The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. BJ’s Wholesale Club Holdings Inc shares valued at $5,403,182 were sold by Baldwin Christopher J on Mar 11 ’24. At $73.95 per share, Baldwin Christopher J sold 73,062 shares. The insider’s holdings dropped to 173,294 shares worth approximately $13.56 million following the completion of this transaction.
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Also, Werner William C. sold 25,000 shares, netting a total of over 1,943,243 in proceeds. Following the sale of shares at $77.73 each, the insider now holds 29,357 shares.
Before that, Luce Graham had sold 7,479 shares from its account. In a trade valued at $582,941, the EVP, Secretary traded BJ’s Wholesale Club Holdings Inc shares for $77.94 each. Upon closing the transaction, the insider’s holdings decreased to 7,479 shares, worth approximately $1.88 million.
As published in a research note from Gordon Haskett on February 07, 2024, BJ’s Wholesale Club Holdings Inc [BJ] has been rated down from a Buy to a Hold and the price target has been revised to $70. Analysts at Wells Fargo downgraded the stock from ‘”an Overweight”‘ to ‘”an Equal weight”‘ outlook in a report released in early January. As of November 10, 2023, Gordon Haskett has increased its “Hold” rating to a “Buy” for BJ. Earlier on November 06, 2023, Deutsche Bank downgraded its rating. Their new recommendation was “a Hold” for BJ stock which previously was a “a Buy”.
Analyzing BJ Stock Performance
During the last five days, there has been a surge of approximately 6.33%. Over the course of the year, BJ’s Wholesale Club Holdings Inc shares have jumped approximately 17.40%. Shares of the company reached a 52-week high of $78.97 on 03/07/24 and a 52-week low of $64.06 on 02/05/24. A 50-day SMA is recorded $69.51, while a 200-day SMA reached $67.48. Nevertheless, trading volume fell to 1.32 million shares from 1.64 million shares the previous day.
Support And Resistance Levels for BJ’s Wholesale Club Holdings Inc (BJ)
According to the 24-hour chart, there is a support level at 77.12, which, if violated, would cause prices to drop to 75.97. In the upper region, resistance lies at 78.85. The next price resistance is at 79.43. RSI (Relative Strength Index) is 66.96 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 2.86, which suggests the price will increase in the coming days. Percent R is at 8.53%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
Is BJ’s Wholesale Club Holdings Inc subject to short interest?
Stocks of BJ’s Wholesale Club Holdings Inc saw a sharp rise in short interest on Feb 29, 2024 jumping by 0.75 million shares to 9.37 million. Data from Yahoo Finance shows that the short interest on Jan 31, 2024 was 8.62 million shares. A jump of 8.0% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 8.75 of the overall float, the days-to-cover ratio (short ratio) jumped to 8.75.
