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Piper Sandler Downgrades OneMain Holdings Inc (OMF) to a Neutral from an Overweight

In a filing, OneMain Holdings Inc revealed its President & CEO Shulman Douglas H. unloaded Company’s shares for reported $0.98 million on May 08 ’24. In the deal valued at $51.37 per share,19,000 shares were sold. As a result of this transaction, Shulman Douglas H. now holds 451,300 shares worth roughly $22.88 million.

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Piper Sandler downgraded its OneMain Holdings Inc [OMF] rating to a Neutral from a an Overweight in a research note published on February 08, 2024; the price target was decreased to $49 from $55. A number of analysts have revised their coverage, including Northland Capital’s analysts, who decreased its forecast for the stock in mid January from “an Outperform” to “a Market perform”. Deutsche Bank began covering OMF with “Buy” recommendation on January 10, 2024. Barclays started covering the stock on November 15, 2023. It rated OMF as “an Overweight”.

Price Performance Review of OMF

On Friday, OneMain Holdings Inc [NYSE:OMF] saw its stock fall -1.09% to $50.70. Over the last five days, the stock has lost -0.98%. OneMain Holdings Inc shares have risen nearly 3.05% since the year began. Nevertheless, the stocks have risen 41.42% over the past one year. While a 52-week high of $53.65 was reached on 04/30/24, a 52-week low of $35.00 was recorded on 02/08/24. SMA at 50 days reached $49.43, while 200 days put it at $44.42. A total of 0.68 million shares were traded, compared to the trading of 0.71 million shares in the previous session.

Levels Of Support And Resistance For OMF Stock

The 24-hour chart illustrates a support level at 50.27, which if violated will result in even more drops to 49.84. On the upside, there is a resistance level at 51.38. A further resistance level may holdings at 52.06. The Relative Strength Index (RSI) on the 14-day chart is 53.22, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.07, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 64.13%. Stochastics %K at 51.69% indicates the stock is a holding.

The most recent change occurred on November 01, 2023 when TD Cowen began covering the stock and recommended ‘”an Outperform”‘ rating along with a $43 price target.

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