Macerich Co.’s recent filing unveils that its EVP, Business Development Volk Kenneth acquired Company’s shares for reported $77025.0 on May 10 ’24. In the deal valued at $15.40 per share,5,000 shares were bought. As a result of this transaction, Volk Kenneth now holds 51,924 shares worth roughly $0.77 million.
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Then, Kingsmore Scott W bought 6,000 shares, generating $96,360 in total proceeds. Upon buying the shares at $16.06, the Chief Financial Officer now owns 42,310 shares.
Before that, Menard Ann C bought 4,865 shares. Macerich Co. shares valued at $74,945 were divested by the Chief Legal Officer/Secretary at a price of $15.40 per share. As a result of the transaction, Menard Ann C now holds 20,633 shares, worth roughly $0.31 million.
Scotiabank downgraded its Macerich Co. [MAC] rating to a Sector underperform from a a Sector perform in a research note published on May 17, 2024; the price target was decreased to $14 from $16. A number of analysts have revised their coverage, including Piper Sandler’s analysts, who decreased its forecast for the stock in early May from “a Neutral” to “an Underweight”. Citigroup also remained covering MAC and has increased its forecast on March 22, 2024 with a “Neutral” recommendation from previously “Sell” rating. Piper Sandler revised its rating on October 02, 2023. It rated MAC as “a Neutral” which previously was an “an Underweight”.
Price Performance Review of MAC
On Friday, Macerich Co. [NYSE:MAC] saw its stock fall -1.65% to $14.92. Over the last five days, the stock has lost -1.32%. Macerich Co. shares have fallen nearly -3.31% since the year began. Nevertheless, the stocks have risen 33.00% over the past one year. While a 52-week high of $17.69 was reached on 02/16/24, a 52-week low of $9.14 was recorded on 05/01/24. SMA at 50 days reached $15.48, while 200 days put it at $14.07. A total of 1.18 million shares were traded, compared to the trading of 0.91 million shares in the previous session.
Levels Of Support And Resistance For MAC Stock
The 24-hour chart illustrates a support level at 14.76, which if violated will result in even more drops to 14.60. On the upside, there is a resistance level at 15.07. A further resistance level may holdings at 15.23. The Relative Strength Index (RSI) on the 14-day chart is 46.07, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.11, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 58.39%. Stochastics %K at 52.20% indicates the stock is a holding.
