.02 per share, Harrington Lauren A sold 13,384 shares. The insider’s holdings dropped to 95,284 shares worth approximately $3.11 million following the completion of this transaction.

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Also, Harrington Lauren A sold 4,274 shares, netting a total of over 116,819 in proceeds. Following the sale of shares at $27.33 each, the insider now holds 95,142 shares.

Before that, Bruno Marc A had sold 27,884 shares from its account. In a trade valued at $743,666, the COO, U.S. Food & Facilities traded Aramark shares for $26.67 each. Upon closing the transaction, the insider’s holdings decreased to 27,884 shares, worth approximately $7.37 million.

As published in their initiating research note from Goldman on January 17, 2024, Aramark [ARMK] has been a Buy and the price target has been revised to $33. Analysts at Truist started covering the stock with ‘”a Buy”‘ outlook in a report released in early January. As of October 09, 2023, Jefferies has increased its “Hold” rating to a “Buy” for ARMK. Earlier on September 01, 2023, Citigroup upgraded its rating. Their new recommendation was “a Buy” for ARMK stock which previously was a “a Neutral”.

Analyzing ARMK Stock Performance

During the last five days, there has been a surge of approximately 5.05%. Over the course of the year, Aramark shares have jumped approximately 16.19%. Shares of the company reached a 52-week high of $33.04 on 03/13/24 and a 52-week low of $27.47 on 01/03/24. A 50-day SMA is recorded $29.83, while a 200-day SMA reached $28.33. Nevertheless, trading volume fell to 1.9 million shares from 2.23 million shares the previous day.

Support And Resistance Levels for Aramark (ARMK)

According to the 24-hour chart, there is a support level at 32.28, which, if violated, would cause prices to drop to 31.92. In the upper region, resistance lies at 33.03. The next price resistance is at 33.41. RSI (Relative Strength Index) is 72.27 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.11, which suggests the price will increase in the coming days. Percent R is at 12.75%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.

Is Aramark subject to short interest?

Stocks of Aramark saw a sharp rise in short interest on Feb 29, 2024 jumping by 0.29 million shares to 4.98 million. Data from Yahoo Finance shows that the short interest on Jan 31, 2024 was 4.69 million shares. A jump of 5.82% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 1.87 of the overall float, the days-to-cover ratio (short ratio) jumped to 1.87.

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