Weis Markets (NYSE:WMK) Stock Price Breaks Below 200 Day Moving Average - Time to Sell?

Key Points

• Weis Markets shares briefly fell below their 200-day moving average of $73.70, reaching $73.21 before last trading at $75.2150.
• Weiss Ratings downgraded the company from “buy (b)” to “buy (b-),” while the stock retains an overall “Buy” rating from the one analyst covering it.
• The company reported quarterly earnings of $0.92 per share on $1.28 billion in revenue, and several institutional investors increased or initiated positions during the second quarter.

Weis Markets, Inc. (NYSE:WMK - Get Free Report)'s share price crossed below its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $73.70 and traded as low as $73.21. Weis Markets shares last traded at $75.2150, with a volume of 145,619 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings cut Weis Markets from a "buy (b)" rating to a "buy (b-)" rating in a research note on Monday, August 31st. One investment analyst has rated the stock with a Buy rating. Based on data from MarketBeat.com, the stock has an average rating of "Buy".

Weis Markets Stock Performance

• Waste Management NYSE: WM Turning Trash Into Cash

The stock has a 50-day moving average price of $72.08 and a two-hundred day moving average price of $73.70. The stock has a market capitalization of $1.86 billion, a P/E ratio of 18.66 and a beta of 0.40.

Weis Markets (NYSE:WMK - Get Free Report) last issued its earnings results on Tuesday, August 4th. The company reported $0.92 earnings per share for the quarter. The business had revenue of $1.28 billion during the quarter. Weis Markets had a return on equity of 7.40% and a net margin of 1.99%.

Institutional Inflows and Outflows

• Put Weis Markets NYSE: WMK Stock on Your Shopping List at These Levels

Large investors have recently made changes to their positions in the stock. Engineers Gate Manager LP lifted its holdings in shares of Weis Markets by 375.9% in the 2nd quarter. Engineers Gate Manager LP now owns 16,138 shares of the company's stock valued at $1,264,000 after buying an additional 12,747 shares during the period. Integrated Wealth Concepts LLC acquired a new position in Weis Markets during the second quarter worth $4,006,000. Squarepoint Ops LLC acquired a new stake in Weis Markets during the 2nd quarter worth approximately $1,365,000. Hsbc Holdings PLC grew its holdings in Weis Markets by 41.8% during the 2nd quarter. Hsbc Holdings PLC now owns 17,375 shares of the company's stock worth $1,368,000 after acquiring an additional 5,119 shares in the last quarter. Finally, Empowered Funds LLC purchased a new stake in shares of Weis Markets in the 2nd quarter valued at approximately $8,223,000.

Weis Markets Company Profile

Weis Markets, Inc is a regional food retailer headquartered in Sunbury, Pennsylvania. The company operates supermarkets offering a broad selection of groceries and household products, including fresh produce, meat and seafood, dairy and frozen foods, bakery items, deli products, prepared foods, and beer and wine where permitted by law.

Many Weis Markets locations also provide additional services such as pharmacies, fuel centers, online grocery ordering, and curbside pickup or delivery.

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