Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Brookfield Corporation shares valued at $49,593,750 were sold by OCM Growth Holdings LLC on May 14 ’24. At $11.50 per share, OCM Growth Holdings LLC sold 4,312,500 shares. The insider’s holdings dropped to 11,179,668 shares worth approximately $494.14 million following the completion of this transaction.
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Also, Oaktree Capital Group Holdings sold 7,131 shares, netting a total of over 155,099 in proceeds. Following the sale of shares at $21.75 each, the insider now holds 0 shares.
Before that, OCM Growth Holdings LLC had sold 1,000,000 shares from its account. In a trade valued at $11,330,000, the Director traded Brookfield Corporation shares for $11.33 each. Upon closing the transaction, the insider’s holdings decreased to 1,000,000 shares, worth approximately $684.75 million.
As published in a research note from Canaccord Genuity on August 11, 2023, Brookfield Corporation [BN] has been rated down from a Buy to a Hold. Analysts at Keefe Bruyette downgraded the stock from ‘”an Outperform”‘ to ‘”a Mkt perform”‘ outlook in a report released in mid May. As of March 20, 2023, Credit Suisse has increased its “Neutral” rating to a “an Outperform” for BN. Earlier on February 06, 2023, Credit Suisse downgraded its rating. Their new recommendation was “a Neutral” for BN stock which previously was a “an Outperform”.
Analyzing BN Stock Performance
During the last five days, there has been a drop of approximately -0.99%. Over the course of the year, Brookfield Corporation shares have jumped approximately 10.17%. Shares of the company reached a 52-week high of $45.11 on 05/15/24 and a 52-week low of $37.77 on 01/03/24. A 50-day SMA is recorded $41.64, while a 200-day SMA reached $37.41.
Support And Resistance Levels for Brookfield Corporation (BN)
According to the 24-hour chart, there is a support level at 43.74, which, if violated, would cause prices to drop to 43.29. In the upper region, resistance lies at 44.75. The next price resistance is at 45.31. RSI (Relative Strength Index) is 62.26 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.06, which suggests the price will decrease in the coming days. Percent R is at 38.08%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
