A company insider recently sold 57,214 shares of Macy’s Inc [M]. Should You Sale?

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. Macy’s Inc shares valued at $837,172 were sold by Mitchell Adrian V on Nov 24. At $14.63 per share, Mitchell Adrian V sold 57,214 shares. The insider’s holdings dropped to 78,386 shares worth approximately $1.43 million following the completion of this transaction.

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Also, Griscom Paul sold 1,212 shares, netting a total of over 14,817 in proceeds. Following the sale of shares at $12.22 each, the insider now holds 14,727 shares.

Before that, Kirgan Danielle L. had sold 25,000 shares from its account. In a trade valued at $416,460, the EVP, Chief Transformation & HR traded Macy’s Inc shares for $16.66 each. Upon closing the transaction, the insider’s holdings decreased to 25,000 shares, worth approximately $5.09 million.

As published in a research note from Citigroup on December 12, 2023, Macy’s Inc [M] has been rated down from a Neutral to a Sell and the price target has been revised to $14.

Analyzing M Stock Performance

During the last five days, there has been a surge of approximately 0.83%. Over the course of the year, Macy’s Inc shares have dropped approximately -9.10%. Shares of the company reached a 52-week high of $20.20 on 01/02/24 and a 52-week low of $17.14 on 01/19/24. A 50-day SMA is recorded $18.14, while a 200-day SMA reached $15.06. Nevertheless, trading volume fell to 4.9 million shares from 5.59 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 18.10, which, if violated, would cause prices to drop to 17.92. In the upper region, resistance lies at 18.63. The next price resistance is at 18.97. RSI (Relative Strength Index) is 48.25 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.20, which suggests the price will decrease in the coming days. Percent R is at 41.22%, 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 Jan 11, 2024 dropping by -5.41 million shares to 23.38 million. Data from Yahoo Finance shows that the short interest on Dec 14, 2023 was 28.79 million shares. A decline of -23.14% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 2.57 of the overall float, the days-to-cover ratio (short ratio) decline to 2.57.

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