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A company insider recently sold 71,981 shares of Warner Music Group Corp [WMG]. Should You Sale?

Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Warner Music Group Corp shares valued at $2,599,954 were sold by Benet Lincoln E on Feb 15 ’24. At $36.12 per share, Benet Lincoln E sold 71,981 shares. The insider’s holdings dropped to 277,360 shares worth approximately $8.18 million following the completion of this transaction.

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Also, Lousada Max sold 869,008 shares, netting a total of over 28,990,107 in proceeds. Following the sale of shares at $33.36 each, the insider now holds 1,883,578 shares.

As published in a research note from Redburn Atlantic on July 10, 2024, Warner Music Group Corp [WMG] has been rated down from a Neutral to a Sell and the price target has been revised to $23 from $21. As of February 05, 2024, Redburn Atlantic has increased its “Sell” rating to a “Neutral” for WMG. Earlier on November 15, 2023, Wells Fargo initiated its rating. Their recommendation was “an Equal weight” for WMG stock.

Analyzing WMG Stock Performance

During the last five days, there has been a drop of approximately -3.59%. Over the course of the year, Warner Music Group Corp shares have dropped approximately -17.55%. Shares of the company reached a 52-week high of $38.05 on 02/08/24 and a 52-week low of $29.07 on 07/10/24. A 50-day SMA is recorded $31.32, while a 200-day SMA reached $33.17. Nevertheless, trading volume fell to 2.84 million shares from 1.32 million shares the previous day.

Support And Resistance Levels for Warner Music Group Corp (WMG)

According to the 24-hour chart, there is a support level at 29.01, which, if violated, would cause prices to drop to 28.51. In the upper region, resistance lies at 30.07. The next price resistance is at 30.63. RSI (Relative Strength Index) is 38.27 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.26, which suggests the price will decrease in the coming days. Percent R is at 76.94%, indicating bearish price movement. Stochastics%K at holding indicates that the stock is to be held.

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