Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Eastgroup Properties, Inc. shares valued at $456,859 were sold by WOOD BRENT on Feb 13 ’24. At $182.74 per share, WOOD BRENT sold 2,500 shares. The insider’s holdings dropped to 102,617 shares worth approximately $16.1 million following the completion of this transaction.
Also, COLEMAN JOHN F sold 1,000 shares, netting a total of over 173,052 in proceeds. Following the sale of shares at $173.05 each, the insider now holds 90,305 shares.
Before that, Dunbar Richard Reid had sold 1,600 shares from its account. In a trade valued at $290,000, the Senior Vice President traded Eastgroup Properties, Inc. shares for $181.25 each. Upon closing the transaction, the insider’s holdings decreased to 1,600 shares, worth approximately $2.71 million.
As published in their initiating research note from BMO Capital Markets on April 22, 2024, Eastgroup Properties, Inc. [EGP] has been an Outperform and the price target has been revised to $190. Analysts at JP Morgan started covering the stock with ‘”a Neutral”‘ outlook in a report released in mid April. As of March 27, 2024, Barclays has initiated its “an Equal weight” rating for EGP. Earlier on December 05, 2023, Mizuho downgraded its rating. Their new recommendation was “a Neutral” for EGP stock which previously was a “a Buy”.
Analyzing EGP Stock Performance
During the last five days, there has been a drop of approximately -0.72%. Over the course of the year, Eastgroup Properties, Inc. shares have dropped approximately -14.54%. Shares of the company reached a 52-week high of $188.55 on 02/12/24 and a 52-week low of $155.23 on 04/25/24. A 50-day SMA is recorded $173.33, while a 200-day SMA reached $174.76. Nevertheless, trading volume fell to 0.32 million shares from 0.27 million shares the previous day.
Support And Resistance Levels for Eastgroup Properties, Inc. (EGP)
According to the 24-hour chart, there is a support level at 154.62, which, if violated, would cause prices to drop to 152.39. In the upper region, resistance lies at 159.83. The next price resistance is at 162.81. RSI (Relative Strength Index) is 34.39 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -4.39, which suggests the price will decrease in the coming days. Percent R is at 90.63%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
