Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Macerich Co. shares valued at $77,025 were purchased by Volk Kenneth on May 10 ’24. At $15.40 per share, Volk Kenneth acquired 5,000 shares. The insider’s holdings grew to 51,924 shares worth approximately $0.79 million following the completion of this transaction.
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Also, Kingsmore Scott W purchased 6,000 shares, netting a total of over 96,360 in proceeds. Following the buying of shares at $16.06 each, the insider now holds 42,310 shares.
Before that, Menard Ann C had added 4,865 shares to its account. In a trade valued at $74,945, the Chief Legal Officer/Secretary bought Macerich Co. shares for $15.40 each. Upon closing the transaction, the insider’s holdings increased to 4,865 shares, worth approximately $0.31 million.
As published in a research note from Scotiabank on May 17, 2024, Macerich Co. [MAC] has been rated down from a Sector perform to a Sector underperform and the price target has been revised to $14 from $16. Analysts at Piper Sandler downgraded the stock from ‘”a Neutral”‘ to ‘”an Underweight”‘ outlook in a report released in early May. As of March 22, 2024, Citigroup has increased its “Sell” rating to a “Neutral” for MAC. Earlier on October 02, 2023, Piper Sandler upgraded its rating. Their new recommendation was “a Neutral” for MAC stock which previously was a “an Underweight”.
Analyzing MAC Stock Performance
During the last five days, there has been a surge of approximately 1.81%. Over the course of the year, Macerich Co. shares have dropped approximately -1.81%. 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 $15.09, while a 200-day SMA reached $14.28. Nevertheless, trading volume fell to 1.11 million shares from 1.38 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 14.86, which, if violated, would cause prices to drop to 14.58. In the upper region, resistance lies at 15.31. The next price resistance is at 15.48. RSI (Relative Strength Index) is 53.02 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 37.21%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
