Insider Selling: DONAHUE TIMOTHY J, Crown Holdings, Inc. [CCK] President & CEO divested 7,500 shares

Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Crown Holdings, Inc. shares valued at $682,200 were sold by DONAHUE TIMOTHY J on Jan 08 ’24. At $90.96 per share, DONAHUE TIMOTHY J sold 7,500 shares. The insider’s holdings dropped to 651,264 shares worth approximately $50.77 million following the completion of this transaction.

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Also, DONAHUE TIMOTHY J sold 7,500 shares, netting a total of over 663,675 in proceeds. Following the sale of shares at $88.49 each, the insider now holds 579,743 shares.

Before that, Gifford Gerard H had sold 13,535 shares from its account. In a trade valued at $1,089,317, the EVP & COO traded Crown Holdings, Inc. shares for $80.48 each. Upon closing the transaction, the insider’s holdings decreased to 13,535 shares, worth approximately $8.56 million.

As published in their initiating research note from Wolfe Research on March 01, 2024, Crown Holdings, Inc. [CCK] has been an Outperform and the price target has been revised to $102. Analysts at JP Morgan upgraded the stock from ‘”a Neutral”‘ to ‘”an Overweight”‘ outlook in a report released in early February. As of January 16, 2024, UBS has initiated its “Buy” rating for CCK. Earlier on January 04, 2023, Robert W. Baird downgraded its rating. Their new recommendation was “a Neutral” for CCK stock which previously was a “an Outperform”.

Analyzing CCK Stock Performance

During the last five days, there has been a surge of approximately 2.58%. Over the course of the year, Crown Holdings, Inc. shares have dropped approximately -15.34%. Shares of the company reached a 52-week high of $92.61 on 01/02/24 and a 52-week low of $69.61 on 02/06/24. A 50-day SMA is recorded $82.78, while a 200-day SMA reached $85.74. Nevertheless, trading volume fell to 1.09 million shares from 1.15 million shares the previous day.

Support And Resistance Levels for Crown Holdings, Inc. (CCK)

According to the 24-hour chart, there is a support level at 77.54, which, if violated, would cause prices to drop to 77.12. In the upper region, resistance lies at 78.50. The next price resistance is at 79.04. RSI (Relative Strength Index) is 48.60 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.29, which suggests the price will increase in the coming days. Percent R is at 21.04%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.

Is Crown Holdings, Inc. subject to short interest?

Stocks of Crown Holdings, Inc. saw a sharp rise in short interest on Feb 29, 2024 jumping by 0.3 million shares to 3.06 million. Data from Yahoo Finance shows that the short interest on Jan 31, 2024 was 2.76 million shares. A jump of 9.8% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 1.78 of the overall float, the days-to-cover ratio (short ratio) jumped to 1.78.

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