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. Palomar Holdings Inc shares valued at $758,912 were sold by Armstrong Mac on Nov 21 ’24. At $108.42 per share, Armstrong Mac sold 7,000 shares. The insider’s holdings dropped to 426,388 shares worth approximately $46.24 million following the completion of this transaction.
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Also, Uchida T Christopher sold 4,496 shares, netting a total of over 484,668 in proceeds. Following the sale of shares at $107.80 each, the insider now holds 18,054 shares.
Before that, Uchida T Christopher had sold 1,030 shares from its account. In a trade valued at $110,395, the Chief Financial Officer traded Palomar Holdings Inc shares for $107.18 each. Upon closing the transaction, the insider’s holdings decreased to 1,030 shares, worth approximately $1.85 million.
As published in a research note from JP Morgan on April 08, 2024, Palomar Holdings Inc [PLMR] has been rated down from an Overweight to a Neutral and the price target has been revised to $85 from $79. Analysts at Jefferies upgraded the stock from ‘”a Hold”‘ to ‘”a Buy”‘ outlook in a report released in mid March. As of May 16, 2023, Keefe Bruyette has increased its “Mkt perform” rating to a “an Outperform” for PLMR. Earlier on January 10, 2023, Evercore ISI downgraded its rating. Their new recommendation was “an In-line” for PLMR stock which previously was a “an Outperform”.
Analyzing PLMR Stock Performance
During the last five days, there has been a surge of approximately 0.05%. Over the course of the year, Palomar Holdings Inc shares have jumped approximately 95.39%. Shares of the company reached a 52-week high of $111.27 on 11/27/24 and a 52-week low of $54.50 on 01/02/24. A 50-day SMA is recorded $97.93, while a 200-day SMA reached $87.77. Nevertheless, trading volume fell to 0.13 million shares from 0.24 million shares the previous day.
Support And Resistance Levels for Palomar Holdings Inc (PLMR)
According to the 24-hour chart, there is a support level at 107.46, which, if violated, would cause prices to drop to 106.47. In the upper region, resistance lies at 110.35. The next price resistance is at 112.25. RSI (Relative Strength Index) is 67.81 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 3.14, which suggests the price will increase in the coming days. Percent R is at 17.65%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
