Macy’s Inc’s filing revealed that its Director Gennette Jeffrey unloaded Company’s shares for reported $0.59 million on Apr 01 ’24. In the deal valued at $19.66 per share,30,090 shares were sold. As a result of this transaction, Gennette Jeffrey now holds 1,073,699 shares worth roughly $19.95 million.
Then, Spring Antony sold 14,859 shares, generating $291,743 in total proceeds. Upon selling the shares at $19.63, the CEO & Chair-Elect now owns 248,897 shares.
Before that, Mitchell Adrian V sold 13,279 shares. Macy’s Inc shares valued at $260,716 were divested by the EVP, COO & CFO at a price of $19.63 per share. As a result of the transaction, Mitchell Adrian V now holds 120,457 shares, worth roughly $2.24 million.
TD Cowen downgraded its Macy’s Inc [M] rating to a Market perform from a an Outperform in a research note published on February 29, 2024; the price target was decreased to $20 from $23. A number of analysts have revised their coverage, including Telsey Advisory Group’s analysts, who remained covering the stock and in late February has reiterated a ‘”a Market perform”‘ rating for it. Citigroup also remained covering M and has increased its forecast on February 02, 2024 with a “Neutral” recommendation from previously “Sell” rating. Citigroup revised its rating on December 12, 2023. It rated M as “a Sell” which previously was an “a Neutral”.
Price Performance Review of M
On Friday, Macy’s Inc [NYSE:M] saw its stock jump 0.92% to $18.58. Over the last five days, the stock has lost -7.05%. Macy’s Inc shares have fallen nearly -7.65% since the year began. Nevertheless, the stocks have fallen -1.80% over the past one year. While a 52-week high of $22.10 was reached on 03/19/24, a 52-week low of $10.54 was recorded on 02/29/24. SMA at 50 days reached $19.53, while 200 days put it at $15.96. A total of 5.57 million shares were traded, compared to the trading of 7.21 million shares in the previous session.
Levels Of Support And Resistance For M Stock
The 24-hour chart illustrates a support level at 18.39, which if violated will result in even more drops to 18.21. On the upside, there is a resistance level at 18.68. A further resistance level may holdings at 18.79. The Relative Strength Index (RSI) on the 14-day chart is 39.99, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -1.24, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 92.39%. Stochastics %K at 4.19% indicates the stock is a buying.
How much short interest is there in Macy’s Inc?
A steep rise in short interest was recorded in Macy’s Inc stocks on Mar 15, 2024, growing by 1.43 million shares to a total of 18.59 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 17.16 million shares. There was a rise of 7.69%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 7.64% of the overall stock float, the days-to-cover ratio (short ratio) rose to 1.83.
The most recent change occurred on November 07, 2023 when Evercore ISI began covering the stock and recommended ‘”an In-line”‘ rating along with a $13 price target.
