Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Essent Group Ltd shares valued at $711,521 were sold by Bhasin Vijay on Jan 19 ’24. At $55.05 per share, Bhasin Vijay sold 12,925 shares. The insider’s holdings dropped to 201,519 shares worth approximately $11.29 million following the completion of this transaction.
Also, Gibbons Mary Lourdes sold 5,000 shares, netting a total of over 275,000 in proceeds. Following the sale of shares at $55.00 each, the insider now holds 247,969 shares.
Before that, Gibbons Mary Lourdes had sold 8,355 shares from its account. In a trade valued at $435,713, the SVP and Chief Legal Officer traded Essent Group Ltd shares for $52.15 each. Upon closing the transaction, the insider’s holdings decreased to 8,355 shares, worth approximately $14.17 million.
As published in a research note from JP Morgan on April 03, 2024, Essent Group Ltd [ESNT] has been rated down from an Overweight to a Neutral and the price target has been revised to $61 from $58. Analysts at UBS started covering the stock with ‘”a Neutral”‘ outlook in a report released in early December. As of November 15, 2023, Barclays has initiated its “an Overweight” rating for ESNT. Earlier on June 13, 2023, Keefe Bruyette downgraded its rating. Their new recommendation was “a Mkt perform” for ESNT stock which previously was a “an Outperform”.
Analyzing ESNT Stock Performance
During the last five days, there has been a surge of approximately 4.52%. Over the course of the year, Essent Group Ltd shares have jumped approximately 6.20%. Shares of the company reached a 52-week high of $59.90 on 03/28/24 and a 52-week low of $50.65 on 02/09/24. A 50-day SMA is recorded $55.22, while a 200-day SMA reached $51.67. Nevertheless, trading volume fell to 0.65 million shares from 0.64 million shares the previous day.
Support And Resistance Levels for Essent Group Ltd (ESNT)
According to the 24-hour chart, there is a support level at 55.78, which, if violated, would cause prices to drop to 55.56. In the upper region, resistance lies at 56.36. The next price resistance is at 56.72. RSI (Relative Strength Index) is 58.90 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.72, which suggests the price will increase in the coming days. Percent R is at 20.00%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
