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. Foot Locker Inc shares valued at $11,144,208 were sold by Vesa Equity Investment S.a r.l on Aug 27 ’24. At $32.99 per share, Vesa Equity Investment S.a r.l sold 337,778 shares. The insider’s holdings dropped to 10,055,814 shares worth approximately $264.87 million following the completion of this transaction.
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Also, Vesa Equity Investment S.a r.l sold 539,180 shares, netting a total of over 17,912,368 in proceeds. Following the sale of shares at $33.22 each, the insider now holds 10,393,592 shares.
Before that, Vesa Equity Investment S.a r.l had sold 213,520 shares from its account. In a trade valued at $7,032,089, the 10% Owner traded Foot Locker Inc shares for $32.93 each. Upon closing the transaction, the insider’s holdings decreased to 213,520 shares, worth approximately $287.97 million.
As published in a research note from Barclays on August 29, 2024, Foot Locker Inc [FL] has been rated up from an Equal weight to an Overweight and the price target has been revised to $34. Analysts at Telsey Advisory Group resumed the stock at ‘”a Market perform”‘ outlook in a report released in late August. Earlier on July 18, 2024, Morgan Stanley downgraded its rating. Their new recommendation was “an Underweight” for FL stock which previously was a “an Equal-weight”.
Analyzing FL Stock Performance
During the last five days, there has been a drop of approximately -8.89%. Over the course of the year, Foot Locker Inc shares have dropped approximately -15.44%. Shares of the company reached a 52-week high of $35.60 on 02/23/24 and a 52-week low of $20.47 on 05/01/24. A 50-day SMA is recorded $28.55, while a 200-day SMA reached $26.97. Nevertheless, trading volume fell to 2.79 million shares from 3.07 million shares the previous day.
Support And Resistance Levels for Foot Locker Inc (FL)
According to the 24-hour chart, there is a support level at 25.88, which, if violated, would cause prices to drop to 25.42. In the upper region, resistance lies at 26.92. The next price resistance is at 27.50. RSI (Relative Strength Index) is 42.55 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.03, which suggests the price will decrease in the coming days. Percent R is at 54.92%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
