The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. MSC Industrial Direct Co., Inc. shares valued at $2,433,295 were sold by JACOBSON MITCHELL on Jan 31 ’24. At $99.31 per share, JACOBSON MITCHELL sold 24,501 shares. The insider’s holdings dropped to 1,683,810 shares worth approximately $131.35 million following the completion of this transaction.
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Also, JACOBSON MITCHELL sold 137,716 shares, netting a total of over 13,448,876 in proceeds. Following the sale of shares at $97.66 each, the insider now holds 1,708,311 shares.
Before that, JACOBSON MITCHELL had sold 18,746 shares from its account. In a trade valued at $1,830,159, the Director traded MSC Industrial Direct Co., Inc. shares for $97.63 each. Upon closing the transaction, the insider’s holdings decreased to 18,746 shares, worth approximately $144.01 million.
As published in a research note from Loop Capital on June 17, 2024, MSC Industrial Direct Co., Inc. [MSM] has been rated down from a Buy to a Hold and the price target has been revised to $80. Analysts at KeyBanc Capital Markets downgraded the stock from ‘”an Overweight”‘ to ‘”a Sector weight”‘ outlook in a report released in mid June. As of May 29, 2024, Robert W. Baird has decreased its “an Outperform” rating to a “Neutral” for MSM. Earlier on October 09, 2023, Loop Capital upgraded its rating. Their new recommendation was “a Buy” for MSM stock which previously was a “a Hold”.
Analyzing MSM Stock Performance
During the last five days, there has been a drop of approximately -1.05%. Over the course of the year, MSC Industrial Direct Co., Inc. shares have dropped approximately -22.96%. Shares of the company reached a 52-week high of $104.76 on 03/04/24 and a 52-week low of $75.05 on 06/17/24. A 50-day SMA is recorded $87.76, while a 200-day SMA reached $95.38. Nevertheless, trading volume fell to 0.57 million shares from 0.46 million shares the previous day.
Support And Resistance Levels for MSC Industrial Direct Co., Inc. (MSM)
According to the 24-hour chart, there is a support level at 77.51, which, if violated, would cause prices to drop to 77.01. In the upper region, resistance lies at 78.94. The next price resistance is at 79.88. RSI (Relative Strength Index) is 32.99 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -2.02, which suggests the price will decrease in the coming days. Percent R is at 74.22%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
