In a filing, Macerich Co. revealed its Director COPPOLA EDWARD C unloaded Company’s shares for reported $1.29 million on Mar 28 ’24. In the deal valued at $17.19 per share,75,000 shares were sold. As a result of this transaction, COPPOLA EDWARD C now holds 560,667 shares worth roughly $8.01 million.
Then, COPPOLA EDWARD C sold 20,000 shares, generating $340,200 in total proceeds. Upon selling the shares at $17.01, the Director now owns 635,667 shares.
Before that, O HERN THOMAS E sold 95,000 shares. Macerich Co. shares valued at $1,609,300 were divested by the Director at a price of $16.94 per share. As a result of the transaction, O HERN THOMAS E now holds 102,900 shares, worth roughly $1.47 million.
Piper Sandler downgraded its Macerich Co. [MAC] rating to an Underweight from a a Neutral in a research note published on May 01, 2024; the price target was decreased to $11 from $17. A number of analysts have revised their coverage, including Citigroup’s analysts, who increased its forecast for the stock in late March from “a Sell” to “a Neutral”. Piper Sandler also remained covering MAC and has increased its forecast on October 02, 2023 with a “Neutral” recommendation from previously “an Underweight” rating.
Price Performance Review of MAC
On Friday, Macerich Co. [NYSE:MAC] saw its stock jump 3.55% to $14.29. Over the last five days, the stock has lost -8.81%. Macerich Co. shares have fallen nearly -7.39% since the year began. Nevertheless, the stocks have risen 42.61% over the past one year. While a 52-week high of $17.69 was reached on 02/16/24, a 52-week low of $8.90 was recorded on 05/01/24. SMA at 50 days reached $16.04, while 200 days put it at $13.72. A total of 2.27 million shares were traded, compared to the trading of 2.38 million shares in the previous session.
Levels Of Support And Resistance For MAC Stock
The 24-hour chart illustrates a support level at 14.00, which if violated will result in even more drops to 13.70. On the upside, there is a resistance level at 14.45. A further resistance level may holdings at 14.60. The Relative Strength Index (RSI) on the 14-day chart is 39.62, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -1.25, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 61.76%. Stochastics %K at 25.29% indicates the stock is a holding.
