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. Ally Financial Inc shares valued at $131,251 were sold by DEBRUNNER DAVID J on Dec 29 ’23. At $35.00 per share, DEBRUNNER DAVID J sold 3,750 shares. The insider’s holdings dropped to 100,787 shares worth approximately $3.83 million following the completion of this transaction.
Also, DEBRUNNER DAVID J sold 3,750 shares, netting a total of over 131,250 in proceeds. Following the sale of shares at $35.00 each, the insider now holds 104,537 shares.
Before that, DEBRUNNER DAVID J had sold 7,500 shares from its account. In a trade valued at $253,500, the VP, CAO, Controller traded Ally Financial Inc shares for $33.80 each. Upon closing the transaction, the insider’s holdings decreased to 7,500 shares, worth approximately $4.11 million.
As published in a research note from BofA Securities on April 09, 2024, Ally Financial Inc [ALLY] has been rated up from a Neutral to a Buy and the price target has been revised to $46 from $42. Analysts at JP Morgan downgraded the stock from ‘”a Neutral”‘ to ‘”an Underweight”‘ outlook in a report released in early April. As of February 08, 2024, Morgan Stanley has increased its “an Equal-weight” rating to a “an Overweight” for ALLY. Earlier on January 10, 2024, Deutsche Bank initiated its rating. Their recommendation was “a Buy” for ALLY stock.
Analyzing ALLY Stock Performance
During the last five days, there has been a drop of approximately -1.25%. Over the course of the year, Ally Financial Inc shares have jumped approximately 8.82%. Shares of the company reached a 52-week high of $41.56 on 03/21/24 and a 52-week low of $31.77 on 01/18/24. A 50-day SMA is recorded $37.49, while a 200-day SMA reached $31.01. Nevertheless, trading volume fell to 3.32 million shares from 3.48 million shares the previous day.
Support And Resistance Levels for Ally Financial Inc (ALLY)
According to the 24-hour chart, there is a support level at 37.22, which, if violated, would cause prices to drop to 36.43. In the upper region, resistance lies at 38.65. The next price resistance is at 39.29. RSI (Relative Strength Index) is 47.52 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.68, which suggests the price will decrease in the coming days. Percent R is at 74.42%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Ally Financial Inc subject to short interest?
Stocks of Ally Financial Inc saw a sharp steep in short interest on Mar 15, 2024 dropping by -1.44 million shares to 10.72 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 12.16 million shares. A decline of -13.43% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 2.77 of the overall float, the days-to-cover ratio (short ratio) decline to 2.77.
