Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Aramark shares valued at $415,208 were sold by Harrington Lauren A on Mar 05 ’24. At $31.02 per share, Harrington Lauren A sold 13,384 shares. The insider’s holdings dropped to 95,284 shares worth approximately $3.55 million following the completion of this transaction.
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Also, Harrington Lauren A sold 4,274 shares, netting a total of over 116,819 in proceeds. Following the sale of shares at $27.33 each, the insider now holds 95,142 shares.
Before that, Bruno Marc A had sold 27,884 shares from its account. In a trade valued at $743,666, the COO, U.S. Food & Facilities traded Aramark shares for $26.67 each. Upon closing the transaction, the insider’s holdings decreased to 27,884 shares, worth approximately $8.41 million.
As published in a research note from RBC Capital Mkts on September 17, 2024, Aramark [ARMK] has been rated up from a Sector perform to an Outperform and the price target has been revised to $42.50 from $36. Analysts at Deutsche Bank upgraded the stock from ‘”a Hold”‘ to ‘”a Buy”‘ outlook in a report released in early August. As of January 17, 2024, Goldman has initiated its “Buy” rating for ARMK. Earlier on January 08, 2024, Truist initiated its rating. Their recommendation was “a Buy” for ARMK stock.
Analyzing ARMK Stock Performance
During the last five days, there has been a drop of approximately -2.15%. Over the course of the year, Aramark shares have jumped approximately 32.60%. Shares of the company reached a 52-week high of $38.99 on 09/17/24 and a 52-week low of $27.47 on 01/03/24. A 50-day SMA is recorded $35.58, while a 200-day SMA reached $32.19. Nevertheless, trading volume fell to 2.58 million shares from 3.48 million shares the previous day.
Support And Resistance Levels for Aramark (ARMK)
According to the 24-hour chart, there is a support level at 37.00, which, if violated, would cause prices to drop to 36.75. In the upper region, resistance lies at 37.71. The next price resistance is at 38.17. RSI (Relative Strength Index) is 52.97 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.67, which suggests the price will decrease in the coming days. Percent R is at 70.29%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
