Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Comcast Corp shares valued at $10,145,821 were sold by COMCAST CORP on May 22 ’24. At $3.19 per share, COMCAST CORP sold 3,176,923 shares. The insider’s holdings dropped to 2,000,000 shares worth approximately $77.36 million following the completion of this transaction.
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Also, Cavanagh Michael J sold 114,749 shares, netting a total of over 5,290,193 in proceeds. Following the sale of shares at $46.10 each, the insider now holds 0 shares.
Before that, Armstrong Jason had sold 41,663 shares from its account. In a trade valued at $1,776,016, the CFO traded Comcast Corp shares for $42.63 each. Upon closing the transaction, the insider’s holdings decreased to 41,663 shares, worth approximately $0.56 million.
As published in a research note from Exane BNP Paribas on April 09, 2024, Comcast Corp [CMCSA] has been rated down from an Outperform to a Neutral and the price target has been revised to $45. Analysts at Redburn Atlantic downgraded the stock from ‘”a Buy”‘ to ‘”a Neutral”‘ outlook in a report released in mid February. As of December 13, 2023, Pivotal Research Group has reiterated its “Buy” rating for CMCSA. Earlier on October 27, 2023, Scotiabank downgraded its rating. Their new recommendation was “a Sector perform” for CMCSA stock which previously was a “a Sector outperform”.
Analyzing CMCSA Stock Performance
During the last five days, there has been a drop of approximately -1.75%. Over the course of the year, Comcast Corp shares have dropped approximately -11.79%. Shares of the company reached a 52-week high of $47.11 on 02/01/24 and a 52-week low of $36.43 on 04/26/24. A 50-day SMA is recorded $40.28, while a 200-day SMA reached $42.80. Nevertheless, trading volume fell to 16.08 million shares from 17.76 million shares the previous day.
Support And Resistance Levels for Comcast Corp (CMCSA)
According to the 24-hour chart, there is a support level at 38.41, which, if violated, would cause prices to drop to 38.13. In the upper region, resistance lies at 39.05. The next price resistance is at 39.41. RSI (Relative Strength Index) is 41.59 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.16, which suggests the price will decrease in the coming days. Percent R is at 79.74%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
