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. McGrath Rentcorp shares valued at $1,898,972 were purchased by HANNA JOSEPH F on Nov 06 ’24. At $119.88 per share, HANNA JOSEPH F acquired 15,840 shares.
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Also, Box Kimberly Ann sold 1,000 shares, netting a total of over 114,622 in proceeds. Following the sale of shares at $114.62 each, the insider now holds 7,500 shares.
Before that, Skenesky John P had sold 5,000 shares from its account. In a trade valued at $574,287, the VP and Division Manager traded McGrath Rentcorp shares for $114.86 each. Upon closing the transaction, the insider’s holdings decreased to 5,000 shares, worth approximately $1.07 million.
Analysts at Sidoti upgraded the stock from ‘”a Neutral”‘ to ‘”a Buy”‘ outlook in a report released in early February. As of November 16, 2022, Sidoti has decreased its “Buy” rating to a “Neutral” for MGRC. Earlier on August 12, 2020, Oppenheimer upgraded its rating. Their new recommendation was “an Outperform” for MGRC stock which previously was a “a Perform”.
Analyzing MGRC Stock Performance
During the last five days, there has been a surge of approximately 4.49%. Over the course of the year, McGrath Rentcorp shares have jumped approximately 2.45%. Shares of the company reached a 52-week high of $130.86 on 02/12/24 and a 52-week low of $95.50 on 09/18/24. A 50-day SMA is recorded $107.36, while a 200-day SMA reached $111.94. Nevertheless, trading volume fell to 0.57 million shares from 0.19 million shares the previous day.
Support And Resistance Levels for McGrath Rentcorp (MGRC)
According to the 24-hour chart, there is a support level at 119.97, which, if violated, would cause prices to drop to 117.39. In the upper region, resistance lies at 123.96. The next price resistance is at 125.36. RSI (Relative Strength Index) is 71.95 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 5.72, which suggests the price will increase in the coming days. Percent R is at 1.24%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
