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A company insider recently bought 2,000 shares of Brookline Bancorp, Inc. [BRKL]. Should You Buy?

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Brookline Bancorp, Inc. shares valued at $16,878 were purchased by Hill Willard I JR on Apr 29 ’24. At $8.44 per share, Hill Willard I JR acquired 2,000 shares. The insider’s holdings grew to 25,631 shares worth approximately $0.22 million following the completion of this transaction.

Also, Cosman James M sold 16,000 shares, netting a total of over 154,560 in proceeds. Following the sale of shares at $9.66 each, the insider now holds 69,873 shares.

Before that, Cosman James M had sold 16,000 shares from its account. In a trade valued at $160,000, the Chief Operations Officer traded Brookline Bancorp, Inc. shares for $10.00 each. Upon closing the transaction, the insider’s holdings decreased to 16,000 shares, worth approximately $0.59 million.

As published in their initiating research note from Hovde Group on September 20, 2023, Brookline Bancorp, Inc. [BRKL] has been an Outperform and the price target has been revised to $10.75. Analysts at Seaport Research Partners started covering the stock with ‘”a Buy”‘ outlook in a report released in mid September. As of December 21, 2022, Raymond James has initiated its “Mkt perform” rating for BRKL.

Analyzing BRKL Stock Performance

During the last five days, there has been a drop of approximately -11.01%. Over the course of the year, Brookline Bancorp, Inc. shares have dropped approximately -22.18%. Shares of the company reached a 52-week high of $11.52 on 01/30/24 and a 52-week low of $8.07 on 04/25/24. A 50-day SMA is recorded $9.42, while a 200-day SMA reached $9.71. Nevertheless, trading volume fell to 0.63 million shares from 0.5 million shares the previous day.

Support And Resistance Levels for Brookline Bancorp, Inc. (BRKL)

According to the 24-hour chart, there is a support level at 8.37, which, if violated, would cause prices to drop to 8.26. In the upper region, resistance lies at 8.64. The next price resistance is at 8.80. RSI (Relative Strength Index) is 36.22 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.55, which suggests the price will decrease in the coming days. Percent R is at 73.14%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

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