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. Masco Corp. shares valued at $95,538,185 were sold by Allman Keith J. on Mar 06 ’24. At $75.79 per share, Allman Keith J. sold 1,260,508 shares. The insider’s holdings dropped to 190,079 shares worth approximately $14.06 million following the completion of this transaction.
Also, Straber Renee sold 52,264 shares, netting a total of over 3,988,423 in proceeds. Following the sale of shares at $76.31 each, the insider now holds 33,864 shares.
Before that, Marshall Richard Allan had sold 5,000 shares from its account. In a trade valued at $385,257, the VP – Masco Operating Sys. traded Masco Corp. shares for $77.05 each. Upon closing the transaction, the insider’s holdings decreased to 5,000 shares, worth approximately $0.77 million.
As published in their initiating research note from Citigroup on February 02, 2024, Masco Corp. [MAS] has been a Neutral and the price target has been revised to $70. Analysts at Oppenheimer started covering the stock with ‘”a Perform”‘ outlook in a report released in mid January. As of October 17, 2023, Wells Fargo has initiated its “an Overweight” rating for MAS. Earlier on April 28, 2023, Jefferies upgraded its rating. Their new recommendation was “a Buy” for MAS stock which previously was a “a Hold”.
Analyzing MAS Stock Performance
During the last five days, there has been a drop of approximately -5.02%. Over the course of the year, Masco Corp. shares have jumped approximately 10.47%. Shares of the company reached a 52-week high of $78.94 on 03/28/24 and a 52-week low of $63.60 on 01/04/24. A 50-day SMA is recorded $74.71, while a 200-day SMA reached $62.91. Nevertheless, trading volume fell to 2.68 million shares from 1.18 million shares the previous day.
Support And Resistance Levels for Masco Corp. (MAS)
According to the 24-hour chart, there is a support level at 73.34, which, if violated, would cause prices to drop to 72.70. In the upper region, resistance lies at 74.98. The next price resistance is at 75.98. RSI (Relative Strength Index) is 41.53 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.10, which suggests the price will decrease in the coming days. Percent R is at 94.29%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Masco Corp. subject to short interest?
Stocks of Masco Corp. saw a sharp rise in short interest on Mar 15, 2024 jumping by 0.97 million shares to 4.73 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 3.76 million shares. A jump of 20.51% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 2.09 of the overall float, the days-to-cover ratio (short ratio) jumped to 2.09.
