Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Merchants Bancorp shares valued at $105,867 were purchased by Dury Michael R. on Nov 21 ’24. At $39.21 per share, Dury Michael R. acquired 2,700 shares. The insider’s holdings grew to 96,493 shares worth approximately $3.43 million following the completion of this transaction.
Also, O’Brien Patrick D. purchased 40,000 shares, netting a total of over 1,000,000 in proceeds. Following the buying of shares at $25.00 each, the insider now holds 40,000 shares.
Before that, O’Brien Patrick D. had added 40,000 shares to its account. In a trade valued at $1,000,000, the Director bought Merchants Bancorp shares for $25.00 each. Upon closing the transaction, the insider’s holdings increased to 40,000 shares, worth approximately $1.42 million.
As published in their initiating research note from Morgan Stanley on September 09, 2024, Merchants Bancorp [MBIN] has been an Equal-weight and the price target has been revised to $54. Analysts at Raymond James downgraded the stock from ‘”a Strong buy”‘ to ‘”an Outperform”‘ outlook in a report released in late July. As of June 17, 2020, Raymond James has increased its “an Outperform” rating to a “Strong buy” for MBIN.
Analyzing MBIN Stock Performance
During the last five days, there has been a drop of approximately -2.66%. Over the course of the year, Merchants Bancorp shares have dropped approximately -2.66%. Shares of the company reached a 52-week high of $37.12 on 01/02/25 and a 52-week low of $35.24 on 01/08/25. A 50-day SMA is recorded $38.53, while a 200-day SMA reached $41.80. Nevertheless, trading volume fell to 0.16 million shares from 0.14 million shares the previous day.
Support And Resistance Levels for Merchants Bancorp (MBIN)
According to the 24-hour chart, there is a support level at 35.22, which, if violated, would cause prices to drop to 34.94. In the upper region, resistance lies at 35.80. The next price resistance is at 36.09. RSI (Relative Strength Index) is 34.61 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.38, which suggests the price will decrease in the coming days. Percent R is at 89.94%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
