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. Old Dominion Freight Line, Inc. shares valued at $1,400,490 were sold by Gantt Greg C on Oct 28 ’24. At $200.07 per share, Gantt Greg C sold 7,000 shares. The insider’s holdings dropped to 97,890 shares worth approximately $19.95 million following the completion of this transaction.
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Also, Gantt Greg C purchased 7,000 shares, netting a total of over 1,384,530 in proceeds.
Before that, CONGDON DAVID S had sold 10,000 shares from its account. In a trade valued at $1,951,700, the Executive Chairman traded Old Dominion Freight Line, Inc. shares for $195.17 each. Upon closing the transaction, the insider’s holdings decreased to 10,000 shares, worth approximately $283.64 million.
As published in a research note from Stifel on October 21, 2024, Old Dominion Freight Line, Inc. [ODFL] has been rated down from a Buy to a Hold and the price target has been revised to $197 from $209. Analysts at BMO Capital Markets downgraded the stock from ‘”an Outperform”‘ to ‘”a Market perform”‘ outlook in a report released in mid October. As of October 09, 2024, Citigroup has initiated its “Neutral” rating for ODFL. Earlier on September 06, 2024, TD Cowen resumed its rating. Their recommendation was “a Hold” for ODFL stock.
Analyzing ODFL Stock Performance
During the last five days, there has been a surge of approximately 8.03%. Over the course of the year, Old Dominion Freight Line, Inc. shares have jumped approximately 0.57%. Shares of the company reached a 52-week high of $227.80 on 04/08/24 and a 52-week low of $165.49 on 06/06/24. A 50-day SMA is recorded $195.82, while a 200-day SMA reached $197.20. Nevertheless, trading volume fell to 1.42 million shares from 1.73 million shares the previous day.
Support And Resistance Levels for Old Dominion Freight Line, Inc. (ODFL)
According to the 24-hour chart, there is a support level at 200.61, which, if violated, would cause prices to drop to 197.39. In the upper region, resistance lies at 207.93. The next price resistance is at 212.03. RSI (Relative Strength Index) is 58.27 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 2.72, which suggests the price will increase in the coming days. Percent R is at 22.02%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
