Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Patrick Industries, Inc shares valued at $2,627,408 were sold by Rodino Jeff on Sep 12 ’24. At $131.37 per share, Rodino Jeff sold 20,000 shares. The insider’s holdings dropped to 139,109 shares worth approximately $18.11 million following the completion of this transaction.
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Also, Cleveland Todd M sold 7,500 shares, netting a total of over 982,884 in proceeds. Following the sale of shares at $131.05 each, the insider now holds 82,374 shares.
Before that, Cleveland Todd M had sold 2,500 shares from its account. In a trade valued at $338,698, the Director traded Patrick Industries, Inc shares for $135.48 each. Upon closing the transaction, the insider’s holdings decreased to 2,500 shares, worth approximately $10.4 million.
As published in their initiating research note from Raymond James on October 01, 2024, Patrick Industries, Inc [PATK] has been an Outperform and the price target has been revised to $160. Analysts at The Benchmark Company started covering the stock with ‘”a Buy”‘ outlook in a report released in late August. As of December 07, 2023, BMO Capital Markets has initiated its “an Outperform” rating for PATK. Earlier on April 19, 2023, KeyBanc Capital Markets initiated its rating. Their recommendation was “an Overweight” for PATK stock.
Analyzing PATK Stock Performance
During the last five days, there has been a drop of approximately -2.85%. Over the course of the year, Patrick Industries, Inc shares have jumped approximately 29.73%. Shares of the company reached a 52-week high of $148.35 on 10/04/24 and a 52-week low of $91.01 on 01/17/24. A 50-day SMA is recorded $136.07, while a 200-day SMA reached $118.90. Nevertheless, trading volume fell to 0.6 million shares from 0.39 million shares the previous day.
Support And Resistance Levels for Patrick Industries, Inc (PATK)
According to the 24-hour chart, there is a support level at 126.85, which, if violated, would cause prices to drop to 123.51. In the upper region, resistance lies at 133.23. The next price resistance is at 136.28. RSI (Relative Strength Index) is 46.55 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -10.02, which suggests the price will decrease in the coming days. Percent R is at 51.70%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
