Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Arch Capital Group Ltd shares valued at $5,251,302 were sold by Papadopoulo Nicolas on Mar 07 ’24. At $87.52 per share, Papadopoulo Nicolas sold 60,000 shares. The insider’s holdings dropped to 651,931 shares worth approximately $59.64 million following the completion of this transaction.
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Also, Morin Francois sold 25,689 shares, netting a total of over 2,247,030 in proceeds. Following the sale of shares at $87.47 each, the insider now holds 221,779 shares.
Before that, Rajeh Maamoun had sold 50,000 shares from its account. In a trade valued at $4,374,025, the CHAIRMAN & CEO ARCH RE GROUP traded Arch Capital Group Ltd shares for $87.48 each. Upon closing the transaction, the insider’s holdings decreased to 50,000 shares, worth approximately $30.75 million.
As published in their initiating research note from TD Cowen on January 10, 2024, Arch Capital Group Ltd [ACGL] has been an Outperform and the price target has been revised to $96. Analysts at Evercore ISI started covering the stock with ‘”an In-line”‘ outlook in a report released in mid December. As of November 22, 2023, Citigroup has initiated its “Neutral” rating for ACGL. Earlier on October 05, 2023, Deutsche Bank initiated its rating. Their recommendation was “a Buy” for ACGL stock.
Analyzing ACGL Stock Performance
During the last five days, there has been a drop of approximately -0.81%. Over the course of the year, Arch Capital Group Ltd shares have jumped approximately 23.17%. Shares of the company reached a 52-week high of $92.57 on 03/20/24 and a 52-week low of $74.28 on 01/02/24. A 50-day SMA is recorded $85.89, while a 200-day SMA reached $80.59. Nevertheless, trading volume fell to 3.03 million shares from 1.95 million shares the previous day.
Support And Resistance Levels for Arch Capital Group Ltd (ACGL)
According to the 24-hour chart, there is a support level at 90.96, which, if violated, would cause prices to drop to 90.44. In the upper region, resistance lies at 91.87. The next price resistance is at 92.26. RSI (Relative Strength Index) is 64.35 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.13, which suggests the price will decrease in the coming days. Percent R is at 19.66%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Arch Capital Group Ltd subject to short interest?
Stocks of Arch Capital Group Ltd saw a sharp steep in short interest on Feb 29, 2024 dropping by -0.12 million shares to 3.01 million. Data from Yahoo Finance shows that the short interest on Jan 31, 2024 was 3.13 million shares. A decline of -3.99% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 1.7 of the overall float, the days-to-cover ratio (short ratio) decline to 1.7.
