The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Marriott International, Inc. shares valued at $351,666 were sold by HIPPEAU ERIC on Mar 13 ’24. At $251.19 per share, HIPPEAU ERIC sold 1,400 shares. The insider’s holdings dropped to 72 shares worth approximately $18313.2 following the completion of this transaction.
Also, Marriott David S sold 2,878 shares, netting a total of over 716,449 in proceeds. Following the sale of shares at $248.94 each, the insider now holds 596,042 shares.
Before that, Anand Satyajit had sold 2,749 shares from its account. In a trade valued at $692,556, the President, EMEA traded Marriott International, Inc. shares for $251.93 each. Upon closing the transaction, the insider’s holdings decreased to 2,749 shares, worth approximately $6.23 million.
As published in their initiating research note from Mizuho on March 26, 2024, Marriott International, Inc. [MAR] has been a Neutral and the price target has been revised to $263. As of October 23, 2023, HSBC Securities has initiated its “Buy” rating for MAR. Earlier on August 14, 2023, Bernstein downgraded its rating. Their new recommendation was “a Mkt perform” for MAR stock which previously was a “an Outperform”.
Analyzing MAR Stock Performance
During the last five days, there has been a surge of approximately 1.50%. Over the course of the year, Marriott International, Inc. shares have jumped approximately 12.79%. Shares of the company reached a 52-week high of $256.53 on 03/22/24 and a 52-week low of $218.01 on 01/03/24. A 50-day SMA is recorded $248.25, while a 200-day SMA reached $214.84. Nevertheless, trading volume fell to 1.32 million shares from 1.15 million shares the previous day.
Support And Resistance Levels for Marriott International, Inc. (MAR)
According to the 24-hour chart, there is a support level at 252.01, which, if violated, would cause prices to drop to 249.67. In the upper region, resistance lies at 255.94. The next price resistance is at 257.53. RSI (Relative Strength Index) is 57.64 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 2.01, which suggests the price will increase in the coming days. Percent R is at 21.82%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
Is Marriott International, Inc. subject to short interest?
Stocks of Marriott International, Inc. saw a sharp rise in short interest on Mar 28, 2024 jumping by 0.16 million shares to 5.61 million. Data from Yahoo Finance shows that the short interest on Feb 29, 2024 was 5.45 million shares. A jump of 2.85% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 3.92 of the overall float, the days-to-cover ratio (short ratio) jumped to 3.92.
