Vestis Corp’s filing revealed that its Director Pertz Douglas A acquired Company’s shares for reported $0.26 million on May 28 ’24. In the deal valued at $11.62 per share,22,442 shares were bought. As a result of this transaction, Pertz Douglas A now holds 218,046 shares worth roughly $2.64 million.
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Then, Corvex Management LP bought 100,000 shares, generating $1,202,000 in total proceeds. Upon buying the shares at $12.02, the 10% Owner now owns 17,007,877 shares.
Before that, Pertz Douglas A bought 54,468 shares. Vestis Corp shares valued at $653,055 were divested by the Director at a price of $11.99 per share. As a result of the transaction, Pertz Douglas A now holds 195,604 shares, worth roughly $2.37 million.
William Blair initiated its Vestis Corp [VSTS] rating to a Mkt perform in a research note published recently. A number of analysts have revised their coverage, including Redburn Atlantic’s analysts, who decreased its forecast for the stock in early May from “a Buy” to “a Neutral”. Stifel also remained covering VSTS and has decreased its forecast on May 03, 2024 with a “Hold” recommendation from previously “Buy” rating. JP Morgan revised its rating on May 03, 2024. It rated VSTS as “a Neutral” which previously was an “an Overweight”.
Price Performance Review of VSTS
On Monday, Vestis Corp [NYSE:VSTS] saw its stock fall -3.66% to $12.11. Over the last five days, the stock has lost -4.65%. Vestis Corp shares have fallen nearly -42.72% since the year began. SMA at 50 days reached $12.17, while 200 days put it at $16.59. A total of 1.04 million shares were traded, compared to the trading of 1.04 million shares in the previous session.
Levels Of Support And Resistance For VSTS Stock
The 24-hour chart illustrates a support level at 11.77, which if violated will result in even more drops to 11.43. On the upside, there is a resistance level at 12.36. A further resistance level may holdings at 12.62. The Relative Strength Index (RSI) on the 14-day chart is 44.84, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.03, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 71.90%. Stochastics%K at 57.47% indicates the stock is a holding.
