In a filing, Macerich Co. revealed its Director O HERN THOMAS E unloaded Company’s shares for reported $1.61 million on Mar 20 ’24. In the deal valued at $16.94 per share,95,000 shares were sold. As a result of this transaction, O HERN THOMAS E now holds 102,900 shares worth roughly $1.72 million.
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Then, O HERN THOMAS E sold 7,964 shares, generating $130,530 in total proceeds. Upon selling the shares at $16.39, the Director now owns 0 shares.
Before that, COPPOLA EDWARD C sold 50,000 shares. Macerich Co. shares valued at $860,045 were divested by the President at a price of $17.20 per share. As a result of the transaction, COPPOLA EDWARD C now holds 655,667 shares, worth roughly $10.96 million.
Citigroup upgraded its Macerich Co. [MAC] rating to a Neutral from a a Sell in a research note published on March 22, 2024; the price target was increased to $17 from $8. A number of analysts have revised their coverage, including Piper Sandler’s analysts, who increased its forecast for the stock in early October from “an Underweight” to “a Neutral”.
Price Performance Review of MAC
On Monday, Macerich Co. [NYSE:MAC] saw its stock fall -1.71% to $16.71. Over the last five days, the stock has gained 1.70%. Macerich Co. shares have risen nearly 8.30% since the year began. Nevertheless, the stocks have risen 87.83% over the past one year. While a 52-week high of $17.69 was reached on 02/16/24, a 52-week low of $8.57 was recorded on 01/05/24. SMA at 50 days reached $16.42, while 200 days put it at $13.12. A total of 0.98 million shares were traded, compared to the trading of 2.38 million shares in the previous session.
Levels Of Support And Resistance For MAC Stock
The 24-hour chart illustrates a support level at 16.55, which if violated will result in even more drops to 16.40. On the upside, there is a resistance level at 17.00. A further resistance level may holdings at 17.30. The Relative Strength Index (RSI) on the 14-day chart is 53.32, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.57, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 48.05%. Stochastics %K at 66.15% indicates the stock is a holding.
How much short interest is there in Macerich Co.?
A steep rise in short interest was recorded in Macerich Co. stocks on Feb 29, 2024, dropping by -0.39 million shares to a total of 13.15 million shares. Yahoo Finance data shows the prior-month short interest on Jan 31, 2024 was 13.54 million shares. There was a decline of -2.97%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 8.67% of the overall stock float, the days-to-cover ratio (short ratio) fell to 5.14.
