Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Simon Property Group, Inc. shares valued at $67,535 were purchased by LEIBOWITZ REUBEN S on Apr 01 ’24. At $154.19 per share, LEIBOWITZ REUBEN S acquired 438 shares. The insider’s holdings grew to 53,116 shares worth approximately $7.73 million following the completion of this transaction.
Also, HUBBARD ALLAN B purchased 357 shares, netting a total of over 55,046 in proceeds. Following the buying of shares at $154.19 each, the insider now holds 32,222 shares.
Before that, GLASSCOCK LARRY C had added 321 shares to its account. In a trade valued at $49,495, the Director bought Simon Property Group, Inc. shares for $154.19 each. Upon closing the transaction, the insider’s holdings increased to 321 shares, worth approximately $5.61 million.
As published in a research note from Morgan Stanley on December 21, 2023, Simon Property Group, Inc. [SPG] has been rated down from an Overweight to an Equal-weight and the price target has been revised to $143 from $132. Analysts at Evercore ISI downgraded the stock from ‘”an Outperform”‘ to ‘”an In-line”‘ outlook in a report released in early August. As of July 06, 2023, Wolfe Research has increased its “Peer perform” rating to a “an Outperform” for SPG.
Analyzing SPG Stock Performance
During the last five days, there has been a drop of approximately -2.80%. Over the course of the year, Simon Property Group, Inc. shares have jumped approximately 2.04%. Shares of the company reached a 52-week high of $157.82 on 03/21/24 and a 52-week low of $135.15 on 02/05/24. A 50-day SMA is recorded $148.70, while a 200-day SMA reached $128.52. Nevertheless, trading volume fell to 1.46 million shares from 1.01 million shares the previous day.
Support And Resistance Levels for Simon Property Group, Inc. (SPG)
According to the 24-hour chart, there is a support level at 144.41, which, if violated, would cause prices to drop to 143.27. In the upper region, resistance lies at 146.85. The next price resistance is at 148.14. RSI (Relative Strength Index) is 39.93 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -2.56, which suggests the price will decrease in the coming days. Percent R is at 92.56%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Simon Property Group, Inc. subject to short interest?
Stocks of Simon Property Group, Inc. saw a sharp rise in short interest on Mar 28, 2024 jumping by 0.89 million shares to 4.63 million. Data from Yahoo Finance shows that the short interest on Feb 29, 2024 was 3.74 million shares. A jump of 19.22% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 2.8 of the overall float, the days-to-cover ratio (short ratio) jumped to 2.8.
