Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Tanger Inc. shares valued at $550,246 were sold by Swanson Gallardo Leslie on Sep 09 ’24. At $30.74 per share, Swanson Gallardo Leslie sold 17,900 shares. The insider’s holdings dropped to 85,396 shares worth approximately $2.94 million following the completion of this transaction.
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Also, LESLIE A SWANSON GALLARDO purchased 17,900 shares, netting a total of over 550,307 in proceeds.
Before that, Guerrieri Thomas Joseph JR had sold 3,000 shares from its account. In a trade valued at $87,810, the SVP, CAO traded Tanger Inc. shares for $29.27 each. Upon closing the transaction, the insider’s holdings decreased to 3,000 shares, worth approximately $2.2 million.
As published in a research note from Scotiabank on May 17, 2024, Tanger Inc. [SKT] has been rated up from a Sector underperform to a Sector perform and the price target has been revised to $28 from $20. Analysts at Compass Point upgraded the stock from ‘”a Neutral”‘ to ‘”a Buy”‘ outlook in a report released in early May. As of April 05, 2024, BofA Securities has increased its “an Underperform” rating to a “Neutral” for SKT. Earlier on March 22, 2024, Citigroup upgraded its rating. Their new recommendation was “a Buy” for SKT stock which previously was a “a Neutral”.
Analyzing SKT Stock Performance
During the last five days, there has been a drop of approximately -0.09%. Over the course of the year, Tanger Inc. shares have jumped approximately 24.17%. Shares of the company reached a 52-week high of $34.81 on 10/18/24 and a 52-week low of $25.67 on 02/05/24. A 50-day SMA is recorded $31.85, while a 200-day SMA reached $28.77. Nevertheless, trading volume fell to 0.59 million shares from 0.36 million shares the previous day.
Support And Resistance Levels for Tanger Inc. (SKT)
According to the 24-hour chart, there is a support level at 34.15, which, if violated, would cause prices to drop to 33.89. In the upper region, resistance lies at 34.56. The next price resistance is at 34.71. RSI (Relative Strength Index) is 68.65 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.21, which suggests the price will decrease in the coming days. Percent R is at 20.74%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
