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. Old Dominion Freight Line, Inc shares valued at $1,621,402 were purchased by CONGDON EARL E on Nov 19 ’24. At $213.99 per share, CONGDON EARL E acquired 7,577 shares.
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Also, SUGGS LEO H sold 3,000 shares, netting a total of over 676,320 in proceeds. Following the sale of shares at $225.44 each, the insider now holds 7,383 shares.
Before that, CONGDON DAVID S had sold 60,000 shares from its account. In a trade valued at $13,578,000, the Executive Chairman traded Old Dominion Freight Line, Inc shares for $226.30 each. Upon closing the transaction, the insider’s holdings decreased to 60,000 shares, worth approximately $239.79 million.
As published in a research note from Argus on November 12, 2024, Old Dominion Freight Line, Inc [ODFL] has been rated down from a Buy to a Hold. Analysts at Stifel downgraded the stock from ‘”a Buy”‘ to ‘”a Hold”‘ outlook in a report released in late October. As of October 18, 2024, BMO Capital Markets has decreased its “an Outperform” rating to a “Market perform” for ODFL. Earlier on October 09, 2024, Citigroup initiated its rating. Their recommendation was “a Neutral” for ODFL stock.
Analyzing ODFL Stock Performance
During the last five days, there has been a drop of approximately -5.39%. Over the course of the year, Old Dominion Freight Line, Inc shares have dropped approximately -10.47%. Shares of the company reached a 52-week high of $233.26 on 11/11/24 and a 52-week low of $165.49 on 06/06/24. A 50-day SMA is recorded $207.21, while a 200-day SMA reached $197.13. Nevertheless, trading volume fell to 0.76 million shares from 0.58 million shares the previous day.
Support And Resistance Levels for Old Dominion Freight Line, Inc (ODFL)
According to the 24-hour chart, there is a support level at 179.63, which, if violated, would cause prices to drop to 177.83. In the upper region, resistance lies at 183.04. The next price resistance is at 184.64. RSI (Relative Strength Index) is 24.79 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -13.41, which suggests the price will decrease in the coming days. Percent R is at 82.45%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
