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. Arch Capital Group Ltd shares valued at $1,174,170 were sold by Morin Francois on Aug 16 ’24. At $102.46 per share, Morin Francois sold 11,460 shares. The insider’s holdings dropped to 221,779 shares worth approximately $25.02 million following the completion of this transaction.
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Also, Morin Francois purchased 11,460 shares, netting a total of over 1,174,170 in proceeds.
Before that, Gansberg David had sold 10,000 shares from its account. In a trade valued at $966,444, the CEO, GLOBAL MORTGAGE GROUP traded Arch Capital Group Ltd shares for $96.64 each. Upon closing the transaction, the insider’s holdings decreased to 10,000 shares, worth approximately $25.72 million.
As published in a research note from ROTH MKM on August 23, 2024, Arch Capital Group Ltd [ACGL] has been retained to a Buy and the price target has been revised to $125. Analysts at TD Cowen started covering the stock with ‘”an Outperform”‘ outlook in a report released in early January. As of December 14, 2023, Evercore ISI has initiated its “an In-line” rating for ACGL. Earlier on November 22, 2023, Citigroup initiated its rating. Their recommendation was “a Neutral” for ACGL stock.
Analyzing ACGL Stock Performance
During the last five days, there has been a surge of approximately 5.91%. Over the course of the year, Arch Capital Group Ltd shares have jumped approximately 51.89%. Shares of the company reached a 52-week high of $112.97 on 08/29/24 and a 52-week low of $74.28 on 01/02/24. A 50-day SMA is recorded $100.11, while a 200-day SMA reached $91.09. Nevertheless, trading volume fell to 1.34 million shares from 0.99 million shares the previous day.
Support And Resistance Levels for Arch Capital Group Ltd (ACGL)
According to the 24-hour chart, there is a support level at 111.07, which, if violated, would cause prices to drop to 109.33. In the upper region, resistance lies at 113.76. The next price resistance is at 114.71. RSI (Relative Strength Index) is 81.97 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 6.45, which suggests the price will increase in the coming days. Percent R is at 0.99%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
