Wendy’s Co’s filing revealed that its Director GILBERT KENNETH W unloaded Company’s shares for reported $81315.0 on Mar 01 ’24. In the deal valued at $18.07 per share,4,500 shares were sold. As a result of this transaction, GILBERT KENNETH W now holds 31,304 shares worth roughly $0.57 million.
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Then, LEVATO JOSEPH A sold 20,000 shares, generating $383,626 in total proceeds. Upon selling the shares at $19.18, the Director now owns 30,407 shares.
Before that, Peltz Matthew H. sold 2,905,569 shares. Wendy’s Co shares valued at $58,983,051 were divested by the Director at a price of $20.30 per share. As a result of the transaction, Peltz Matthew H. now holds 17,827,059 shares, worth roughly $324.45 million.
Bernstein downgraded its Wendy’s Co [WEN] rating to a Mkt perform from a an Outperform in a research note published on February 22, 2024; the price target was decreased to $20 from $24. A number of analysts have revised their coverage, including JP Morgan’s analysts, who decreased its forecast for the stock in late February from “an Overweight” to “a Neutral”. Gordon Haskett also remained covering WEN and has decreased its forecast on January 16, 2024 with a “Hold” recommendation from previously “Buy” rating. Barclays revised its rating on January 03, 2024. It rated WEN as “an Equal weight” which previously was an “an Overweight”.
Price Performance Review of WEN
On Tuesday, Wendy’s Co [NASDAQ:WEN] saw its stock fall -0.33% to $18.20. Over the last five days, the stock has lost -1.03%. Wendy’s Co shares have fallen nearly -6.57% since the year began. Nevertheless, the stocks have fallen -13.42% over the past one year. While a 52-week high of $23.90 was reached on 01/10/24, a 52-week low of $17.64 was recorded on 02/21/24. SMA at 50 days reached $18.69, while 200 days put it at $19.83. A total of 4.32 million shares were traded, compared to the trading of 3.19 million shares in the previous session.
Levels Of Support And Resistance For WEN Stock
The 24-hour chart illustrates a support level at 18.08, which if violated will result in even more drops to 17.95. On the upside, there is a resistance level at 18.34. A further resistance level may holdings at 18.47. The Relative Strength Index (RSI) on the 14-day chart is 44.72, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.08, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 88.68%. Stochastics %K at 24.84% indicates the stock is a holding.
How much short interest is there in Wendy’s Co?
A steep rise in short interest was recorded in Wendy’s Co stocks on Feb 29, 2024, dropping by 60000.0 shares to a total of 8.16 million shares. Yahoo Finance data shows the prior-month short interest on Jan 31, 2024 was 8.22 million shares. There was a decline of -0.74%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 5.20% of the overall stock float, the days-to-cover ratio (short ratio) fell to 2.66.
