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. Moelis & Co shares valued at $34,299 were sold by Shropshire Kenneth on Jul 31 ’24. At $69.29 per share, Shropshire Kenneth sold 495 shares. The insider’s holdings dropped to 9,372 shares worth approximately $0.63 million following the completion of this transaction.
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Also, Pilcher Ciafone Katherine sold 3,666 shares, netting a total of over 252,514 in proceeds. Following the sale of shares at $68.88 each, the insider now holds 0 shares.
Before that, MOELIS KENNETH had sold 93,506 shares from its account. In a trade valued at $6,439,758, the Chairman, CEO traded Moelis & Co shares for $68.87 each. Upon closing the transaction, the insider’s holdings decreased to 93,506 shares, worth approximately $0.43 million.
As published in their initiating research note from Wells Fargo on September 12, 2024, Moelis & Co [MC] has been an Equal weight and the price target has been revised to $70. Analysts at Goldman upgraded the stock from ‘”a Sell”‘ to ‘”a Neutral”‘ outlook in a report released in mid March. Earlier on January 11, 2023, Goldman downgraded its rating. Their new recommendation was “a Sell” for MC stock which previously was a “a Neutral”.
Analyzing MC Stock Performance
During the last five days, there has been a drop of approximately -6.87%. Over the course of the year, Moelis & Co shares have jumped approximately 19.29%. Shares of the company reached a 52-week high of $72.80 on 10/17/24 and a 52-week low of $46.24 on 04/25/24. A 50-day SMA is recorded $67.46, while a 200-day SMA reached $58.88. Nevertheless, trading volume fell to 0.84 million shares from 0.4 million shares the previous day.
Support And Resistance Levels for Moelis & Co (MC)
According to the 24-hour chart, there is a support level at 65.79, which, if violated, would cause prices to drop to 64.63. In the upper region, resistance lies at 68.64. The next price resistance is at 70.33. RSI (Relative Strength Index) is 43.29 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.65, which suggests the price will decrease in the coming days. Percent R is at 83.43%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
