Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. MSC Industrial Direct Co., Inc. shares valued at $413,251 were sold by Shacklett Kimberly on Jul 17 ’24. At $84.60 per share, Shacklett Kimberly sold 4,885 shares. The insider’s holdings dropped to 12,897 shares worth approximately $1.08 million following the completion of this transaction.
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Also, JACOBSON MITCHELL sold 24,501 shares, netting a total of over 2,433,295 in proceeds. Following the sale of shares at $99.31 each, the insider now holds 1,683,810 shares.
Before that, JACOBSON MITCHELL had sold 137,716 shares from its account. In a trade valued at $13,448,876, the Director traded MSC Industrial Direct Co., Inc. shares for $97.66 each. Upon closing the transaction, the insider’s holdings decreased to 137,716 shares, worth approximately $142.66 million.
As published in a research note from Loop Capital on June 17, 2024, MSC Industrial Direct Co., Inc. [MSM] has been rated down from a Buy to a Hold and the price target has been revised to $80. Analysts at KeyBanc Capital Markets downgraded the stock from ‘”an Overweight”‘ to ‘”a Sector weight”‘ outlook in a report released in mid June. As of May 29, 2024, Robert W. Baird has decreased its “an Outperform” rating to a “Neutral” for MSM. Earlier on October 09, 2023, Loop Capital upgraded its rating. Their new recommendation was “a Buy” for MSM stock which previously was a “a Hold”.
Analyzing MSM Stock Performance
During the last five days, there has been a drop of approximately -3.19%. Over the course of the year, MSC Industrial Direct Co., Inc. shares have dropped approximately -17.53%. Shares of the company reached a 52-week high of $104.76 on 03/04/24 and a 52-week low of $75.05 on 06/17/24. A 50-day SMA is recorded $82.38, while a 200-day SMA reached $89.90. Nevertheless, trading volume fell to 0.64 million shares from 0.44 million shares the previous day.
Support And Resistance Levels for MSC Industrial Direct Co., Inc. (MSM)
According to the 24-hour chart, there is a support level at 82.79, which, if violated, would cause prices to drop to 82.07. In the upper region, resistance lies at 84.26. The next price resistance is at 85.01. RSI (Relative Strength Index) is 51.25 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.20, which suggests the price will decrease in the coming days. Percent R is at 59.63%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
