Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. McDonald’s Corp shares valued at $285,740 were sold by Erlinger Joseph M. on Jul 23 ’24. At $260.00 per share, Erlinger Joseph M. sold 1,099 shares. The insider’s holdings dropped to 13,681 shares worth approximately $3.71 million following the completion of this transaction.
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Also, Gross Marion K. sold 1,498 shares, netting a total of over 371,893 in proceeds. Following the sale of shares at $248.26 each, the insider now holds 1,560 shares.
Before that, Erlinger Joseph M. had sold 1,098 shares from its account. In a trade valued at $285,480, the President, McDonald’s USA traded McDonald’s Corp shares for $260.00 each. Upon closing the transaction, the insider’s holdings decreased to 1,098 shares, worth approximately $4.01 million.
As published in a research note from TD Cowen on July 31, 2024, McDonald’s Corp [MCD] has been rated down from a Buy to a Hold and the price target has been revised to $280 from $285. Analysts at JP Morgan resumed the stock at ‘”an Overweight”‘ outlook in a report released in early July. As of July 02, 2024, Guggenheim has reiterated its “Buy” rating for MCD. Earlier on June 13, 2024, Goldman initiated its rating. Their recommendation was “a Neutral” for MCD stock.
Analyzing MCD Stock Performance
During the last five days, there has been a surge of approximately 0.66%. Over the course of the year, McDonald’s Corp shares have dropped approximately -8.55%. Shares of the company reached a 52-week high of $302.39 on 01/22/24 and a 52-week low of $243.53 on 07/09/24. A 50-day SMA is recorded $258.42, while a 200-day SMA reached $275.46. Nevertheless, trading volume fell to 2.24 million shares from 2.6 million shares the previous day.
Support And Resistance Levels for McDonald’s Corp (MCD)
According to the 24-hour chart, there is a support level at 269.26, which, if violated, would cause prices to drop to 267.38. In the upper region, resistance lies at 272.27. The next price resistance is at 273.39. RSI (Relative Strength Index) is 59.96 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 2.55, which suggests the price will increase in the coming days. Percent R is at 24.31%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
