Tanger Inc.’s recently made public that its SVP, CAO Guerrieri Thomas Joseph JR unloaded Company’s shares for reported $87810.0 on Mar 12 ’24. In the deal valued at $29.27 per share,3,000 shares were sold. As a result of this transaction, Guerrieri Thomas Joseph JR now holds 63,782 shares worth roughly $1.76 million.
Then, REDDIN THOMAS sold 5,000 shares, generating $145,000 in total proceeds. Upon selling the shares at $29.00, the Director now owns 46,602 shares.
Before that, TANGER STEVEN B sold 150,000 shares. Tanger Inc. shares valued at $3,937,500 were divested by the Executive Chair of the Board at a price of $26.25 per share. As a result of the transaction, TANGER STEVEN B now holds 901,983 shares, worth roughly $24.93 million.
BofA Securities upgraded its Tanger Inc. [SKT] rating to a Neutral from a an Underperform in a research note published on April 05, 2024; the price target was increased to $31 from $24. A number of analysts have revised their coverage, including Citigroup’s analysts, who increased its forecast for the stock in late March from “a Neutral” to “a Buy”. JP Morgan also remained covering SKT and has increased its forecast on December 18, 2023 with a “an Overweight” recommendation from previously “Neutral” rating. Compass Point revised its rating on November 08, 2023. It rated SKT as “a Neutral” which previously was an “a Buy”.
Price Performance Review of SKT
On Friday, Tanger Inc. [NYSE:SKT] saw its stock jump 0.62% to $27.64. Over the last five days, the stock has lost -6.40%. Tanger Inc. shares have fallen nearly -0.29% since the year began. Nevertheless, the stocks have risen 41.74% over the past one year. While a 52-week high of $29.98 was reached on 03/04/24, a 52-week low of $18.00 was recorded on 02/05/24. SMA at 50 days reached $28.25, while 200 days put it at $25.28. A total of 0.7 million shares were traded, compared to the trading of 0.9 million shares in the previous session.
Levels Of Support And Resistance For SKT Stock
The 24-hour chart illustrates a support level at 27.48, which if violated will result in even more drops to 27.32. On the upside, there is a resistance level at 27.92. A further resistance level may holdings at 28.20. The Relative Strength Index (RSI) on the 14-day chart is 39.14, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.91, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 86.75%. Stochastics %K at 11.39% indicates the stock is a buying.
How much short interest is there in Tanger Inc.?
A steep rise in short interest was recorded in Tanger Inc. stocks on Mar 15, 2024, growing by 0.2 million shares to a total of 4.17 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 3.97 million shares. There was a rise of 4.8%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 5.70% of the overall stock float, the days-to-cover ratio (short ratio) rose to 4.55.
