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. Brinker International, Inc. shares valued at $1,086,514 were sold by Taylor Joseph G on Feb 02 ’24. At $44.97 per share, Taylor Joseph G sold 24,163 shares. The insider’s holdings dropped to 56,661 shares worth approximately $2.64 million following the completion of this transaction.
Also, Taylor Joseph G sold 5,000 shares, netting a total of over 206,050 in proceeds. Following the sale of shares at $41.21 each, the insider now holds 66,286 shares.
Before that, Comings Douglas N. had sold 14,951 shares from its account. In a trade valued at $609,403, the SVP & COO, Chili’s traded Brinker International, Inc. shares for $40.76 each. Upon closing the transaction, the insider’s holdings decreased to 14,951 shares, worth approximately $1.75 million.
As published in a research note from Gordon Haskett on January 16, 2024, Brinker International, Inc. [EAT] has been rated up from a Hold to a Buy and the price target has been revised to $48. Analysts at Morgan Stanley downgraded the stock from ‘”an Equal-weight”‘ to ‘”an Underweight”‘ outlook in a report released in mid January. As of October 18, 2023, Raymond James has increased its “an Outperform” rating to a “Strong buy” for EAT. Earlier on September 29, 2023, Stifel upgraded its rating. Their new recommendation was “a Buy” for EAT stock which previously was a “a Hold”.
Analyzing EAT Stock Performance
During the last five days, there has been a drop of approximately -0.98%. Over the course of the year, Brinker International, Inc. shares have jumped approximately 8.04%. Shares of the company reached a 52-week high of $51.72 on 04/01/24 and a 52-week low of $37.25 on 01/16/24. A 50-day SMA is recorded $46.70, while a 200-day SMA reached $38.75. Nevertheless, trading volume fell to 1.29 million shares from 0.83 million shares the previous day.
Support And Resistance Levels for Brinker International, Inc. (EAT)
According to the 24-hour chart, there is a support level at 45.57, which, if violated, would cause prices to drop to 44.48. In the upper region, resistance lies at 47.78. The next price resistance is at 48.90. RSI (Relative Strength Index) is 46.77 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.78, which suggests the price will decrease in the coming days. Percent R is at 72.53%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Brinker International, Inc. subject to short interest?
Stocks of Brinker International, Inc. saw a sharp steep in short interest on Mar 28, 2024 dropping by -0.23 million shares to 5.85 million. Data from Yahoo Finance shows that the short interest on Feb 29, 2024 was 6.08 million shares. A decline of -3.93% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 4.93 of the overall float, the days-to-cover ratio (short ratio) decline to 4.93.
