Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. American Tower Corp. shares valued at $128,450 were sold by HORMATS ROBERT D on May 03 ’24. At $183.50 per share, HORMATS ROBERT D sold 700 shares. The insider’s holdings dropped to 7,332 shares worth approximately $1.37 million following the completion of this transaction.
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Also, Font Juan sold 540 shares, netting a total of over 106,645 in proceeds. Following the sale of shares at $197.49 each, the insider now holds 19,265 shares.
Before that, Smith Rodney M had sold 11,510 shares from its account. In a trade valued at $2,367,767, the EVP, CFO & Treasurer traded American Tower Corp. shares for $205.71 each. Upon closing the transaction, the insider’s holdings decreased to 11,510 shares, worth approximately $11.75 million.
As published in a research note from Raymond James on May 01, 2024, American Tower Corp. [AMT] has been rated up from an Outperform to a Strong buy and the price target has been revised to $248 from $226. Analysts at Mizuho started covering the stock with ‘”a Neutral”‘ outlook in a report released in early April. As of December 14, 2023, HSBC Securities has initiated its “Buy” rating for AMT. Earlier on October 13, 2023, Scotiabank initiated its rating. Their recommendation was “a Sector outperform” for AMT stock.
Analyzing AMT Stock Performance
During the last five days, there has been a drop of approximately -4.28%. Over the course of the year, American Tower Corp. shares have dropped approximately -13.56%. Shares of the company reached a 52-week high of $219.10 on 01/02/24 and a 52-week low of $170.46 on 04/30/24. A 50-day SMA is recorded $185.54, while a 200-day SMA reached $188.67. Nevertheless, trading volume fell to 1.75 million shares from 1.68 million shares the previous day.
Support And Resistance Levels for American Tower Corp. (AMT)
According to the 24-hour chart, there is a support level at 184.88, which, if violated, would cause prices to drop to 183.17. In the upper region, resistance lies at 189.94. The next price resistance is at 193.29. RSI (Relative Strength Index) is 51.05 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 2.87, which suggests the price will increase in the coming days. Percent R is at 51.42%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
