Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Bread Financial Holdings Inc shares valued at $1,605,247 were sold by Turtle Creek Asset Management on Jan 29 ’24. At $35.67 per share, Turtle Creek Asset Management sold 45,000 shares. The insider’s holdings dropped to 293,092 shares worth approximately $10.24 million following the completion of this transaction.
Also, Turtle Creek Asset Management sold 30,000 shares, netting a total of over 1,065,834 in proceeds. Following the sale of shares at $35.53 each, the insider now holds 295,787 shares.
Before that, Turtle Creek Asset Management had sold 30,000 shares from its account. In a trade valued at $966,977, the 10% Owner traded Bread Financial Holdings Inc shares for $32.23 each. Upon closing the transaction, the insider’s holdings decreased to 30,000 shares, worth approximately $10.4 million.
As published in a research note from Wolfe Research on April 04, 2024, Bread Financial Holdings Inc [BFH] has been rated up from a Peer perform to an Outperform and the price target has been revised to $48. Analysts at BMO Capital Markets started covering the stock with ‘”a Market perform”‘ outlook in a report released in early January. As of January 03, 2024, Evercore ISI has decreased its “an In-line” rating to a “an Underperform” for BFH. Earlier on December 18, 2023, JP Morgan downgraded its rating. Their new recommendation was “a Neutral” for BFH stock which previously was a “an Overweight”.
Analyzing BFH Stock Performance
During the last five days, there has been a drop of approximately -1.88%. Over the course of the year, Bread Financial Holdings Inc shares have jumped approximately 6.07%. Shares of the company reached a 52-week high of $40.86 on 03/21/24 and a 52-week low of $28.00 on 01/25/24. A 50-day SMA is recorded $36.78, while a 200-day SMA reached $34.00. Nevertheless, trading volume fell to 0.6 million shares from 0.41 million shares the previous day.
Support And Resistance Levels for Bread Financial Holdings Inc (BFH)
According to the 24-hour chart, there is a support level at 34.34, which, if violated, would cause prices to drop to 33.75. In the upper region, resistance lies at 35.59. The next price resistance is at 36.25. RSI (Relative Strength Index) is 42.38 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.46, which suggests the price will decrease in the coming days. Percent R is at 86.08%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is Bread Financial Holdings Inc subject to short interest?
Stocks of Bread Financial Holdings Inc saw a sharp steep in short interest on Mar 28, 2024 dropping by -0.64 million shares to 3.55 million. Data from Yahoo Finance shows that the short interest on Feb 29, 2024 was 4.19 million shares. A decline of -18.03% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 3.93 of the overall float, the days-to-cover ratio (short ratio) decline to 3.93.
