Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. American Tower Corp shares valued at $1,190,000 were sold by Goel Sanjay on Sep 13 ’24. At $238.00 per share, Goel Sanjay sold 5,000 shares. The insider’s holdings dropped to 18,621 shares worth approximately $3.68 million following the completion of this transaction.
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Also, Goel Sanjay purchased 5,000 shares, netting a total of over 1,190,000 in proceeds.
Before that, Noel Eugene M had sold 33,135 shares from its account. In a trade valued at $7,952,400, the EVP & President, U.S. Tower traded American Tower Corp shares for $240.00 each. Upon closing the transaction, the insider’s holdings decreased to 33,135 shares, worth approximately $5.29 million.
As published in a research note from Wells Fargo on October 10, 2024, American Tower Corp [AMT] has been rated down from an Overweight to an Equal weight and the price target has been revised to $230 from $245. Analysts at Goldman started covering the stock with ‘”a Buy”‘ outlook in a report released in early July. As of May 01, 2024, Raymond James has increased its “an Outperform” rating to a “Strong buy” for AMT. Earlier on April 08, 2024, Mizuho initiated its rating. Their recommendation was “a Neutral” for AMT stock.
Analyzing AMT Stock Performance
During the last five days, there has been a drop of approximately -7.34%. Over the course of the year, American Tower Corp shares have dropped approximately -8.34%. Shares of the company reached a 52-week high of $243.56 on 09/10/24 and a 52-week low of $170.46 on 04/30/24. A 50-day SMA is recorded $226.53, while a 200-day SMA reached $204.70. Nevertheless, trading volume fell to 4.89 million shares from 8.13 million shares the previous day.
Support And Resistance Levels for American Tower Corp (AMT)
According to the 24-hour chart, there is a support level at 195.63, which, if violated, would cause prices to drop to 193.40. In the upper region, resistance lies at 200.51. The next price resistance is at 203.16. RSI (Relative Strength Index) is 25.43 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -12.13, which suggests the price will decrease in the coming days. Percent R is at 89.97%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
