The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Service Corp. International shares valued at $674,702 were sold by COELHO TONY on Mar 13 ’24. At $75.39 per share, COELHO TONY sold 8,950 shares. The insider’s holdings dropped to 60,887 shares worth approximately $4.28 million following the completion of this transaction.
Also, WARING SUMNER J III sold 50,000 shares, netting a total of over 3,753,449 in proceeds. Following the sale of shares at $75.07 each, the insider now holds 289,400 shares.
Before that, RYAN THOMAS L had sold 50,000 shares from its account. In a trade valued at $3,770,555, the President, CEO & Chairman traded Service Corp. International shares for $75.41 each. Upon closing the transaction, the insider’s holdings decreased to 50,000 shares, worth approximately $69.44 million.
As published in their initiating research note from UBS on November 30, 2023, Service Corp. International [SCI] has been a Buy and the price target has been revised to $72. Analysts at Truist started covering the stock with ‘”a Buy”‘ outlook in a report released in early October. As of February 20, 2019, Raymond James has decreased its “Strong buy” rating to a “an Outperform” for SCI.
Analyzing SCI Stock Performance
During the last five days, there has been a drop of approximately -2.28%. Over the course of the year, Service Corp. International shares have jumped approximately 2.64%. Shares of the company reached a 52-week high of $75.97 on 03/07/24 and a 52-week low of $64.10 on 02/06/24. A 50-day SMA is recorded $71.71, while a 200-day SMA reached $64.87. Nevertheless, trading volume fell to 0.8 million shares from 0.58 million shares the previous day.
Support And Resistance Levels for Service Corp. International (SCI)
According to the 24-hour chart, there is a support level at 69.85, which, if violated, would cause prices to drop to 69.44. In the upper region, resistance lies at 70.80. The next price resistance is at 71.34. RSI (Relative Strength Index) is 36.54 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.15, which suggests the price will decrease in the coming days. Percent R is at 94.35%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is Service Corp. International subject to short interest?
Stocks of Service Corp. International saw a sharp steep in short interest on Mar 28, 2024 dropping by -2.16 million shares to 5.04 million. Data from Yahoo Finance shows that the short interest on Feb 29, 2024 was 7.2 million shares. A decline of -42.86% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 6.11 of the overall float, the days-to-cover ratio (short ratio) decline to 6.11.
