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MKM Partners gives a Buy recommendation for LKQ Corp (LKQ)

LKQ Corp’s recently made public that its SVP – General Counsel McKay Matthew J acquired Company’s shares for reported $99375.0 on Jul 29 ’24. In the deal valued at $39.75 per share,2,500 shares were bought. As a result of this transaction, McKay Matthew J now holds 94,670 shares worth roughly $ 3.78 million.

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Then, Galloway Rick bought 2,500 shares, generating $99,700 in total proceeds. Upon buying the shares at $39.88, the SVP and CFO now owns 58,126 shares.

Before that, Jude Justin L bought 2,500 shares. LKQ Corp shares valued at $99,764 were divested by the President and CEO at a price of $39.91 per share. As a result of the transaction, Jude Justin L now holds 207,515 shares, worth roughly $8.3 million.

MKM Partners initiated its LKQ Corp [LKQ] rating to a Buy in a research note published on July 13, 2022; the price target was $68. A number of analysts have revised their coverage, including Barrington Research’s analysts, who increased its forecast for the stock in late April from “a Mkt perform” to “an Outperform”. Barrington Research also remained covering LKQ and has decreased its forecast on February 17, 2022 with a “Mkt perform” recommendation from previously “an Outperform” rating. Raymond James revised its rating on August 02, 2021. It rated LKQ as “an Outperform” which previously was an “a Mkt perform”.

Price Performance Review of LKQ

On Monday, LKQ Corp [NASDAQ:LKQ] saw its stock unchanged to $39.98. Over the last five days, the stock has lost -3.87%. LKQ Corp shares have fallen nearly -16.34% since the year began. Nevertheless, the stocks have fallen -20.74% over the past one year. While a 52-week high of $53.68 was reached on 03/28/24, a 52-week low of $35.57 was recorded on 07/25/24. SMA at 50 days reached $41.55, while 200 days put it at $45.63.

Levels Of Support And Resistance For LKQ Stock

The 24-hour chart illustrates a support level at 39.73, which if violated will result in even more drops to 39.48. On the upside, there is a resistance level at 40.36. A further resistance level may holdings at 40.74. The Relative Strength Index (RSI) on the 14-day chart is 40.50, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -1.27, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 96.37%. Stochastics %K at 11.08% indicates the stock is a buying.

How much short interest is there in LKQ Corp?

A steep rise in short interest was recorded in LKQ Corp stocks on 2024-08-15, growing by 0.92 million shares to a total of 5.23 million shares. Yahoo Finance data shows the prior-month short interest on 2024-07-15 was 4.31 million shares. There was a rise of 17.65%, which implies that there is a positive sentiment for the stock.

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