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. American Tower Corp. shares valued at $106,645 were sold by Font Juan on Mar 15 ’24. At $197.49 per share, Font Juan sold 540 shares. The insider’s holdings dropped to 19,265 shares worth approximately $3.44 million following the completion of this transaction.
Also, Smith Rodney M sold 11,510 shares, netting a total of over 2,367,767 in proceeds. Following the sale of shares at $205.71 each, the insider now holds 62,969 shares.
Before that, Vondran Steven O had sold 3,265 shares from its account. In a trade valued at $654,382, the President and CEO traded American Tower Corp. shares for $200.42 each. Upon closing the transaction, the insider’s holdings decreased to 3,265 shares, worth approximately $10.43 million.
As published in their initiating research note from Mizuho on April 08, 2024, American Tower Corp. [AMT] has been a Neutral and the price target has been revised to $205. Analysts at HSBC Securities started covering the stock with ‘”a Buy”‘ outlook in a report released in mid December. As of October 13, 2023, Scotiabank has initiated its “Sector outperform” rating for AMT. Earlier on July 13, 2023, BMO Capital Markets initiated its rating. Their recommendation was “an Outperform” for AMT stock.
Analyzing AMT Stock Performance
During the last five days, there has been a drop of approximately -6.13%. Over the course of the year, American Tower Corp. shares have dropped approximately -17.25%. Shares of the company reached a 52-week high of $219.10 on 01/02/24 and a 52-week low of $178.33 on 04/11/24. A 50-day SMA is recorded $194.33, while a 200-day SMA reached $190.15. Nevertheless, trading volume fell to 3.69 million shares from 4.14 million shares the previous day.
Support And Resistance Levels for American Tower Corp. (AMT)
According to the 24-hour chart, there is a support level at 177.22, which, if violated, would cause prices to drop to 175.80. In the upper region, resistance lies at 181.17. The next price resistance is at 183.70. RSI (Relative Strength Index) is 29.27 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -6.74, which suggests the price will decrease in the coming days. Percent R is at 98.45%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is American Tower Corp. subject to short interest?
Stocks of American Tower Corp. saw a sharp steep in short interest on Mar 28, 2024 dropping by 20000.0 shares to 5.1 million. Data from Yahoo Finance shows that the short interest on Feb 29, 2024 was 5.12 million shares. A decline of -0.39% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 2.09 of the overall float, the days-to-cover ratio (short ratio) decline to 2.09.
