Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Mohawk Industries, Inc. shares valued at $201,132 were sold by HELEN SUZANNE L on Jun 14 ’24. At $111.74 per share, HELEN SUZANNE L sold 1,800 shares. The insider’s holdings dropped to 122,369 shares worth approximately $13.07 million following the completion of this transaction.
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Also, Patton Rodney David sold 2,267 shares, netting a total of over 284,129 in proceeds. Following the sale of shares at $125.33 each, the insider now holds 13,054 shares.
Before that, Patton Rodney David had sold 1,551 shares from its account. In a trade valued at $185,352, the VP BUSINESS STRATEGY traded Mohawk Industries, Inc. shares for $119.51 each. Upon closing the transaction, the insider’s holdings decreased to 1,551 shares, worth approximately $1.64 million.
As published in a research note from Raymond James on June 10, 2024, Mohawk Industries, Inc. [MHK] has been rated up from a Mkt perform to a Strong buy and the price target has been revised to $140. Analysts at Deutsche Bank upgraded the stock from ‘”a Hold”‘ to ‘”a Buy”‘ outlook in a report released in mid February. As of January 12, 2024, RBC Capital Mkts has increased its “an Underperform” rating to a “Sector perform” for MHK. Earlier on December 13, 2023, Barclays upgraded its rating. Their new recommendation was “an Equal weight” for MHK stock which previously was a “an Underweight”.
Analyzing MHK Stock Performance
During the last five days, there has been a drop of approximately -4.21%. Over the course of the year, Mohawk Industries, Inc. shares have jumped approximately 3.20%. Shares of the company reached a 52-week high of $131.19 on 03/28/24 and a 52-week low of $96.28 on 01/24/24. A 50-day SMA is recorded $115.40, while a 200-day SMA reached $104.09. Nevertheless, trading volume fell to 1.21 million shares from 1.06 million shares the previous day.
Support And Resistance Levels for Mohawk Industries, Inc. (MHK)
According to the 24-hour chart, there is a support level at 105.69, which, if violated, would cause prices to drop to 104.57. In the upper region, resistance lies at 108.23. The next price resistance is at 109.65. RSI (Relative Strength Index) is 35.31 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -3.99, which suggests the price will decrease in the coming days. Percent R is at 86.62%, indicating bearish price movement. Stochastics%K at buying indicates that the stock is to be held.
