Synchrony Financial’s recent filing unveils that its insider Schaller Bart unloaded Company’s shares for reported $2.65 million on Mar 15 ’24. In the deal valued at $42.82 per share,61,781 shares were sold. As a result of this transaction, Schaller Bart now holds 50,757 shares worth roughly $2.1 million.
Then, Howse Curtis sold 6,179 shares, generating $264,585 in total proceeds. Upon selling the shares at $42.82, the insider now owns 152,604 shares.
Before that, DOUBLES BRIAN D sold 134,696 shares. Synchrony Financial shares valued at $5,557,213 were divested by the insider at a price of $41.26 per share. As a result of the transaction, DOUBLES BRIAN D now holds 660,353 shares, worth roughly $27.26 million.
Wolfe Research upgraded its Synchrony Financial [SYF] rating to an Outperform from a an Underperform in a research note published on April 04, 2024; the price target was increased to $50 from $36. Deutsche Bank began covering SYF with “Buy” recommendation on January 10, 2024. BMO Capital Markets revised its rating on January 10, 2024. It rated SYF as “a Market perform” which previously was an “an Outperform”.
Price Performance Review of SYF
On Friday, Synchrony Financial [NYSE:SYF] saw its stock jump 0.22% to $41.28. Over the last five days, the stock has lost -4.27%. Synchrony Financial shares have risen nearly 8.09% since the year began. Nevertheless, the stocks have risen 42.69% over the past one year. While a 52-week high of $43.83 was reached on 03/14/24, a 52-week low of $26.59 was recorded on 01/18/24. SMA at 50 days reached $40.70, while 200 days put it at $34.96. A total of 3.63 million shares were traded, compared to the trading of 3.91 million shares in the previous session.
Levels Of Support And Resistance For SYF Stock
The 24-hour chart illustrates a support level at 40.90, which if violated will result in even more drops to 40.52. On the upside, there is a resistance level at 41.69. A further resistance level may holdings at 42.11. The Relative Strength Index (RSI) on the 14-day chart is 48.69, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.64, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 76.54%. Stochastics %K at 21.52% indicates the stock is a holding.
How much short interest is there in Synchrony Financial?
A steep rise in short interest was recorded in Synchrony Financial stocks on Mar 15, 2024, dropping by -1.68 million shares to a total of 11.7 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 13.38 million shares. There was a decline of -14.36%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 3.89% of the overall stock float, the days-to-cover ratio (short ratio) fell to 2.53.
The most recent change occurred on November 15, 2023 when Barclays began covering the stock and recommended ‘”an Equal weight”‘ rating along with a $31 price target.
