Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Sun Communities, Inc. shares valued at $394,290 were sold by Underwood Baxter on Aug 05 ’24. At $131.43 per share, Underwood Baxter sold 3,000 shares. The insider’s holdings dropped to 63,462 shares worth approximately $8.18 million following the completion of this transaction.
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Also, Leupold Craig sold 2,500 shares, netting a total of over 320,986 in proceeds. Following the sale of shares at $128.39 each, the insider now holds 0 shares.
Before that, Underwood Baxter had sold 4,000 shares from its account. In a trade valued at $525,920, the CEO – Safe Harbor Marinas, LLC traded Sun Communities, Inc. shares for $131.48 each. Upon closing the transaction, the insider’s holdings decreased to 4,000 shares, worth approximately $8.62 million.
As published in a research note from Evercore ISI on September 16, 2024, Sun Communities, Inc. [SUI] has been rated down from an Outperform to an In-line and the price target has been revised to $149 from $144. Analysts at Deutsche Bank started covering the stock with ‘”a Hold”‘ outlook in a report released in late January. As of January 16, 2024, Truist has decreased its “Buy” rating to a “Hold” for SUI. Earlier on October 10, 2023, Compass Point initiated its rating. Their recommendation was “a Neutral” for SUI stock.
Analyzing SUI Stock Performance
During the last five days, there has been a drop of approximately -1.67%. Over the course of the year, Sun Communities, Inc. shares have dropped approximately -3.57%. Shares of the company reached a 52-week high of $147.83 on 09/13/24 and a 52-week low of $110.98 on 04/30/24. A 50-day SMA is recorded $134.93, while a 200-day SMA reached $126.97. Nevertheless, trading volume fell to 1.34 million shares from 1.04 million shares the previous day.
Support And Resistance Levels for Sun Communities, Inc. (SUI)
According to the 24-hour chart, there is a support level at 127.34, which, if violated, would cause prices to drop to 125.79. In the upper region, resistance lies at 129.93. The next price resistance is at 130.97. RSI (Relative Strength Index) is 37.75 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -5.94, which suggests the price will decrease in the coming days. Percent R is at 72.60%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
