Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Macy’s Inc. shares valued at $341,693 were sold by Spring Antony on Jul 11. At $17.36 per share, Spring Antony sold 19,678 shares. The insider’s holdings dropped to 110,575 shares worth approximately $1.95 million following the completion of this transaction.
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Also, Kirgan Danielle L. sold 117,752 shares, netting a total of over 2,044,504 in proceeds. Following the sale of shares at $17.36 each, the insider now holds 198,033 shares.
Before that, Garcia C Elisa D had sold 15,920 shares from its account. In a trade valued at $276,436, the EVP, CLO & Secretary traded Macy’s Inc. shares for $17.36 each. Upon closing the transaction, the insider’s holdings decreased to 15,920 shares, worth approximately $1.51 million.
As published in a research note from Morgan Stanley on May 27, 2022, Macy’s Inc. [M] has been rated up from an Underweight to an Equal-weight and the price target has been revised to $22 from $20. This represents a 19.68% premium over Thursday’s closing price. Analysts at Citigroup upgraded the stock from ‘”a Sell”‘ to ‘”a Neutral”‘ outlook in a report released in late February. As of February 23, 2022, Jefferies has reiterated its “Buy” rating for M. Earlier on February 23, 2022, Gordon Haskett resumed its rating. Their recommendation was “a Buy” for M stock.
Analyzing M’s Price Performance
On Thursday, Macy’s Inc. [NYSE: M] plunged -2.48% to $17.67. The stock’s lowest price that day was $17.615, but it reached a high of $18.025 in the same session. During the last five days, there has been a surge of approximately 1.26%. Over the course of the year, Macy’s Inc. shares have dropped approximately -32.51%. Shares of the company reached a 52-week high of $28.52 on 01/03/22 and a 52-week low of $15.85 on 07/14/22. A 50-day SMA is recorded $19.63, while a 200-day SMA reached $24.41. Nevertheless, trading volume fell to 8.37 million shares from 8.97 million shares the previous day.
Support And Resistance Levels for Macy’s Inc. (M)
According to the 24-hour chart, there is a support level at 17.51, which, if violated, would cause prices to drop to 17.36. In the upper region, resistance lies at 17.92. The next price resistance is at 18.18. RSI (Relative Strength Index) is 46.05 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.14, which suggests the price will decrease in the coming days. Percent R is at 59.76%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Macy’s Inc. subject to short interest?
Stocks of Macy’s Inc. saw a sharp steep in short interest on Jul 14, 2022 dropping by -7.72 million shares to 27.26 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 34.98 million shares. A decline of -28.32% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 1.96 of the overall float, the days-to-cover ratio (short ratio) decline to 1.96.
Which companies own the most shares of Macy’s Inc. (M)?
According to BlackRock Fund Advisors filings, the company currently owns 30,993,456 shares, which is about 11.49% of the total M shares outstanding. The investor’s shares have plunged by -1,059,450 from its previous 13-F filing of 32052906.0 shares. With the completion of the buy transaction, The Vanguard Group, Inc.’s stake is now worth $549,997,691. SSgA Funds Management, Inc. reduced a -2.65% interest valued at $214.32 million while Arrowstreet Capital LP purchased a 2,155,936 stake. A total of -63,042 shares of Macy’s Inc. were bought by Newport Trust Co. during the quarter, and -2,184,518 were sold by Appaloosa LP. In its current portfolio, Dimensional Fund Advisors LP holds 7,717,783 shares valued at $141.39 million.
In terms of Macy’s Inc. share price expectations, FactSet research, analysts set an average price target of $26.24 in the next 12 months, up nearly 54.53% from the previous closing price of $18.12. Analysts anticipate Macy’s Inc. stock to reach $36.00 by 2022, with the lowest price target being $13.00. In spite of this, 17 analysts ranked Macy’s Inc. stock as a Hold at the end of 2022. On February 23, 2022, Deutsche Bank assigned a price target of “a Hold” to the stock and reiterated coverage with a $34.