Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Amalgamated Financial Corp shares valued at $2,067,189 were sold by Western States Regional Joint on Nov 04 ’24. At $32.81 per share, Western States Regional Joint sold 63,004 shares. The insider’s holdings dropped to 423,022 shares worth approximately $16.13 million following the completion of this transaction.
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Also, Western States Regional Joint sold 41,259 shares, netting a total of over 1,378,622 in proceeds. Following the sale of shares at $33.41 each, the insider now holds 319,133 shares.
Before that, Western States Regional Joint had sold 25,000 shares from its account. In a trade valued at $827,075, the 10% Owner traded Amalgamated Financial Corp shares for $33.08 each. Upon closing the transaction, the insider’s holdings decreased to 25,000 shares, worth approximately $16.44 million.
As published in a research note from JP Morgan on December 12, 2023, Amalgamated Financial Corp [AMAL] has been rated up from a Neutral to an Overweight and the price target has been revised to $29. Analysts at JP Morgan downgraded the stock from ‘”an Overweight”‘ to ‘”a Neutral”‘ outlook in a report released in late March. As of February 04, 2020, Keefe Bruyette has increased its “Mkt perform” rating to a “an Outperform” for AMAL.
Analyzing AMAL Stock Performance
During the last five days, there has been a surge of approximately 13.75%. Over the course of the year, Amalgamated Financial Corp shares have jumped approximately 41.54%. Shares of the company reached a 52-week high of $38.19 on 11/06/24 and a 52-week low of $21.33 on 04/19/24. A 50-day SMA is recorded $32.32, while a 200-day SMA reached $27.42. Nevertheless, trading volume fell to 0.59 million shares from 0.18 million shares the previous day.
Support And Resistance Levels for Amalgamated Financial Corp (AMAL)
According to the 24-hour chart, there is a support level at 36.67, which, if violated, would cause prices to drop to 35.21. In the upper region, resistance lies at 38.89. The next price resistance is at 39.65. RSI (Relative Strength Index) is 74.54 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.75, which suggests the price will decrease in the coming days. Percent R is at 1.02%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
