Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Northern Trust Corp. shares valued at $2,434,703 were sold by FRADKIN STEVEN L on Feb 22 ’24. At $80.11 per share, FRADKIN STEVEN L sold 30,392 shares. The insider’s holdings dropped to 55,707 shares worth approximately $4.76 million following the completion of this transaction.
Also, Tyler Jason J. purchased 400 shares, netting a total of over 25,076 in proceeds. Following the buying of shares at $62.69 each, the insider now holds 41,477 shares.
Before that, Levy Susan Cohen had added 5,000 shares to its account. In a trade valued at $322,050, the EVP and General Counsel bought Northern Trust Corp. shares for $64.41 each. Upon closing the transaction, the insider’s holdings increased to 5,000 shares, worth approximately $2.65 million.
As published in a research note from Morgan Stanley on January 30, 2024, Northern Trust Corp. [NTRS] has been rated down from an Equal-weight to an Underweight and the price target has been revised to $86 from $82. Analysts at Jefferies upgraded the stock from ‘”a Hold”‘ to ‘”a Buy”‘ outlook in a report released in early January. As of January 03, 2024, Wolfe Research has decreased its “Peer perform” rating to a “an Underperform” for NTRS. Earlier on October 18, 2023, Wells Fargo downgraded its rating. Their new recommendation was “an Equal weight” for NTRS stock which previously was a “an Overweight”.
Analyzing NTRS Stock Performance
During the last five days, there has been a drop of approximately -2.87%. Over the course of the year, Northern Trust Corp. shares have jumped approximately 1.22%. Shares of the company reached a 52-week high of $89.25 on 03/28/24 and a 52-week low of $76.67 on 02/13/24. A 50-day SMA is recorded $82.65, while a 200-day SMA reached $77.41. Nevertheless, trading volume fell to 0.83 million shares from 0.76 million shares the previous day.
Support And Resistance Levels for Northern Trust Corp. (NTRS)
According to the 24-hour chart, there is a support level at 84.74, which, if violated, would cause prices to drop to 84.07. In the upper region, resistance lies at 86.50. The next price resistance is at 87.59. RSI (Relative Strength Index) is 50.70 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.04, which suggests the price will decrease in the coming days. Percent R is at 80.42%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Northern Trust Corp. subject to short interest?
Stocks of Northern Trust Corp. saw a sharp rise in short interest on Mar 28, 2024 jumping by 70000.0 shares to 2.06 million. Data from Yahoo Finance shows that the short interest on Feb 29, 2024 was 1.99 million shares. A jump of 3.4% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 1.04 of the overall float, the days-to-cover ratio (short ratio) jumped to 1.04.
