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. Sun Communities, Inc. shares valued at $320,986 were sold by Leupold Craig on Mar 28 ’24. At $128.39 per share, Leupold Craig sold 2,500 shares. The insider’s holdings dropped to 0 shares worth approximately $0.0 following the completion of this transaction.
Also, Underwood Baxter sold 4,000 shares, netting a total of over 525,920 in proceeds. Following the sale of shares at $131.48 each, the insider now holds 66,852 shares.
Before that, LEWIS CLUNET R had sold 500 shares from its account. In a trade valued at $65,565, the Director traded Sun Communities, Inc. shares for $131.13 each. Upon closing the transaction, the insider’s holdings decreased to 500 shares, worth approximately $3.48 million.
As published in their initiating research note from Deutsche Bank on January 30, 2024, Sun Communities, Inc. [SUI] has been a Hold and the price target has been revised to $129. Analysts at Truist downgraded the stock from ‘”a Buy”‘ to ‘”a Hold”‘ outlook in a report released in mid January. As of October 10, 2023, Compass Point has initiated its “Neutral” rating for SUI. Earlier on October 02, 2023, BofA Securities downgraded its rating. Their new recommendation was “a Neutral” for SUI stock which previously was a “a Buy”.
Analyzing SUI Stock Performance
During the last five days, there has been a drop of approximately -0.24%. Over the course of the year, Sun Communities, Inc. shares have dropped approximately -8.25%. Shares of the company reached a 52-week high of $136.61 on 01/10/24 and a 52-week low of $121.82 on 04/03/24. A 50-day SMA is recorded $128.54, while a 200-day SMA reached $125.70. Nevertheless, trading volume fell to 0.54 million shares from 0.57 million shares the previous day.
Support And Resistance Levels for Sun Communities, Inc. (SUI)
According to the 24-hour chart, there is a support level at 121.57, which, if violated, would cause prices to drop to 120.52. In the upper region, resistance lies at 124.27. The next price resistance is at 125.92. RSI (Relative Strength Index) is 39.03 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.32, which suggests the price will decrease in the coming days. Percent R is at 91.96%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Sun Communities, Inc. subject to short interest?
Stocks of Sun Communities, Inc. saw a sharp rise in short interest on Mar 15, 2024 jumping by 0.56 million shares to 1.75 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 1.19 million shares. A jump of 32.0% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 1.55 of the overall float, the days-to-cover ratio (short ratio) jumped to 1.55.
