Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Eastgroup Properties, Inc. shares valued at $307,975 were sold by WOOD BRENT on Sep 12 ’24. At $184.42 per share, WOOD BRENT sold 1,670 shares. The insider’s holdings dropped to 110,926 shares worth approximately $19.8 million following the completion of this transaction.
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Also, Dunbar Richard Reid sold 1,650 shares, netting a total of over 303,590 in proceeds. Following the sale of shares at $183.99 each, the insider now holds 20,057 shares.
Before that, RICHARD REID DUNBAR had added 1,650 shares to its account. In a trade valued at $303,590, the Officer bought Eastgroup Properties, Inc. shares for $183.99 each.
As published in a research note from Evercore ISI on September 16, 2024, Eastgroup Properties, Inc. [EGP] has been rated up from an In-line to an Outperform and the price target has been revised to $204 from $192. Analysts at Mizuho upgraded the stock from ‘”a Neutral”‘ to ‘”an Outperform”‘ outlook in a report released in early September. As of August 28, 2024, Wells Fargo has increased its “an Equal weight” rating to a “an Overweight” for EGP. Earlier on July 22, 2024, Wedbush upgraded its rating. Their new recommendation was “an Outperform” for EGP stock which previously was a “a Neutral”.
Analyzing EGP Stock Performance
During the last five days, there has been a drop of approximately -1.92%. Over the course of the year, Eastgroup Properties, Inc. shares have dropped approximately -2.73%. Shares of the company reached a 52-week high of $192.61 on 07/24/24 and a 52-week low of $155.23 on 04/25/24. A 50-day SMA is recorded $184.13, while a 200-day SMA reached $176.81. Nevertheless, trading volume fell to 0.61 million shares from 0.36 million shares the previous day.
Support And Resistance Levels for Eastgroup Properties, Inc. (EGP)
According to the 24-hour chart, there is a support level at 175.94, which, if violated, would cause prices to drop to 173.35. In the upper region, resistance lies at 181.01. The next price resistance is at 183.49. RSI (Relative Strength Index) is 42.92 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.42, which suggests the price will decrease in the coming days. Percent R is at 65.99%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
