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. Synchrony Financial shares valued at $2,645,462 were sold by Schaller Bart on Mar 15 ’24. At $42.82 per share, Schaller Bart sold 61,781 shares. The insider’s holdings dropped to 50,757 shares worth approximately $2.1 million following the completion of this transaction.
Also, Howse Curtis sold 6,179 shares, netting a total of over 264,585 in proceeds. Following the sale of shares at $42.82 each, the insider now holds 152,604 shares.
Before that, DOUBLES BRIAN D had sold 134,696 shares from its account. In a trade valued at $5,557,213, the insider traded Synchrony Financial shares for $41.26 each. Upon closing the transaction, the insider’s holdings decreased to 134,696 shares, worth approximately $27.37 million.
As published in a research note from Wolfe Research on April 04, 2024, Synchrony Financial [SYF] has been rated up from an Underperform to an Outperform and the price target has been revised to $50 from $36. As of January 10, 2024, Deutsche Bank has initiated its “Buy” rating for SYF. Earlier on January 10, 2024, BMO Capital Markets downgraded its rating. Their new recommendation was “a Market perform” for SYF stock which previously was a “an Outperform”.
Analyzing SYF Stock Performance
During the last five days, there has been a surge of approximately 0.56%. Over the course of the year, Synchrony Financial shares have jumped approximately 8.51%. Shares of the company reached a 52-week high of $43.83 on 03/14/24 and a 52-week low of $35.29 on 01/18/24. A 50-day SMA is recorded $40.88, while a 200-day SMA reached $35.10. Nevertheless, trading volume fell to 4.03 million shares from 4.58 million shares the previous day.
Support And Resistance Levels for Synchrony Financial (SYF)
According to the 24-hour chart, there is a support level at 40.91, which, if violated, would cause prices to drop to 40.37. In the upper region, resistance lies at 41.92. The next price resistance is at 42.39. RSI (Relative Strength Index) is 49.05 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.29, which suggests the price will decrease in the coming days. Percent R is at 71.50%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Synchrony Financial subject to short interest?
Stocks of Synchrony Financial saw a sharp steep in short interest on Mar 15, 2024 dropping by -1.68 million shares to 11.7 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 13.38 million shares. A decline of -14.36% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 2.53 of the overall float, the days-to-cover ratio (short ratio) decline to 2.53.
