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. Suburban Propane Partners LP shares valued at $116,434 were sold by Brinkworth Douglas on Dec 05 ’24. At $19.50 per share, Brinkworth Douglas sold 5,971 shares. The insider’s holdings dropped to 161,355 shares worth approximately $2.88 million following the completion of this transaction.
Also, Brinkworth Douglas purchased 7,500 shares, netting a total of over 145,800 in proceeds.
Before that, Schueler Michael A had sold 5,335 shares from its account. In a trade valued at $103,041, the Vice President-Product Supply traded Suburban Propane Partners LP shares for $19.31 each. Upon closing the transaction, the insider’s holdings decreased to 5,335 shares, worth approximately $0.34 million.
As published in a research note from Wells Fargo on August 30, 2024, Suburban Propane Partners LP [SPH] has been rated down from an Equal weight to an Underweight and the price target has been revised to $17. Analysts at Mizuho downgraded the stock from ‘”a Neutral”‘ to ‘”an Underperform”‘ outlook in a report released in late January. As of April 26, 2023, Mizuho has initiated its “Neutral” rating for SPH. Earlier on March 26, 2021, Argus upgraded its rating. Their new recommendation was “a Buy” for SPH stock which previously was a “a Hold”.
Analyzing SPH Stock Performance
During the last five days, there has been a surge of approximately 3.90%. Over the course of the year, Suburban Propane Partners LP shares have jumped approximately 3.90%. Shares of the company reached a 52-week high of $18.09 on 01/06/25 and a 52-week low of $17.19 on 01/02/25. A 50-day SMA is recorded $18.34, while a 200-day SMA reached $18.71. Nevertheless, trading volume fell to 0.11 million shares from 86200.0 shares the previous day.
Support And Resistance Levels for Suburban Propane Partners LP (SPH)
According to the 24-hour chart, there is a support level at 17.55, which, if violated, would cause prices to drop to 17.23. In the upper region, resistance lies at 18.04. The next price resistance is at 18.21. RSI (Relative Strength Index) is 48.93 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 29.10%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
