Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Genuine Parts Co. shares valued at $503,490 were sold by NEEDHAM WENDY B on Mar 20 ’24. At $154.92 per share, NEEDHAM WENDY B sold 3,250 shares. The insider’s holdings dropped to 14,397 shares worth approximately $2.1 million following the completion of this transaction.
Also, LOUDERMILK ROBERT C JR purchased 2,000 shares, netting a total of over 303,500 in proceeds. Following the buying of shares at $151.75 each, the insider now holds 33,162 shares.
Before that, BREAUX RANDALL P had added 500 shares to its account. In a trade valued at $74,720, the Group President, GPC N.A. bought Genuine Parts Co. shares for $149.44 each. Upon closing the transaction, the insider’s holdings increased to 500 shares, worth approximately $3.0 million.
As published in their initiating research note from UBS on October 12, 2023, Genuine Parts Co. [GPC] has been a Neutral and the price target has been revised to $160. Analysts at Northcoast started covering the stock with ‘”a Buy”‘ outlook in a report released in late June. As of June 01, 2023, BofA Securities has increased its “Neutral” rating to a “Buy” for GPC. Earlier on May 02, 2023, Goldman upgraded its rating. Their new recommendation was “a Neutral” for GPC stock which previously was a “a Sell”.
Analyzing GPC Stock Performance
During the last five days, there has been a drop of approximately -1.84%. Over the course of the year, Genuine Parts Co. shares have jumped approximately 5.49%. Shares of the company reached a 52-week high of $157.77 on 03/22/24 and a 52-week low of $135.00 on 02/15/24. A 50-day SMA is recorded $149.02, while a 200-day SMA reached $146.70. Nevertheless, trading volume fell to 0.88 million shares from 0.74 million shares the previous day.
Support And Resistance Levels for Genuine Parts Co. (GPC)
According to the 24-hour chart, there is a support level at 144.77, which, if violated, would cause prices to drop to 143.44. In the upper region, resistance lies at 148.28. The next price resistance is at 150.46. RSI (Relative Strength Index) is 35.92 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -3.67, which suggests the price will decrease in the coming days. Percent R is at 95.89%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is Genuine Parts Co. subject to short interest?
Stocks of Genuine Parts Co. saw a sharp rise in short interest on Mar 28, 2024 jumping by 0.81 million shares to 2.3 million. Data from Yahoo Finance shows that the short interest on Feb 29, 2024 was 1.49 million shares. A jump of 35.22% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 2.26 of the overall float, the days-to-cover ratio (short ratio) jumped to 2.26.
