Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Macy’s Inc shares valued at $18,291 were sold by Griscom Paul on Sep 05 ’24. At $15.23 per share, Griscom Paul sold 1,201 shares. The insider’s holdings dropped to 29,232 shares worth approximately $0.44 million following the completion of this transaction.
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Also, Griscom Paul purchased 4,085 shares, netting a total of over 62,500 in proceeds.
Before that, Mitchell Adrian V had sold 12,000 shares from its account. In a trade valued at $191,076, the EVP, COO & CFO traded Macy’s Inc shares for $15.92 each. Upon closing the transaction, the insider’s holdings decreased to 12,000 shares, worth approximately $1.64 million.
As published in a research note from Telsey Advisory Group on August 22, 2024, Macy’s Inc [M] has been retained to a Market perform and the price target has been revised to $17. Analysts at TD Cowen downgraded the stock from ‘”an Outperform”‘ to ‘”a Market perform”‘ outlook in a report released in late February. As of February 28, 2024, Telsey Advisory Group has reiterated its “Market perform” rating for M. Earlier on February 02, 2024, Citigroup upgraded its rating. Their new recommendation was “a Neutral” for M stock which previously was a “a Sell”.
Analyzing M Stock Performance
During the last five days, there has been a surge of approximately 3.42%. Over the course of the year, Macy’s Inc shares have dropped approximately -24.85%. Shares of the company reached a 52-week high of $22.10 on 03/19/24 and a 52-week low of $14.06 on 09/11/24. A 50-day SMA is recorded $16.12, while a 200-day SMA reached $18.41. Nevertheless, trading volume fell to 5.65 million shares from 4.34 million shares the previous day.
Support And Resistance Levels for Macy’s Inc (M)
According to the 24-hour chart, there is a support level at 14.90, which, if violated, would cause prices to drop to 14.69. In the upper region, resistance lies at 15.41. The next price resistance is at 15.71. RSI (Relative Strength Index) is 45.17 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.06, which suggests the price will decrease in the coming days. Percent R is at 41.44%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
