Bread Financial Holdings Inc’s recent filing unveils that its 10% Owner Turtle Creek Asset Management unloaded Company’s shares for reported $1.61 million on Jan 29 ’24. In the deal valued at $35.67 per share,45,000 shares were sold. As a result of this transaction, Turtle Creek Asset Management now holds 293,092 shares worth roughly $10.69 million.
Then, Turtle Creek Asset Management sold 30,000 shares, generating $1,065,834 in total proceeds. Upon selling the shares at $35.53, the 10% Owner now owns 295,787 shares.
Before that, Turtle Creek Asset Management sold 30,000 shares. Bread Financial Holdings Inc shares valued at $966,977 were divested by the 10% Owner at a price of $32.23 per share. As a result of the transaction, Turtle Creek Asset Management now holds 297,583 shares, worth roughly $10.85 million.
Wolfe Research upgraded its Bread Financial Holdings Inc [BFH] rating to an Outperform from a a Peer perform in a research note published recently. A number of analysts have revised their coverage, including BMO Capital Markets’s analysts, who began to cover the stock in early January with a ‘”a Market perform”‘ rating. Evercore ISI also remained covering BFH and has decreased its forecast on January 03, 2024 with a “an Underperform” recommendation from previously “an In-line” rating. JP Morgan revised its rating on December 18, 2023. It rated BFH as “a Neutral” which previously was an “an Overweight”.
Price Performance Review of BFH
On Monday, Bread Financial Holdings Inc [NYSE:BFH] saw its stock jump 2.79% to $36.47. Over the last five days, the stock has gained 1.36%. Bread Financial Holdings Inc shares have risen nearly 10.72% since the year began. Nevertheless, the stocks have risen 26.11% over the past one year. While a 52-week high of $41.89 was reached on 03/21/24, a 52-week low of $23.19 was recorded on 01/25/24. SMA at 50 days reached $36.82, while 200 days put it at $33.91. A total of 0.55 million shares were traded, compared to the trading of 0.53 million shares in the previous session.
Levels Of Support And Resistance For BFH Stock
The 24-hour chart illustrates a support level at 35.68, which if violated will result in even more drops to 34.88. On the upside, there is a resistance level at 37.24. A further resistance level may holdings at 38.00. The Relative Strength Index (RSI) on the 14-day chart is 49.17, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.92, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 71.04%. Stochastics %K at 18.66% indicates the stock is a buying.
How much short interest is there in Bread Financial Holdings Inc?
A steep rise in short interest was recorded in Bread Financial Holdings Inc stocks on Mar 15, 2024, dropping by -0.7 million shares to a total of 3.65 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 4.35 million shares. There was a decline of -19.18%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 8.40% of the overall stock float, the days-to-cover ratio (short ratio) fell to 4.33.
