Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. CareTrust REIT Inc shares valued at $1,043,000 were sold by Wagner William M on Sep 04 ’24. At $29.80 per share, Wagner William M sold 35,000 shares. The insider’s holdings dropped to 257,439 shares worth approximately $7.9 million following the completion of this transaction.
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Also, Wagner William M purchased 35,000 shares, netting a total of over 1,044,400 in proceeds.
As published in their initiating research note from Wedbush on May 29, 2024, CareTrust REIT Inc [CTRE] has been a Neutral and the price target has been revised to $26. Analysts at Deutsche Bank started covering the stock with ‘”a Hold”‘ outlook in a report released in late January. As of September 20, 2023, Jefferies has initiated its “Buy” rating for CTRE. Earlier on September 12, 2023, RBC Capital Mkts upgraded its rating. Their new recommendation was “an Outperform” for CTRE stock which previously was a “a Sector perform”.
Analyzing CTRE Stock Performance
During the last five days, there has been a surge of approximately 2.54%. Over the course of the year, CareTrust REIT Inc shares have jumped approximately 37.13%. Shares of the company reached a 52-week high of $30.74 on 09/12/24 and a 52-week low of $20.10 on 02/05/24. A 50-day SMA is recorded $27.83, while a 200-day SMA reached $24.62. Nevertheless, trading volume fell to 1.2 million shares from 1.6 million shares the previous day.
Support And Resistance Levels for CareTrust REIT Inc (CTRE)
According to the 24-hour chart, there is a support level at 30.29, which, if violated, would cause prices to drop to 29.90. In the upper region, resistance lies at 30.91. The next price resistance is at 31.14. RSI (Relative Strength Index) is 78.72 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.54, which suggests the price will decrease in the coming days. Percent R is at 2.63%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
