Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Simon Property Group, Inc shares valued at $61,901 were purchased by HUBBARD ALLAN B on Sep 30 ’24. At $167.30 per share, HUBBARD ALLAN B acquired 370 shares. The insider’s holdings grew to 34,301 shares worth approximately $6.15 million following the completion of this transaction.
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Also, STEWART MARTA R purchased 172 shares, netting a total of over 28,776 in proceeds. Following the buying of shares at $167.30 each, the insider now holds 14,287 shares.
Before that, LEIBOWITZ REUBEN S had added 453 shares to its account. In a trade valued at $75,787, the Director bought Simon Property Group, Inc shares for $167.30 each. Upon closing the transaction, the insider’s holdings increased to 453 shares, worth approximately $9.94 million.
As published in a research note from Evercore ISI on September 16, 2024, Simon Property Group, Inc [SPG] has been rated up from an In-line to an Outperform and the price target has been revised to $172 from $160. Analysts at Stifel downgraded the stock from ‘”a Buy”‘ to ‘”a Hold”‘ outlook in a report released in mid September. As of September 03, 2024, Piper Sandler has decreased its “an Overweight” rating to a “Neutral” for SPG. Earlier on December 21, 2023, Morgan Stanley downgraded its rating. Their new recommendation was “an Equal-weight” for SPG stock which previously was a “an Overweight”.
Analyzing SPG Stock Performance
During the last five days, there has been a surge of approximately 3.20%. Over the course of the year, Simon Property Group, Inc shares have jumped approximately 25.61%. Shares of the company reached a 52-week high of $182.84 on 11/12/24 and a 52-week low of $135.15 on 02/05/24. A 50-day SMA is recorded $170.17, while a 200-day SMA reached $155.18. Nevertheless, trading volume fell to 1.11 million shares from 1.52 million shares the previous day.
Support And Resistance Levels for Simon Property Group, Inc (SPG)
According to the 24-hour chart, there is a support level at 178.05, which, if violated, would cause prices to drop to 176.93. In the upper region, resistance lies at 180.74. The next price resistance is at 182.31. RSI (Relative Strength Index) is 61.84 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 5.46, which suggests the price will increase in the coming days. Percent R is at 21.79%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
