Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Macerich Co. shares valued at $74,945 were purchased by Menard Ann C on May 08 ’24. At $15.40 per share, Menard Ann C acquired 4,865 shares. The insider’s holdings grew to 20,633 shares worth approximately $0.33 million following the completion of this transaction.
Also, Healey Doug J purchased 7,500 shares, netting a total of over 114,000 in proceeds. Following the buying of shares at $15.20 each, the insider now holds 78,487 shares.
Before that, Hsieh Jackson had added 140,000 shares to its account. In a trade valued at $1,996,820, the President and CEO bought Macerich Co. shares for $14.26 each. Upon closing the transaction, the insider’s holdings increased to 140,000 shares, worth approximately $2.7 million.
As published in a research note from Piper Sandler on May 01, 2024, Macerich Co. [MAC] has been rated down from a Neutral to an Underweight and the price target has been revised to $11 from $17. Analysts at Citigroup upgraded the stock from ‘”a Sell”‘ to ‘”a Neutral”‘ outlook in a report released in late March. As of October 02, 2023, Piper Sandler has increased its “an Underweight” rating to a “Neutral” for MAC.
Analyzing MAC Stock Performance
During the last five days, there has been a surge of approximately 17.68%. Over the course of the year, Macerich Co. shares have jumped approximately 2.66%. Shares of the company reached a 52-week high of $17.69 on 02/16/24 and a 52-week low of $12.99 on 05/01/24. A 50-day SMA is recorded $15.96, while a 200-day SMA reached $13.76. Nevertheless, trading volume fell to 4.3 million shares from 2.4 million shares the previous day.
Support And Resistance Levels for Macerich Co. (MAC)
According to the 24-hour chart, there is a support level at 15.32, which, if violated, would cause prices to drop to 14.79. In the upper region, resistance lies at 16.11. The next price resistance is at 16.37. RSI (Relative Strength Index) is 53.83 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.19, which suggests the price will decrease in the coming days. Percent R is at 16.18%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
