Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. MSC Industrial Direct Co., Inc. shares valued at $2,433,295 were sold by JACOBSON MITCHELL on Jan 31 ’24. At $99.31 per share, JACOBSON MITCHELL sold 24,501 shares. The insider’s holdings dropped to 1,683,810 shares worth approximately $156.46 million following the completion of this transaction.
Also, JACOBSON MITCHELL sold 137,716 shares, netting a total of over 13,448,876 in proceeds. Following the sale of shares at $97.66 each, the insider now holds 1,708,311 shares.
Before that, JACOBSON MITCHELL had sold 18,746 shares from its account. In a trade valued at $1,830,159, the Director traded MSC Industrial Direct Co., Inc. shares for $97.63 each. Upon closing the transaction, the insider’s holdings decreased to 18,746 shares, worth approximately $171.53 million.
As published in a research note from Loop Capital on October 09, 2023, MSC Industrial Direct Co., Inc. [MSM] has been rated up from a Hold to a Buy and the price target has been revised to $124 from $96. As of June 30, 2022, William Blair has decreased its “an Outperform” rating to a “Mkt perform” for MSM. Earlier on August 03, 2021, Loop Capital initiated its rating. Their recommendation was “a Hold” for MSM stock.
Analyzing MSM Stock Performance
During the last five days, there has been a drop of approximately -2.30%. Over the course of the year, MSC Industrial Direct Co., Inc. shares have dropped approximately -8.24%. Shares of the company reached a 52-week high of $104.76 on 03/04/24 and a 52-week low of $90.86 on 01/09/24. A 50-day SMA is recorded $98.24, while a 200-day SMA reached $98.35. Nevertheless, trading volume fell to 0.69 million shares from 0.53 million shares the previous day.
Support And Resistance Levels for MSC Industrial Direct Co., Inc. (MSM)
According to the 24-hour chart, there is a support level at 92.05, which, if violated, would cause prices to drop to 91.18. In the upper region, resistance lies at 93.92. The next price resistance is at 94.92. RSI (Relative Strength Index) is 35.41 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -2.41, which suggests the price will decrease in the coming days. Percent R is at 90.94%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is MSC Industrial Direct Co., Inc. subject to short interest?
Stocks of MSC Industrial Direct Co., Inc. saw a sharp rise in short interest on Mar 28, 2024 jumping by 0.24 million shares to 1.63 million. Data from Yahoo Finance shows that the short interest on Feb 29, 2024 was 1.39 million shares. A jump of 14.72% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 3.15 of the overall float, the days-to-cover ratio (short ratio) jumped to 3.15.
