The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. The Marcus Corporation shares valued at $48,324 were sold by OLSON BRUCE J on Dec 28. At $14.00 per share, OLSON BRUCE J sold 3,451 shares. The insider’s holdings dropped to 1,618 shares worth approximately $24803.94 following the completion of this transaction.
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Also, KISSINGER THOMAS F sold 12,500 shares, netting a total of over 221,358 in proceeds. Following the sale of shares at $17.71 each, the insider now holds 95,848 shares.
As published in a research note from B. Riley Securities on January 03, 2023, The Marcus Corporation [MCS] has been retained to a Buy and the price target has been revised to $24. This represents a 36.12% premium over Thursday’s closing price. Analysts at B. Riley Securities resumed the stock at ‘”a Buy”‘ outlook in a report released in early December. As of October 12, 2022, B. Riley Securities has reiterated its “Buy” rating for MCS. Earlier on November 24, 2021, JP Morgan initiated its rating. Their recommendation was “a Neutral” for MCS stock.
Analyzing MCS Stock Performance
On Thursday, The Marcus Corporation [NYSE: MCS] plunged -4.07% to $15.33. The stock’s lowest price that day was $15.175, but it reached a high of $15.92 in the same session. During the last five days, there has been a drop of approximately -4.66%. Over the course of the year, The Marcus Corporation shares have jumped approximately 6.53%. Shares of the company reached a 52-week high of $16.46 on 02/22/23 and a 52-week low of $14.15 on 01/05/23. A 50-day SMA is recorded $15.10, while a 200-day SMA reached $15.42. Nevertheless, trading volume fell to 0.58 million shares from 0.46 million shares the previous day.
Support And Resistance Levels for The Marcus Corporation (MCS)
According to the 24-hour chart, there is a support level at 15.03, which, if violated, would cause prices to drop to 14.73. In the upper region, resistance lies at 15.77. The next price resistance is at 16.22. RSI (Relative Strength Index) is 45.47 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.06, which suggests the price will decrease in the coming days. Percent R is at 81.29%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is The Marcus Corporation subject to short interest?
Stocks of The Marcus Corporation saw a sharp rise in short interest on Jan 12, 2023 jumping by 0.29 million shares to 3.4 million. Data from Yahoo Finance shows that the short interest on Dec 14, 2022 was 3.11 million shares. A jump of 8.53% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 12.54 of the overall float, the days-to-cover ratio (short ratio) jumped to 12.54.
Which companies own the most shares of The Marcus Corporation (MCS)?
According to BlackRock Fund Advisors filings, the company currently owns 3,868,209 shares, which is about 15.86% of the total MCS shares outstanding. The investor’s shares have appreciated by 212,536 from its previous 13-F filing of 3655673.0 shares. With the completion of the buy transaction, The Vanguard Group, Inc.’s stake is now worth $25,855,032. Dimensional Fund Advisors LP acquire a 8.57% interest valued at $25.3 million while Corre Partners Management LLC 0 stake. In its current portfolio, SSgA Funds Management, Inc. holds 875,539 shares valued at $13.26 million.