Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Wendy’s Co shares valued at $17,180,000 were sold by Peltz Matthew H. on Aug 08 ’24. At $17.18 per share, Peltz Matthew H. sold 1,000,000 shares. The insider’s holdings dropped to 14,943,466 shares worth approximately $298.72 million following the completion of this transaction.
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Also, MAY PETER W sold 1,000,000 shares, netting a total of over 17,180,000 in proceeds. Following the sale of shares at $17.18 each, the insider now holds 14,943,466 shares.
Before that, PELTZ NELSON had sold 1,000,000 shares from its account. In a trade valued at $17,180,000, the Director traded Wendy’s Co shares for $17.18 each. Upon closing the transaction, the insider’s holdings decreased to 1,000,000 shares, worth approximately $298.72 million.
As published in their initiating research note from Goldman on June 13, 2024, Wendy’s Co [WEN] has been a Sell and the price target has been revised to $16. As of February 22, 2024, Bernstein has decreased its “an Outperform” rating to a “Mkt perform” for WEN. Earlier on February 21, 2024, JP Morgan downgraded its rating. Their new recommendation was “a Neutral” for WEN stock which previously was a “an Overweight”.
Analyzing WEN Stock Performance
During the last five days, there has been a surge of approximately 13.64%. Over the course of the year, Wendy’s Co shares have jumped approximately 2.62%. Shares of the company reached a 52-week high of $20.65 on 05/02/24 and a 52-week low of $15.61 on 07/09/24. A 50-day SMA is recorded $17.39, while a 200-day SMA reached $18.00. Nevertheless, trading volume fell to 5.43 million shares from 4.82 million shares the previous day.
Support And Resistance Levels for Wendy’s Co (WEN)
According to the 24-hour chart, there is a support level at 19.65, which, if violated, would cause prices to drop to 19.30. In the upper region, resistance lies at 20.17. The next price resistance is at 20.34. RSI (Relative Strength Index) is 77.35 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.50, which suggests the price will increase in the coming days. Percent R is at 0.37%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
