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. Darden Restaurants, Inc shares valued at $489,895 were sold by Martin Melvin John on Oct 04 ’24. At $163.30 per share, Martin Melvin John sold 3,000 shares. The insider’s holdings dropped to 12,601 shares worth approximately $2.2 million following the completion of this transaction.
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Also, Martin Melvin John purchased 3,000 shares, netting a total of over 489,126 in proceeds.
Before that, Connelly Susan M. had sold 3,320 shares from its account. In a trade valued at $542,576, the SVP, Chief Comm & PA Officer traded Darden Restaurants, Inc shares for $163.43 each. Upon closing the transaction, the insider’s holdings decreased to 3,320 shares, worth approximately $1.08 million.
As published in a research note from Evercore ISI on September 20, 2024, Darden Restaurants, Inc [DRI] has been rated up from an In-line to an Outperform and the price target has been revised to $205 from $165. Analysts at Bernstein downgraded the stock from ‘”an Outperform”‘ to ‘”a Mkt perform”‘ outlook in a report released in mid September. As of July 23, 2024, TD Cowen has decreased its “Buy” rating to a “Hold” for DRI. Earlier on July 11, 2024, Jefferies downgraded its rating. Their new recommendation was “an Underperform” for DRI stock which previously was a “a Hold”.
Analyzing DRI Stock Performance
During the last five days, there has been a surge of approximately 7.62%. Over the course of the year, Darden Restaurants, Inc shares have jumped approximately 6.50%. Shares of the company reached a 52-week high of $177.58 on 11/25/24 and a 52-week low of $135.87 on 07/11/24. A 50-day SMA is recorded $164.66, while a 200-day SMA reached $157.02. Nevertheless, trading volume fell to 0.71 million shares from 1.0 million shares the previous day.
Support And Resistance Levels for Darden Restaurants, Inc (DRI)
According to the 24-hour chart, there is a support level at 173.90, which, if violated, would cause prices to drop to 172.81. In the upper region, resistance lies at 176.49. The next price resistance is at 177.99. RSI (Relative Strength Index) is 64.33 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 6.53, which suggests the price will increase in the coming days. Percent R is at 14.30%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
