Macy’s Inc’s recently made public that its Director Gennette Jeffrey unloaded Company’s shares for reported $0.59 million on Apr 01 ’24. In the deal valued at $19.66 per share,30,090 shares were sold. As a result of this transaction, Gennette Jeffrey now holds 1,073,699 shares worth roughly $20.72 million.
Then, Spring Antony sold 14,859 shares, generating $291,743 in total proceeds. Upon selling the shares at $19.63, the CEO & Chair-Elect now owns 248,897 shares.
Before that, Mitchell Adrian V sold 13,279 shares. Macy’s Inc shares valued at $260,716 were divested by the EVP, COO & CFO at a price of $19.63 per share. As a result of the transaction, Mitchell Adrian V now holds 120,457 shares, worth roughly $2.32 million.
TD Cowen downgraded its Macy’s Inc [M] rating to a Market perform from a an Outperform in a research note published on February 29, 2024; the price target was decreased to $20 from $23. A number of analysts have revised their coverage, including Telsey Advisory Group’s analysts, who remained covering the stock and in late February has reiterated a ‘”a Market perform”‘ rating for it. Citigroup also remained covering M and has increased its forecast on February 02, 2024 with a “Neutral” recommendation from previously “Sell” rating. Citigroup revised its rating on December 12, 2023. It rated M as “a Sell” which previously was an “a Neutral”.
Price Performance Review of M
On Friday, Macy’s Inc [NYSE:M] saw its stock fall -3.16% to $19.30. Over the last five days, the stock has gained 3.88%. Macy’s Inc shares have fallen nearly -4.08% since the year began. Nevertheless, the stocks have risen 10.10% over the past one year. While a 52-week high of $22.10 was reached on 03/19/24, a 52-week low of $10.54 was recorded on 02/29/24. SMA at 50 days reached $19.64, while 200 days put it at $16.07. A total of 5.45 million shares were traded, compared to the trading of 9.46 million shares in the previous session.
Levels Of Support And Resistance For M Stock
The 24-hour chart illustrates a support level at 19.06, which if violated will result in even more drops to 18.82. On the upside, there is a resistance level at 19.68. A further resistance level may holdings at 20.06. The Relative Strength Index (RSI) on the 14-day chart is 46.57, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.40, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 58.26%. Stochastics %K at 56.75% indicates the stock is a holding.
The most recent change occurred on November 07, 2023 when Evercore ISI began covering the stock and recommended ‘”an In-line”‘ rating along with a $13 price target.
