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An Analysis of Essent Group Ltd (ESNT)’s Potential Price Growth

NUE

In a filing, Essent Group Ltd revealed its SVP and Chief Risk Officer Bhasin Vijay unloaded Company’s shares for reported $0.71 million on Jan 19 ’24. In the deal valued at $55.05 per share,12,925 shares were sold. As a result of this transaction, Bhasin Vijay now holds 201,519 shares worth roughly $10.67 million.

Then, Gibbons Mary Lourdes sold 5,000 shares, generating $275,000 in total proceeds. Upon selling the shares at $55.00, the SVP and Chief Legal Officer now owns 247,969 shares.

Before that, Gibbons Mary Lourdes sold 8,355 shares. Essent Group Ltd shares valued at $435,713 were divested by the SVP and Chief Legal Officer at a price of $52.15 per share. As a result of the transaction, Gibbons Mary Lourdes now holds 252,969 shares, worth roughly $13.4 million.

JP Morgan downgraded its Essent Group Ltd [ESNT] rating to a Neutral from a an Overweight in a research note published on April 03, 2024; the price target was increased to $61 from $58. A number of analysts have revised their coverage, including UBS’s analysts, who began to cover the stock in early December with a ‘”a Neutral”‘ rating. Barclays began covering ESNT with “an Overweight” recommendation on November 15, 2023. Keefe Bruyette revised its rating on June 13, 2023. It rated ESNT as “a Mkt perform” which previously was an “an Outperform”.

Price Performance Review of ESNT

On Tuesday, Essent Group Ltd [NYSE:ESNT] saw its stock fall -1.32% to $52.97. Over the last five days, the stock has lost -2.18%. Essent Group Ltd shares have risen nearly 0.44% since the year began. Nevertheless, the stocks have risen 24.72% over the past one year. While a 52-week high of $59.90 was reached on 03/28/24, a 52-week low of $40.33 was recorded on 02/09/24. SMA at 50 days reached $54.91, while 200 days put it at $51.50. A total of 0.51 million shares were traded, compared to the trading of 0.43 million shares in the previous session.

Levels Of Support And Resistance For ESNT Stock

The 24-hour chart illustrates a support level at 52.64, which if violated will result in even more drops to 52.30. On the upside, there is a resistance level at 53.52. A further resistance level may holdings at 54.06. The Relative Strength Index (RSI) on the 14-day chart is 37.99, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.06, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 69.01%. Stochastics %K at 37.00% indicates the stock is a holding.

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