American Tower Corp.’s recent filing unveils that its SVP, Pres. & CEO, CoreSite Font Juan unloaded Company’s shares for reported $0.11 million on Mar 15 ’24. In the deal valued at $197.49 per share,540 shares were sold. As a result of this transaction, Font Juan now holds 19,265 shares worth roughly $3.71 million.
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Then, Smith Rodney M sold 11,510 shares, generating $2,367,767 in total proceeds. Upon selling the shares at $205.71, the EVP, CFO & Treasurer now owns 62,969 shares.
Before that, Vondran Steven O sold 3,265 shares. American Tower Corp. shares valued at $654,382 were divested by the President and CEO at a price of $200.42 per share. As a result of the transaction, Vondran Steven O now holds 58,372 shares, worth roughly $11.25 million.
HSBC Securities initiated its American Tower Corp. [AMT] rating to a Buy in a research note published on December 14, 2023; the price target was $245. A number of analysts have revised their coverage, including Scotiabank’s analysts, who began to cover the stock in mid October with a ‘”a Sector outperform”‘ rating. BMO Capital Markets began covering AMT with “an Outperform” recommendation on July 13, 2023. MoffettNathanson revised its rating on March 30, 2023. It rated AMT as “an Outperform” which previously was an “a Market perform”.
Price Performance Review of AMT
On Friday, American Tower Corp. [NYSE:AMT] saw its stock fall -0.59% to $192.79. Over the last five days, the stock has lost -2.31%. American Tower Corp. shares have fallen nearly -10.70% since the year began. Nevertheless, the stocks have risen 0.35% over the past one year. While a 52-week high of $219.10 was reached on 01/02/24, a 52-week low of $154.58 was recorded on 02/27/24. SMA at 50 days reached $197.31, while 200 days put it at $190.06. A total of 2.58 million shares were traded, compared to the trading of 2.66 million shares in the previous session.
Levels Of Support And Resistance For AMT Stock
The 24-hour chart illustrates a support level at 191.31, which if violated will result in even more drops to 189.84. On the upside, there is a resistance level at 194.50. A further resistance level may holdings at 196.22. The Relative Strength Index (RSI) on the 14-day chart is 39.76, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -6.73, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 93.13%. Stochastics %K at 4.60% indicates the stock is a buying.
How much short interest is there in American Tower Corp.?
A steep rise in short interest was recorded in American Tower Corp. stocks on Feb 29, 2024, dropping by -0.15 million shares to a total of 5.12 million shares. Yahoo Finance data shows the prior-month short interest on Jan 31, 2024 was 5.27 million shares. There was a decline of -2.93%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 1.27% of the overall stock float, the days-to-cover ratio (short ratio) fell to 1.99.
