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. BRP Group Inc shares valued at $29,998 were sold by Cohen Seth Bala on Mar 15 ’24. At $29.04 per share, Cohen Seth Bala sold 1,033 shares. The insider’s holdings dropped to 10,657 shares worth approximately $0.29 million following the completion of this transaction.
Also, Baldwin Lowry sold 37,371 shares, netting a total of over 1,080,713 in proceeds. Following the sale of shares at $28.92 each, the insider now holds 0 shares.
Before that, Baldwin Lowry had sold 62,629 shares from its account. In a trade valued at $1,812,483, the Director traded BRP Group Inc shares for $28.94 each. Upon closing the transaction, the insider’s holdings decreased to 62,629 shares, worth approximately $1.03 million.
As published in a research note from JP Morgan on April 08, 2024, BRP Group Inc [BRP] has been rated up from a Neutral to an Overweight and the price target has been revised to $33 from $27. Analysts at Raymond James upgraded the stock from ‘”an Outperform”‘ to ‘”a Strong buy”‘ outlook in a report released in mid December. As of November 08, 2023, Wells Fargo has decreased its “an Overweight” rating to a “an Equal weight” for BRP. Earlier on March 03, 2023, William Blair downgraded its rating. Their new recommendation was “a Mkt perform” for BRP stock which previously was a “an Outperform”.
Analyzing BRP Stock Performance
During the last five days, there has been a surge of approximately 0.51%. Over the course of the year, BRP Group Inc shares have jumped approximately 14.28%. Shares of the company reached a 52-week high of $30.84 on 03/13/24 and a 52-week low of $21.70 on 02/06/24. A 50-day SMA is recorded $28.17, while a 200-day SMA reached $24.58. Nevertheless, trading volume fell to 0.36 million shares from 0.22 million shares the previous day.
Support And Resistance Levels for BRP Group Inc (BRP)
According to the 24-hour chart, there is a support level at 26.86, which, if violated, would cause prices to drop to 26.27. In the upper region, resistance lies at 27.80. The next price resistance is at 28.16. RSI (Relative Strength Index) is 49.49 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.27, which suggests the price will decrease in the coming days. Percent R is at 35.22%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
