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. Chipotle Mexican Grill shares valued at $951,161 were sold by Garner Curtis E on Aug 06 ’24. At $54.68 per share, Garner Curtis E sold 17,394 shares. The insider’s holdings dropped to 358,300 shares worth approximately $18.51 million following the completion of this transaction.
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Also, CURTIS E. GARNER purchased 17,394 shares, netting a total of over 951,160 in proceeds.
Before that, Garner Curtis E had sold 60,239 shares from its account. In a trade valued at $3,069,563, the Chief Customer & Techlgy Ofcr traded Chipotle Mexican Grill shares for $50.96 each. Upon closing the transaction, the insider’s holdings decreased to 60,239 shares, worth approximately $18.51 million.
As published in a research note from Wedbush on August 14, 2024, Chipotle Mexican Grill [CMG] has been rated up from a Neutral to an Outperform and the price target has been revised to $58 from $54. Analysts at Evercore ISI resumed the stock at ‘”an Outperform”‘ outlook in a report released in mid July. As of June 13, 2024, Goldman has initiated its “Buy” rating for CMG. Earlier on May 29, 2024, Truist resumed its rating. Their recommendation was “a Buy” for CMG stock.
Analyzing CMG Stock Performance
During the last five days, there has been a drop of approximately -3.69%. Over the course of the year, Chipotle Mexican Grill shares have jumped approximately 12.92%. Shares of the company reached a 52-week high of $69.26 on 06/18/24 and a 52-week low of $44.08 on 01/08/24. A 50-day SMA is recorded $58.45, while a 200-day SMA reached $53.62. Nevertheless, trading volume fell to 32.35 million shares from 108.99 million shares the previous day.
Support And Resistance Levels for Chipotle Mexican Grill (CMG)
According to the 24-hour chart, there is a support level at 50.98, which, if violated, would cause prices to drop to 50.30. In the upper region, resistance lies at 52.43. The next price resistance is at 53.20. RSI (Relative Strength Index) is 39.28 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.02, which suggests the price will decrease in the coming days. Percent R is at 56.10%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
