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Buying Buzz: Claros Mortgage Trust Inc [CMTG] CEO & CHAIRMAN Mack Richard purchases 40,000 shares of the company

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. Claros Mortgage Trust Inc shares valued at $276,000 were purchased by Mack Richard on May 29 ’24. At $6.90 per share, Mack Richard acquired 40,000 shares. The insider’s holdings grew to 2,591,853 shares worth approximately $20.76 million following the completion of this transaction.

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Also, Mack Richard purchased 116,000 shares, netting a total of over 832,880 in proceeds. Following the buying of shares at $7.18 each, the insider now holds 2,551,853 shares.

Before that, WALTER W EDWARD had added 7,000 shares to its account. In a trade valued at $50,470, the Director bought Claros Mortgage Trust Inc shares for $7.21 each. Upon closing the transaction, the insider’s holdings increased to 7,000 shares, worth approximately $0.11 million.

Analysts at Wells Fargo downgraded the stock from ‘”an Overweight”‘ to ‘”an Equal weight”‘ outlook in a report released in early August. As of July 24, 2023, JP Morgan has increased its “an Underweight” rating to a “Neutral” for CMTG. Earlier on April 25, 2023, BTIG Research initiated its rating. Their recommendation was “a Neutral” for CMTG stock.

Analyzing CMTG Stock Performance

During the last five days, there has been a drop of approximately -3.96%. Over the course of the year, Claros Mortgage Trust Inc shares have dropped approximately -41.23%. Shares of the company reached a 52-week high of $13.88 on 01/02/24 and a 52-week low of $6.80 on 05/29/24. A 50-day SMA is recorded $8.28, while a 200-day SMA reached $10.40. Nevertheless, trading volume fell to 0.12 million shares from 0.51 million shares the previous day.

Support And Resistance Levels for Claros Mortgage Trust Inc (CMTG)

According to the 24-hour chart, there is a support level at 7.95, which, if violated, would cause prices to drop to 7.90. In the upper region, resistance lies at 8.09. The next price resistance is at 8.18. RSI (Relative Strength Index) is 45.65 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.18, which suggests the price will decrease in the coming days. Percent R is at 69.62%, indicating low price movement. Stochastics%K at holding indicates that the stock is to be held.

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