MSC Industrial Direct Co., Inc.’s recent filing unveils that its Director JACOBSON MITCHELL unloaded Company’s shares for reported $2.43 million on Jan 31 ’24. In the deal valued at $99.31 per share,24,501 shares were sold. As a result of this transaction, JACOBSON MITCHELL now holds 1,683,810 shares worth roughly $160.92 million.
Then, JACOBSON MITCHELL sold 137,716 shares, generating $13,448,876 in total proceeds. Upon selling the shares at $97.66, the Director now owns 1,708,311 shares.
Before that, JACOBSON MITCHELL sold 18,746 shares. MSC Industrial Direct Co., Inc. shares valued at $1,830,159 were divested by the Director at a price of $97.63 per share. As a result of the transaction, JACOBSON MITCHELL now holds 1,846,027 shares, worth roughly $176.42 million.
Loop Capital upgraded its MSC Industrial Direct Co., Inc. [MSM] rating to a Buy from a a Hold in a research note published on October 09, 2023; the price target was increased to $124 from $96. William Blair also remained covering MSM and has decreased its forecast on June 30, 2022 with a “Mkt perform” recommendation from previously “an Outperform” rating. Loop Capital started covering the stock on August 03, 2021. It rated MSM as “a Hold”.
Price Performance Review of MSM
On Friday, MSC Industrial Direct Co., Inc. [NYSE:MSM] saw its stock jump 0.07% to $95.57. Over the last five days, the stock has lost -1.51%. MSC Industrial Direct Co., Inc. shares have fallen nearly -5.62% since the year began. Nevertheless, the stocks have risen 14.26% over the past one year. While a 52-week high of $105.77 was reached on 03/04/24, a 52-week low of $83.48 was recorded on 01/09/24. SMA at 50 days reached $98.43, while 200 days put it at $98.39. A total of 0.68 million shares were traded, compared to the trading of 0.57 million shares in the previous session.
Levels Of Support And Resistance For MSM Stock
The 24-hour chart illustrates a support level at 94.96, which if violated will result in even more drops to 94.36. On the upside, there is a resistance level at 96.15. A further resistance level may holdings at 96.74. The Relative Strength Index (RSI) on the 14-day chart is 42.86, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -1.60, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 74.57%. Stochastics %K at 22.67% indicates the stock is a holding.
How much short interest is there in MSC Industrial Direct Co., Inc.?
A steep rise in short interest was recorded in MSC Industrial Direct Co., Inc. stocks on Mar 15, 2024, growing by 70000.0 shares to a total of 1.52 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 1.45 million shares. There was a rise of 4.61%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 3.81% of the overall stock float, the days-to-cover ratio (short ratio) rose to 3.25.
