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. Warner Music Group Corp shares valued at $12,519,033 were purchased by MAX GEORGE LOUSADA on Dec 11 ’24. At $32.48 per share, MAX GEORGE LOUSADA acquired 385,475 shares.
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Also, MAX GEORGE LOUSADA purchased 458,534 shares, netting a total of over 14,772,315 in proceeds.
Before that, MAX GEORGE LOUSADA had added 25,000 shares to its account. In a trade valued at $808,750, the Affiliate bought Warner Music Group Corp shares for $32.35 each.
As published in a research note from BofA Securities on October 04, 2024, Warner Music Group Corp [WMG] has been rated down from a Neutral to an Underperform and the price target has been revised to $30 from $33. Analysts at Wolfe Research started covering the stock with ‘”an Outperform”‘ outlook in a report released in mid July. Earlier on July 10, 2024, Redburn Atlantic downgraded its rating. Their new recommendation was “a Sell” for WMG stock which previously was a “a Neutral”.
Analyzing WMG Stock Performance
During the last five days, there has been a drop of approximately -4.05%. Over the course of the year, Warner Music Group Corp shares have dropped approximately -12.63%. Shares of the company reached a 52-week high of $38.05 on 02/08/24 and a 52-week low of $27.06 on 08/05/24. A 50-day SMA is recorded $32.21, while a 200-day SMA reached $31.41. Nevertheless, trading volume fell to 2.42 million shares from 1.16 million shares the previous day.
Support And Resistance Levels for Warner Music Group Corp (WMG)
According to the 24-hour chart, there is a support level at 30.72, which, if violated, would cause prices to drop to 30.17. In the upper region, resistance lies at 32.03. The next price resistance is at 32.79. RSI (Relative Strength Index) is 40.74 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.27, which suggests the price will decrease in the coming days. Percent R is at 86.12%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
