Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Global Payments, Inc. shares valued at $701,891 were sold by WOODS M TROY on Dec 14 ’23. At $133.77 per share, WOODS M TROY sold 5,247 shares. The insider’s holdings dropped to 248,029 shares worth approximately $32.68 million following the completion of this transaction.
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Also, BALDWIN ROBERT H B JR purchased 3,500 shares, netting a total of over 420,210 in proceeds. Following the buying of shares at $120.06 each, the insider now holds 40,892 shares.
Before that, SHEFFIELD DAVID M had sold 1,800 shares from its account. In a trade valued at $203,130, the EVP, Chief Accounting Officer traded Global Payments, Inc. shares for $112.85 each. Upon closing the transaction, the insider’s holdings decreased to 1,800 shares, worth approximately $2.94 million.
As published in a research note from Evercore ISI on February 02, 2024, Global Payments, Inc. [GPN] has been rated up from an In-line to an Outperform and the price target has been revised to $185 from $129. Analysts at BMO Capital Markets started covering the stock with ‘”a Market perform”‘ outlook in a report released in early December. As of November 20, 2023, BTIG Research has initiated its “Buy” rating for GPN.
Analyzing GPN Stock Performance
During the last five days, there has been a drop of approximately -0.99%. Over the course of the year, Global Payments, Inc. shares have jumped approximately 3.76%. Shares of the company reached a 52-week high of $141.77 on 02/15/24 and a 52-week low of $124.93 on 01/04/24. A 50-day SMA is recorded $132.73, while a 200-day SMA reached $120.55. Nevertheless, trading volume fell to 3.16 million shares from 3.93 million shares the previous day.
Support And Resistance Levels for Global Payments, Inc. (GPN)
According to the 24-hour chart, there is a support level at 128.27, which, if violated, would cause prices to drop to 124.77. In the upper region, resistance lies at 135.30. The next price resistance is at 138.83. RSI (Relative Strength Index) is 49.23 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.79, which suggests the price will decrease in the coming days. Percent R is at 71.27%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Global Payments, Inc. subject to short interest?
Stocks of Global Payments, Inc. saw a sharp rise in short interest on Feb 29, 2024 jumping by 1.52 million shares to 6.78 million. Data from Yahoo Finance shows that the short interest on Jan 31, 2024 was 5.26 million shares. A jump of 22.42% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 2.75 of the overall float, the days-to-cover ratio (short ratio) jumped to 2.75.
