Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Silgan Holdings Inc. shares valued at $78,457 were sold by McGrath Stacey J. on Aug 05 ’24. At $49.04 per share, McGrath Stacey J. sold 1,600 shares. The insider’s holdings dropped to 11,495 shares worth approximately $0.58 million following the completion of this transaction.
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Also, McGrath Stacey J. purchased 1,600 shares, netting a total of over 84,304 in proceeds.
Before that, MARTIN JAY A had sold 36,177 shares from its account. In a trade valued at $1,709,964, the Senior Vice President traded Silgan Holdings Inc. shares for $47.27 each. Upon closing the transaction, the insider’s holdings decreased to 36,177 shares, worth approximately $5.48 million.
As published in a research note from JP Morgan on August 01, 2024, Silgan Holdings Inc. [SLGN] has been rated up from an Underweight to a Neutral and the price target has been revised to $53 from $46. Analysts at Citigroup upgraded the stock from ‘”a Neutral”‘ to ‘”a Buy”‘ outlook in a report released in early July. As of January 03, 2024, Citigroup has decreased its “Buy” rating to a “Neutral” for SLGN.
Analyzing SLGN Stock Performance
During the last five days, there has been a drop of approximately -1.99%. Over the course of the year, Silgan Holdings Inc. shares have jumped approximately 12.18%. Shares of the company reached a 52-week high of $52.84 on 08/01/24 and a 52-week low of $41.14 on 07/05/24. A 50-day SMA is recorded $50.44, while a 200-day SMA reached $46.56. Nevertheless, trading volume fell to 0.95 million shares from 0.44 million shares the previous day.
Support And Resistance Levels for Silgan Holdings Inc. (SLGN)
According to the 24-hour chart, there is a support level at 50.40, which, if violated, would cause prices to drop to 50.05. In the upper region, resistance lies at 51.34. The next price resistance is at 51.93. RSI (Relative Strength Index) is 48.39 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.06, which suggests the price will decrease in the coming days. Percent R is at 93.85%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
