The Potential Rise in the Price of American Tower Corporation (AMT) following insiders activity


In a filing, American Tower Corporation revealed its Director DOLAN RAYMOND P unloaded Company’s shares for reported $1.95 million on Feb 27. In the deal valued at $195.00 per share,10,025 shares were sold. As a result of this transaction, DOLAN RAYMOND P now holds 17,473 shares worth roughly $ 3.43 million.

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Then, THOMPSON SAMME L sold 1,739 shares, generating $380,128 in total proceeds. Upon selling the shares at $218.59, the Director now owns 22,099 shares.

Before that, Goel Sanjay bought 5 shares. American Tower Corporation shares valued at $1,163 were divested by the EVP & President, Asia-Pacific at a price of $232.56 per share. As a result of the transaction, Goel Sanjay now holds 9,592 shares, worth roughly $1.88 million.

KeyBanc Capital Markets downgraded its American Tower Corporation [AMT] rating to a Sector weight from a an Overweight in a research note published on Monday. A number of analysts have revised their coverage, including Deutsche Bank’s analysts, who increased its forecast for the stock in mid January from “a Hold” to “a Buy”. Goldman also remained covering AMT and has increased its forecast on January 10, 2023 with a “Buy” recommendation from previously “Neutral” rating.

Price Performance Review of AMT

On Monday, American Tower Corporation [NYSE:AMT] saw its stock jump 2.65% to $196.33. On the same session, the stock had its day’s lowest price of $189.55, but rose to a high of $200.99. Over the last five days, the stock has lost -1.13%. American Tower Corporation shares have fallen nearly -7.33% since the year began. Nevertheless, the stocks have fallen -15.67% over the past one year. While a 52-week high of $282.47 was reached on 01/17/23, a 52-week low of $178.17 was recorded on 03/13/23. SMA at 50 days reached $213.07, while 200 days put it at $230.66. A total of 2.33 million shares were traded, compared to the trading of 2.36 million shares in the previous session.

Levels Of Support And Resistance For AMT Stock

The 24-hour chart illustrates a support level at 190.26, which if violated will result in even more drops to 184.18. On the upside, there is a resistance level at 201.70. A further resistance level may holdings at 207.06. The Relative Strength Index (RSI) on the 14-day chart is 41.82, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -3.53, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 56.43%. Stochastics %K at 16.85% indicates the stock is a buying.

How much short interest is there in American Tower Corporation?

A steep rise in short interest was recorded in American Tower Corporation stocks on Jan 12, 2023, dropping by -0.14 million shares to a total of 3.43 million shares. Yahoo Finance data shows the prior-month short interest on Dec 14, 2022 was 3.57 million shares. There was a decline of -4.08%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 0.85% of the overall stock float, the days-to-cover ratio (short ratio) fell to 1.91.

American Tower Corporation [AMT] – Who Are The Largest Shareholders?

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 59,266,005 shares, or roughly 12.73% of the outstanding AMT shares. In other words, the investor’s shares have risen by 663,866 from its previous 13-F filing of 58602139.0. Additionally, BlackRock Fund Advisors increased 0.42% of its stake after which the total value it holdings stand at $4,536,561,172, while SSgA Funds Management, Inc. added 0.19% of its stake to hold $4.22 billion in the firm. Over the last quarter, Wellington Management Co. LLP purchased 1,320,263 shares of American Tower Corporation, while Cohen & Steers Capital Management bought -3,417,066 shares. At present, Geode Capital Management LLC is holding 9,601,881 shares valued at $1.9 billion. Akre Capital Management LLC owned 6,993,427 shares of the company at the time of its most recent 13F filing, worth $1.38 billion.

According to FactSet, American Tower Corporation’s share price will average $244.67 in the next year, based on opinions of analysts polled by the firm. This is up nearly 27.57 percent from its previous closing price of $191.27. Analysts expect American Tower Corporation stock to reach the higher price of $271.00, while the lowest price estimate is $224.00. However, 20 analysts have rated AMT stock as an Overweight in their predictions for 2023.


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