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Analyzing the Insider Data for ICICI Bank Limited (IBN)

Recent insider trends for ICICI Bank Limited (NYSE:IBN) have caught the attention of investors. Patters in insider activity can help analysts formulate an outlook for a stock. In the case of IBN, the data has a lot to say about how the stock might perform going forward.

Institutions own 21.36% of ICICI Bank Limited (IBN)’s shares. The total value of these holdings, in millions, is $6,588. Among active positions in the latest quarter, 161 holders increased their positions by a total of 58.59 million shares, 151 holders decreased the positions by a total of 89.12 million shares, and 23 holders held their positions. This works out to a net decrease in ownership of 30.53 million shares, and suggests that institutions are feeling bearish about the stock.

Among new and sold out positions, 34 holders initiated new positions by a total of 9.45 million shares and 30 holders exited their positions by a total of 24.49 million shares. This nets out to a decrease of 15.04 million shares and is another bearish sign for IBN.

Insider ownership increased by a total of 0 shares, which suggests that IBN’s key executives are feeling more optimistic about the outlook for the stock. The data from the past twelve months tells a similar story:  ownership increased by a net of 0 shares.



Short interest is another tool that analysts use to gauge investor sentiment. It represents the number of a stock’s shares that are being shorted by investors. ICICI Bank Limited (NYSE:IBN)’s short interest is 4.47 million shares, or 0.15% of the float. This represents an increase of 1% in the number of shares being shorted compared to the previous reading, and implies that investors felt more pessimistic about the stock during the past two weeks.

Insider data can help an investor form an outlook on a stock, but it’s important to supplement this data with other information such as technical indicators to form a more complete view. A composite of 13 technical indicators that includes measures such as moving averages and momentum oscillators suggests that IBN is a buy, which implies that IBN is expected to outperform the market based on prior trading patterns.

Conclusion




Institutional ownership trends suggest that the stock is cheap and the insider trading data indicates that insiders are bullish. Technical indicators (also) suggest that ICICI Bank Limited (NYSE:IBN) is undervalued.

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