Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Gaming and Leisure Properties Inc shares valued at $112,500 were purchased by Urdang E Scott on Mar 01 ’24. At $45.00 per share, Urdang E Scott acquired 2,500 shares. The insider’s holdings grew to 156,685 shares worth approximately $6.77 million following the completion of this transaction.
Also, Moore Brandon John sold 26,623 shares, netting a total of over 1,301,598 in proceeds. Following the sale of shares at $48.89 each, the insider now holds 242,414 shares.
Before that, Demchyk Matthew had sold 25,391 shares from its account. In a trade valued at $1,240,858, the SVP, Chief Investment Officer traded Gaming and Leisure Properties Inc shares for $48.87 each. Upon closing the transaction, the insider’s holdings decreased to 25,391 shares, worth approximately $2.51 million.
As published in a research note from JP Morgan on December 14, 2023, Gaming and Leisure Properties Inc [GLPI] has been rated down from an Overweight to a Neutral and the price target has been revised to $48. Analysts at Mizuho downgraded the stock from ‘”a Buy”‘ to ‘”a Neutral”‘ outlook in a report released in mid December. As of December 08, 2023, Goldman has initiated its “Neutral” rating for GLPI. Earlier on October 03, 2023, Wedbush initiated its rating. Their recommendation was “an Outperform” for GLPI stock.
Analyzing GLPI Stock Performance
During the last five days, there has been a drop of approximately -4.23%. Over the course of the year, Gaming and Leisure Properties Inc shares have dropped approximately -12.44%. Shares of the company reached a 52-week high of $49.99 on 01/02/24 and a 52-week low of $43.16 on 04/11/24. A 50-day SMA is recorded $45.38, while a 200-day SMA reached $46.60. Nevertheless, trading volume fell to 1.29 million shares from 1.02 million shares the previous day.
Support And Resistance Levels for Gaming and Leisure Properties Inc (GLPI)
According to the 24-hour chart, there is a support level at 43.02, which, if violated, would cause prices to drop to 42.82. In the upper region, resistance lies at 43.55. The next price resistance is at 43.88. RSI (Relative Strength Index) is 32.80 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.94, which suggests the price will decrease in the coming days. Percent R is at 98.43%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Gaming and Leisure Properties Inc subject to short interest?
Stocks of Gaming and Leisure Properties Inc saw a sharp rise in short interest on Mar 15, 2024 jumping by 0.59 million shares to 3.97 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 3.38 million shares. A jump of 14.86% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 2.38 of the overall float, the days-to-cover ratio (short ratio) jumped to 2.38.
