American Tower Corporation [AMT] Director makes an insider sale of 150 shares worth 37,941.

Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. American Tower Corporation shares valued at $37,941 were sold by HORMATS ROBERT D on Sep 01. At $252.94 per share, HORMATS ROBERT D sold 150 shares. The insider’s holdings dropped to 6,421 shares worth approximately $1.49 million following the completion of this transaction.


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Also, HORMATS ROBERT D sold 150 shares, netting a total of over 38,180 in proceeds. Following the sale of shares at $254.53 each, the insider now holds 6,571 shares.

Before that, HORMATS ROBERT D had sold 200 shares from its account. In a trade valued at $47,080, the Director traded American Tower Corporation shares for $235.40 each. Upon closing the transaction, the insider’s holdings decreased to 200 shares, worth approximately $1.56 million.

Analysts at JP Morgan upgraded the stock from ‘”an Underweight”‘ to ‘”an Overweight”‘ outlook in a report released in late June. Earlier on January 11, 2022, Goldman downgraded its rating. Their new recommendation was “a Neutral” for AMT stock which previously was a “a Buy”.

Analyzing AMT’s Price Performance

On Thursday, American Tower Corporation [NYSE: AMT] plunged -0.59% to $232.78. The stock’s lowest price that day was $232.21, but it reached a high of $236.46 in the same session. During the last five days, there has been a drop of approximately -5.01%. Over the course of the year, American Tower Corporation shares have dropped approximately -20.42%. Shares of the company reached a 52-week high of $292.55 on 01/03/22 and a 52-week low of $220.00 on 02/24/22. A 50-day SMA is recorded $261.38, while a 200-day SMA reached $254.25. Nevertheless, trading volume fell to 1.44 million shares from 1.94 million shares the previous day.

Support And Resistance Levels for American Tower Corporation (AMT)

According to the 24-hour chart, there is a support level at 231.17, which, if violated, would cause prices to drop to 229.57. In the upper region, resistance lies at 235.42. The next price resistance is at 238.07. RSI (Relative Strength Index) is 28.57 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -15.24, which suggests the price will decrease in the coming days. Percent R is at 98.29%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

Is American Tower Corporation subject to short interest?

Stocks of American Tower Corporation saw a sharp steep in short interest on Aug 30, 2022 dropping by -0.37 million shares to 3.34 million. Data from Yahoo Finance shows that the short interest on Jul 28, 2022 was 3.71 million shares. A decline of -11.08% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 2.53 of the overall float, the days-to-cover ratio (short ratio) decline to 2.53.

Which companies own the most shares of American Tower Corporation (AMT)?

According to The Vanguard Group, Inc. filings, the company currently owns 58,210,627 shares, which is about 12.50% of the total AMT shares outstanding. The investor’s shares have appreciated by 271,415 from its previous 13-F filing of 57939212.0 shares. With the completion of the buy transaction, BlackRock Fund Advisors’s stake is now worth $5,796,373,298. SSgA Funds Management, Inc. acquire a 0.46% interest valued at $5.42 billion while Cohen & Steers Capital Management sold a -2,611,526 stake. A total of 998,562 shares of American Tower Corporation were sold by Wellington Management Co. LLP during the quarter, and 1,323,278 were bought by Geode Capital Management LLC. In its current portfolio, Akre Capital Management LLC holds 6,973,187 shares valued at $1.77 billion.

In terms of American Tower Corporation share price expectations, FactSet research, analysts set an average price target of $297.06 in the next 12 months, up nearly 28.12% from the previous closing price of $234.15. Analysts anticipate American Tower Corporation stock to reach $347.00 by 2022, with the lowest price target being $250.00. In spite of this, 21 analysts ranked American Tower Corporation stock as an Overweight at the end of 2022. On January 05, 2022, JP Morgan assigned a price target of “an Underweight” to the stock and downgraded coverage with a $271.

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