Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Modine Manufacturing Co. shares valued at $1,606,584 were sold by Agen Brian Jon on Mar 28 ’24. At $95.64 per share, Agen Brian Jon sold 16,799 shares. The insider’s holdings dropped to 102,409 shares worth approximately $8.77 million following the completion of this transaction.
Also, Wilson David J. sold 8,000 shares, netting a total of over 713,768 in proceeds. Following the sale of shares at $89.22 each, the insider now holds 6,109 shares.
Before that, Patterson Christopher William had sold 14,225 shares from its account. In a trade valued at $1,288,243, the Director traded Modine Manufacturing Co. shares for $90.56 each. Upon closing the transaction, the insider’s holdings decreased to 14,225 shares, worth approximately $8.35 million.
As published in their initiating research note from Oppenheimer on March 19, 2024, Modine Manufacturing Co. [MOD] has been an Outperform and the price target has been revised to $105. As of June 07, 2023, B. Riley Securities has initiated its “Buy” rating for MOD. Earlier on December 06, 2022, CJS Securities initiated its rating. Their recommendation was “a Market outperform” for MOD stock.
Analyzing MOD Stock Performance
During the last five days, there has been a drop of approximately -6.95%. Over the course of the year, Modine Manufacturing Co. shares have jumped approximately 43.45%. Shares of the company reached a 52-week high of $106.01 on 03/21/24 and a 52-week low of $57.19 on 01/04/24. A 50-day SMA is recorded $87.48, while a 200-day SMA reached $58.23. Nevertheless, trading volume fell to 1.12 million shares from 0.59 million shares the previous day.
Support And Resistance Levels for Modine Manufacturing Co. (MOD)
According to the 24-hour chart, there is a support level at 82.96, which, if violated, would cause prices to drop to 80.27. In the upper region, resistance lies at 89.89. The next price resistance is at 94.13. RSI (Relative Strength Index) is 39.29 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -4.06, which suggests the price will decrease in the coming days. Percent R is at 92.51%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
