Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Darden Restaurants, Inc. shares valued at $192,858 were sold by Simon William S on Apr 08 ’24. At $158.21 per share, Simon William S sold 1,219 shares. The insider’s holdings dropped to 6,281 shares worth approximately $0.98 million following the completion of this transaction.
Also, Martin Melvin John sold 3,100 shares, netting a total of over 519,622 in proceeds. Following the sale of shares at $167.62 each, the insider now holds 14,108 shares.
Before that, Martin Melvin John had sold 7,673 shares from its account. In a trade valued at $1,270,037, the President, SRG traded Darden Restaurants, Inc. shares for $165.52 each. Upon closing the transaction, the insider’s holdings decreased to 7,673 shares, worth approximately $2.68 million.
As published in their initiating research note from Deutsche Bank on October 19, 2023, Darden Restaurants, Inc. [DRI] has been a Buy and the price target has been revised to $159. Analysts at Piper Sandler started covering the stock with ‘”a Neutral”‘ outlook in a report released in mid July. As of February 02, 2023, Guggenheim has initiated its “Buy” rating for DRI. Earlier on January 24, 2023, Wells Fargo initiated its rating. Their recommendation was “an Equal weight” for DRI stock.
Analyzing DRI Stock Performance
During the last five days, there has been a drop of approximately -4.34%. Over the course of the year, Darden Restaurants, Inc. shares have dropped approximately -5.11%. Shares of the company reached a 52-week high of $176.84 on 03/04/24 and a 52-week low of $154.74 on 01/16/24. A 50-day SMA is recorded $167.01, while a 200-day SMA reached $158.77. Nevertheless, trading volume fell to 1.09 million shares from 0.93 million shares the previous day.
Support And Resistance Levels for Darden Restaurants, Inc. (DRI)
According to the 24-hour chart, there is a support level at 154.98, which, if violated, would cause prices to drop to 154.07. In the upper region, resistance lies at 156.72. The next price resistance is at 157.55. RSI (Relative Strength Index) is 32.40 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -4.75, which suggests the price will decrease in the coming days. Percent R is at 92.34%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is Darden Restaurants, Inc. subject to short interest?
Stocks of Darden Restaurants, Inc. saw a sharp rise in short interest on Mar 28, 2024 jumping by 0.33 million shares to 5.89 million. Data from Yahoo Finance shows that the short interest on Feb 29, 2024 was 5.56 million shares. A jump of 5.6% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 4.37 of the overall float, the days-to-cover ratio (short ratio) jumped to 4.37.
