Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Warner Music Group Corp shares valued at $2,599,954 were sold by Benet Lincoln E on Feb 15 ’24. At $36.12 per share, Benet Lincoln E sold 71,981 shares. The insider’s holdings dropped to 277,360 shares worth approximately $9.89 million following the completion of this transaction.
Also, Lousada Max sold 869,008 shares, netting a total of over 28,990,107 in proceeds. Following the sale of shares at $33.36 each, the insider now holds 1,883,578 shares.
Analysts at Redburn Atlantic upgraded the stock from ‘”a Sell”‘ to ‘”a Neutral”‘ outlook in a report released in early February. As of November 15, 2023, Wells Fargo has initiated its “an Equal weight” rating for WMG. Earlier on October 03, 2023, UBS upgraded its rating. Their new recommendation was “a Buy” for WMG stock which previously was a “a Neutral”.
Analyzing WMG Stock Performance
During the last five days, there has been a surge of approximately 6.64%. Over the course of the year, Warner Music Group Corp shares have dropped approximately -0.39%. Shares of the company reached a 52-week high of $38.05 on 02/08/24 and a 52-week low of $31.32 on 04/25/24. A 50-day SMA is recorded $33.65, while a 200-day SMA reached $33.49. Nevertheless, trading volume fell to 2.52 million shares from 2.02 million shares the previous day.
Support And Resistance Levels for Warner Music Group Corp (WMG)
According to the 24-hour chart, there is a support level at 35.07, which, if violated, would cause prices to drop to 34.50. In the upper region, resistance lies at 35.95. The next price resistance is at 36.26. RSI (Relative Strength Index) is 64.65 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 2.05, which suggests the price will increase in the coming days. Percent R is at 0.69%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
