Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Mid-America Apartment Communities, Inc. shares valued at $512,641 were sold by BOLTON H ERIC JR on Apr 03 ’24. At $126.86 per share, BOLTON H ERIC JR sold 4,041 shares. The insider’s holdings dropped to 322,094 shares worth approximately $40.85 million following the completion of this transaction.
Also, Carpenter Melanie sold 567 shares, netting a total of over 71,930 in proceeds. Following the sale of shares at $126.86 each, the insider now holds 20,949 shares.
Before that, Argo Timothy had sold 97 shares from its account. In a trade valued at $12,305, the EVP, Chief Strategy & Analysis traded Mid-America Apartment Communities, Inc. shares for $126.86 each. Upon closing the transaction, the insider’s holdings decreased to 97 shares, worth approximately $1.99 million.
Analysts at Deutsche Bank started covering the stock with ‘”a Hold”‘ outlook in a report released in late January. As of January 16, 2024, Truist has increased its “Hold” rating to a “Buy” for MAA. Earlier on January 16, 2024, Scotiabank upgraded its rating. Their new recommendation was “a Sector perform” for MAA stock which previously was a “a Sector underperform”.
Analyzing MAA Stock Performance
During the last five days, there has been a drop of approximately -3.04%. Over the course of the year, Mid-America Apartment Communities, Inc. shares have dropped approximately -5.67%. Shares of the company reached a 52-week high of $137.34 on 01/22/24 and a 52-week low of $121.51 on 02/13/24. A 50-day SMA is recorded $128.71, while a 200-day SMA reached $134.54. Nevertheless, trading volume fell to 0.64 million shares from 0.76 million shares the previous day.
Support And Resistance Levels for Mid-America Apartment Communities, Inc. (MAA)
According to the 24-hour chart, there is a support level at 125.51, which, if violated, would cause prices to drop to 124.20. In the upper region, resistance lies at 129.18. The next price resistance is at 131.54. RSI (Relative Strength Index) is 42.31 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -2.30, which suggests the price will decrease in the coming days. Percent R is at 93.29%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is Mid-America Apartment Communities, Inc. subject to short interest?
Stocks of Mid-America Apartment Communities, Inc. saw a sharp steep in short interest on Mar 15, 2024 dropping by -0.65 million shares to 2.39 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 3.04 million shares. A decline of -27.2% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 3.12 of the overall float, the days-to-cover ratio (short ratio) decline to 3.12.
