Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Lear Corp. shares valued at $387,228 were sold by Cardew Jason M on Mar 05 ’24. At $140.81 per share, Cardew Jason M sold 2,750 shares. The insider’s holdings dropped to 17,506 shares worth approximately $2.54 million following the completion of this transaction.
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Also, SCOTT RAYMOND E sold 10,652 shares, netting a total of over 1,415,225 in proceeds. Following the sale of shares at $132.86 each, the insider now holds 13,627 shares.
Before that, SCOTT RAYMOND E had sold 2,977 shares from its account. In a trade valued at $402,669, the President and CEO traded Lear Corp. shares for $135.26 each. Upon closing the transaction, the insider’s holdings decreased to 2,977 shares, worth approximately $0.43 million.
As published in a research note from Barclays on October 12, 2023, Lear Corp. [LEA] has been rated up from an Equal weight to an Overweight and the price target has been revised to $177. Analysts at UBS started covering the stock with ‘”a Neutral”‘ outlook in a report released in mid September. As of June 01, 2023, Exane BNP Paribas has increased its “Neutral” rating to a “an Outperform” for LEA. Earlier on February 15, 2023, Barclays initiated its rating. Their recommendation was “an Equal weight” for LEA stock.
Analyzing LEA Stock Performance
During the last five days, there has been a surge of approximately 0.65%. Over the course of the year, Lear Corp. shares have jumped approximately 2.58%. Shares of the company reached a 52-week high of $147.11 on 03/25/24 and a 52-week low of $128.00 on 02/06/24. A 50-day SMA is recorded $137.04, while a 200-day SMA reached $138.72. Nevertheless, trading volume fell to 0.52 million shares from 0.7 million shares the previous day.
Support And Resistance Levels for Lear Corp. (LEA)
According to the 24-hour chart, there is a support level at 142.82, which, if violated, would cause prices to drop to 140.80. In the upper region, resistance lies at 145.97. The next price resistance is at 147.10. RSI (Relative Strength Index) is 60.29 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.10, which suggests the price will increase in the coming days. Percent R is at 30.01%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Lear Corp. subject to short interest?
Stocks of Lear Corp. saw a sharp steep in short interest on Feb 29, 2024 dropping by -0.17 million shares to 2.17 million. Data from Yahoo Finance shows that the short interest on Jan 31, 2024 was 2.34 million shares. A decline of -7.83% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 4.09 of the overall float, the days-to-cover ratio (short ratio) decline to 4.09.
