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SITC Shares Experience Surge in Value

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. SITE Centers Corp shares valued at $1,622,266 were sold by Otto Alexander on Jun 17 ’24. At $14.51 per share, Otto Alexander sold 111,811 shares. The insider’s holdings dropped to 18,627,298 shares worth approximately $269.35 million following the completion of this transaction.

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Also, Otto Alexander sold 149,835 shares, netting a total of over 2,180,848 in proceeds. Following the sale of shares at $14.55 each, the insider now holds 18,739,109 shares.

Before that, Otto Alexander had sold 182,383 shares from its account. In a trade valued at $2,666,439, the Director traded SITE Centers Corp shares for $14.62 each. Upon closing the transaction, the insider’s holdings decreased to 182,383 shares, worth approximately $273.13 million.

As published in a research note from Wolfe Research on January 05, 2024, SITE Centers Corp [SITC] has been rated down from an Outperform to a Peer perform. Analysts at Wells Fargo upgraded the stock from ‘”an Equal weight”‘ to ‘”an Overweight”‘ outlook in a report released in mid September. As of May 24, 2023, Wells Fargo has initiated its “an Equal weight” rating for SITC. Earlier on January 10, 2023, Mizuho downgraded its rating. Their new recommendation was “a Neutral” for SITC stock which previously was a “a Buy”.

Analyzing SITC Stock Performance

During the last five days, there has been a drop of approximately -1.03%. Over the course of the year, SITE Centers Corp shares have jumped approximately 6.09%. Shares of the company reached a 52-week high of $14.88 on 06/12/24 and a 52-week low of $13.06 on 02/05/24. A 50-day SMA is recorded $14.07, while a 200-day SMA reached $13.50. Nevertheless, trading volume fell to 1.55 million shares from 1.03 million shares the previous day.

Support And Resistance Levels for SITE Centers Corp (SITC)

According to the 24-hour chart, there is a support level at 14.29, which, if violated, would cause prices to drop to 14.11. In the upper region, resistance lies at 14.57. The next price resistance is at 14.67. RSI (Relative Strength Index) is 53.34 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.09, which suggests the price will decrease in the coming days. Percent R is at 63.64%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.

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