Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Global Net Lease Inc shares valued at $840,000 were purchased by SCHORSCH NICHOLAS S on Oct 02 ’24. At $8.40 per share, SCHORSCH NICHOLAS S acquired 100,000 shares. The insider’s holdings grew to 1,729,073 shares worth approximately $13.94 million following the completion of this transaction.
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Also, SCHORSCH NICHOLAS S sold 200,000 shares, netting a total of over 1,430,000 in proceeds. Following the sale of shares at $7.15 each, the insider now holds 1,629,073 shares.
Before that, SCHORSCH NICHOLAS S had sold 150,000 shares from its account. In a trade valued at $1,078,500, the 10% Owner traded Global Net Lease Inc shares for $7.19 each. Upon closing the transaction, the insider’s holdings decreased to 150,000 shares, worth approximately $16.76 million.
As published in their initiating research note from Truist on March 28, 2024, Global Net Lease Inc [GNL] has been a Hold and the price target has been revised to $7. Analysts at BTIG Research downgraded the stock from ‘”a Buy”‘ to ‘”a Neutral”‘ outlook in a report released in early March. As of February 13, 2024, BMO Capital Markets has initiated its “an Outperform” rating for GNL. Earlier on March 16, 2023, Exane BNP Paribas initiated its rating. Their recommendation was “an Underperform” for GNL stock.
Analyzing GNL Stock Performance
During the last five days, there has been a drop of approximately -3.93%. Over the course of the year, Global Net Lease Inc shares have dropped approximately -18.99%. Shares of the company reached a 52-week high of $10.15 on 01/02/24 and a 52-week low of $6.52 on 04/16/24. A 50-day SMA is recorded $8.51, while a 200-day SMA reached $7.93. Nevertheless, trading volume fell to 1.05 million shares from 0.83 million shares the previous day.
Support And Resistance Levels for Global Net Lease Inc (GNL)
According to the 24-hour chart, there is a support level at 8.02, which, if violated, would cause prices to drop to 7.98. In the upper region, resistance lies at 8.14. The next price resistance is at 8.21. RSI (Relative Strength Index) is 36.83 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.24, which suggests the price will decrease in the coming days. Percent R is at 95.59%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
