CIT Group Inc (DEL) (CIT) : Fridays money flow points at investors jumping to buy the stock on the weakness of price. $4.37 million worth of transactions were on upticks, whereas, the downticks accounted for $2.95 million worth of transactions. The net money flow was a positive $1.42 million and the uptick to downtick ratio was 1.48. The net money flow into the stock was $2 million. The lack of interest in trading on downticks shows that the investors dont want to sell their holdings. The upticks accounted for $2 million of the total block trades, indicating continued buying interest on weakness, which bodes well for the future of the stock. CIT Group Inc (DEL) (CIT) was trading at $34.75, down $0.06 during day. The stock slid -0.17% over the previous days close. For the week, the stock recorded -0.37% over the previous weeks close.
CIT Group Inc (DEL) (CIT) : 11 investment research analysts covering CIT Group Inc (DEL) (CIT) have an average price target of $43.46 for the near short term. The highest target price given by the Brokerage Firm to the stock is $65 and the lowest target is $33 for the short term. Analysts expect the variance to be within $9.73 of the average price.
CIT Group Inc (DEL) (NYSE:CIT): stock turned positive on Friday. Though the stock opened at $34.87, the bulls momentum made the stock top out at $35.06 level for the day. The stock recorded a low of $34.66 and closed the trading day at $35.03, in the green by 0.63%. The total traded volume for the day was 1,252,551. The stock had closed at $34.81 in the previous days trading.
In a related news, Mnuchin Steven T, director officer (Vice Chairman) of Cit Group Inc, had purchased 80,000 shares on February 11, 2016. The total value of the transaction was $2,051,200. The information was disclosed with the SEC in a Form 4 Filing. The information is based on open market trades at the market prices.Option exercises are not covered.
CIT Group Inc. is a bank holding company (BHC), which provides financing, leasing and advisory services principally to middle market companies. The Company operates in two segments: Transportation and International Finance (TIF), provider of leasing and financing solutions to operators and suppliers in the global aviation and railcar industries, and North American Commercial Finance (NACF)., which consists of four divisions: Commercial Services, Corporate Finance, Equipment Finance and Real Estate Finance. Commercial Services provides factoring, receivable management products, and secured financing to businesses. Corporate Finance provides a range of financing options and offers advisory services to small and medium size companies. Equipment Finance provides leasing and equipment loan solutions to small businesses and middle market companies. Real Estate Finance provides senior secured commercial real estate loans to developers and other commercial real estate professionals.