Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Darden Restaurants, Inc. shares valued at $735,011 were sold by Broad Matthew R on Apr 25 ’24. At $156.15 per share, Broad Matthew R sold 4,707 shares. The insider’s holdings dropped to 19,179 shares worth approximately $2.92 million following the completion of this transaction.
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Also, Simon William S sold 1,219 shares, netting a total of over 192,858 in proceeds. Following the sale of shares at $158.21 each, the insider now holds 6,281 shares.
Before that, Martin Melvin John had sold 3,100 shares from its account. In a trade valued at $519,622, the President, SRG traded Darden Restaurants, Inc. shares for $167.62 each. Upon closing the transaction, the insider’s holdings decreased to 3,100 shares, worth approximately $2.15 million.
As published in a research note from BTIG Research on May 17, 2024, Darden Restaurants, Inc. [DRI] has been rated up from a Neutral to a Buy and the price target has been revised to $175. As of October 19, 2023, Deutsche Bank has initiated its “Buy” rating for DRI. Earlier on July 18, 2023, Piper Sandler initiated its rating. Their recommendation was “a Neutral” for DRI stock.
Analyzing DRI Stock Performance
During the last five days, there has been a drop of approximately -1.41%. Over the course of the year, Darden Restaurants, Inc. shares have dropped approximately -7.41%. Shares of the company reached a 52-week high of $176.84 on 03/04/24 and a 52-week low of $145.31 on 06/13/24. A 50-day SMA is recorded $150.77, while a 200-day SMA reached $155.74. Nevertheless, trading volume fell to 1.09 million shares from 0.96 million shares the previous day.
Support And Resistance Levels for Darden Restaurants, Inc. (DRI)
According to the 24-hour chart, there is a support level at 150.68, which, if violated, would cause prices to drop to 149.25. In the upper region, resistance lies at 153.33. The next price resistance is at 154.55. RSI (Relative Strength Index) is 52.95 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.67, which suggests the price will increase in the coming days. Percent R is at 46.34%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
