Bread Financial Holdings Inc’s recent filing unveils that its 10% Owner Turtle Creek Asset Management unloaded Company’s shares for reported $1.61 million on Jan 29 ’24. In the deal valued at $35.67 per share,45,000 shares were sold. As a result of this transaction, Turtle Creek Asset Management now holds 293,092 shares worth roughly $10.84 million.
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Then, Turtle Creek Asset Management sold 30,000 shares, generating $1,065,834 in total proceeds. Upon selling the shares at $35.53, the 10% Owner now owns 295,787 shares.
Before that, Turtle Creek Asset Management sold 30,000 shares. Bread Financial Holdings Inc shares valued at $966,977 were divested by the 10% Owner at a price of $32.23 per share. As a result of the transaction, Turtle Creek Asset Management now holds 297,583 shares, worth roughly $11.0 million.
BMO Capital Markets initiated its Bread Financial Holdings Inc [BFH] rating to a Market perform in a research note published on January 10, 2024; the price target was $33. A number of analysts have revised their coverage, including Evercore ISI’s analysts, who decreased its forecast for the stock in early January from “an In-line” to “an Underperform”. JP Morgan also remained covering BFH and has decreased its forecast on December 18, 2023 with a “Neutral” recommendation from previously “an Overweight” rating. Morgan Stanley revised its rating on December 13, 2023. It rated BFH as “an Underweight” which previously was an “an Equal-weight”.
Price Performance Review of BFH
On Tuesday, Bread Financial Holdings Inc [NYSE:BFH] saw its stock jump 3.56% to $36.97. Over the last five days, the stock has lost -5.52%. Bread Financial Holdings Inc shares have risen nearly 12.23% since the year began. Nevertheless, the stocks have risen 33.18% over the past one year. While a 52-week high of $41.89 was reached on 03/21/24, a 52-week low of $23.19 was recorded on 01/25/24. SMA at 50 days reached $35.96, while 200 days put it at $33.69. A total of 1.06 million shares were traded, compared to the trading of 1.05 million shares in the previous session.
Levels Of Support And Resistance For BFH Stock
The 24-hour chart illustrates a support level at 36.10, which if violated will result in even more drops to 35.23. On the upside, there is a resistance level at 37.56. A further resistance level may holdings at 38.15. The Relative Strength Index (RSI) on the 14-day chart is 49.30, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -1.57, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 66.50%. Stochastics %K at 15.35% indicates the stock is a buying.
How much short interest is there in Bread Financial Holdings Inc?
A steep rise in short interest was recorded in Bread Financial Holdings Inc stocks on Feb 29, 2024, growing by 100000.0 shares to a total of 4.19 million shares. Yahoo Finance data shows the prior-month short interest on Jan 31, 2024 was 4.09 million shares. There was a rise of 2.39%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 9.64% of the overall stock float, the days-to-cover ratio (short ratio) rose to 6.58.
The most recent change occurred on November 15, 2023 when Barclays began covering the stock and recommended ‘”an Underweight”‘ rating along with a $24 price target.
