The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Agree Realty Corp. shares valued at $1,186,400 were purchased by RAKOLTA JOHN JR on May 23 ’24. At $59.32 per share, RAKOLTA JOHN JR acquired 20,000 shares. The insider’s holdings grew to 436,011 shares worth approximately $27.02 million following the completion of this transaction.
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Also, Lehmkuhl Greg purchased 1,000 shares, netting a total of over 58,990 in proceeds. Following the buying of shares at $58.99 each, the insider now holds 23,036 shares.
Before that, Breslin Stephen had added 450 shares to its account. In a trade valued at $24,898, the CHIEF ACCOUNTING OFFICER bought Agree Realty Corp. shares for $55.33 each. Upon closing the transaction, the insider’s holdings increased to 450 shares, worth approximately $0.65 million.
As published in their initiating research note from UBS on May 31, 2024, Agree Realty Corp. [ADC] has been a Neutral and the price target has been revised to $60. Analysts at BMO Capital Markets started covering the stock with ‘”an Outperform”‘ outlook in a report released in mid February. As of January 22, 2024, JMP Securities has increased its “Mkt perform” rating to a “Mkt outperform” for ADC. Earlier on December 13, 2023, Exane BNP Paribas downgraded its rating. Their new recommendation was “a Neutral” for ADC stock which previously was a “an Outperform”.
Analyzing ADC Stock Performance
During the last five days, there has been a surge of approximately 1.46%. Over the course of the year, Agree Realty Corp. shares have dropped approximately -1.56%. Shares of the company reached a 52-week high of $63.93 on 01/08/24 and a 52-week low of $54.28 on 03/01/24. A 50-day SMA is recorded $60.11, while a 200-day SMA reached $58.50. Nevertheless, trading volume fell to 0.22 million shares from 0.84 million shares the previous day.
Support And Resistance Levels for Agree Realty Corp. (ADC)
According to the 24-hour chart, there is a support level at 61.70, which, if violated, would cause prices to drop to 61.49. In the upper region, resistance lies at 62.13. The next price resistance is at 62.35. RSI (Relative Strength Index) is 60.08 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.33, which suggests the price will decrease in the coming days. Percent R is at 12.69%, indicating bullish price movement. Stochastics%K at selling indicates that the stock is to be held.
