Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Tanger Inc shares valued at $108,810 were sold by Guerrieri Thomas Joseph JR on Nov 19 ’24. At $36.27 per share, Guerrieri Thomas Joseph JR sold 3,000 shares. The insider’s holdings dropped to 59,641 shares worth approximately $2.19 million following the completion of this transaction.
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Also, Thomas J Guerrieri Jr purchased 3,000 shares, netting a total of over 108,100 in proceeds.
Before that, Swanson Gallardo Leslie had sold 17,900 shares from its account. In a trade valued at $550,246, the EVP, Chief Operating Officer traded Tanger Inc shares for $30.74 each. Upon closing the transaction, the insider’s holdings decreased to 17,900 shares, worth approximately $3.13 million.
As published in a research note from BofA Securities on November 11, 2024, Tanger Inc [SKT] has been rated up from a Neutral to a Buy and the price target has been revised to $40 from $35. Analysts at Scotiabank upgraded the stock from ‘”a Sector underperform”‘ to ‘”a Sector perform”‘ outlook in a report released in mid May. As of May 02, 2024, Compass Point has increased its “Neutral” rating to a “Buy” for SKT. Earlier on April 05, 2024, BofA Securities upgraded its rating. Their new recommendation was “a Neutral” for SKT stock which previously was a “an Underperform”.
Analyzing SKT Stock Performance
During the last five days, there has been a surge of approximately 2.63%. Over the course of the year, Tanger Inc shares have jumped approximately 32.29%. Shares of the company reached a 52-week high of $36.81 on 11/21/24 and a 52-week low of $25.67 on 02/05/24. A 50-day SMA is recorded $33.83, while a 200-day SMA reached $29.55. Nevertheless, trading volume fell to 0.55 million shares from 0.69 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 36.41, which, if violated, would cause prices to drop to 36.15. In the upper region, resistance lies at 36.87. The next price resistance is at 37.07. RSI (Relative Strength Index) is 73.77 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.06, which suggests the price will increase in the coming days. Percent R is at 3.75%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
