In a filing, Macerich Co revealed its Thomas O’Hern TTEE O’Hern Liv O’Hern Living Trust U/A/D 11-2 acquired Company’s shares for reported $1.12 million on Nov 12 ’24. In the deal valued at $19.50 per share,57,200 shares were bought.
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Then, Volk Kenneth bought 5,000 shares, generating $77,025 in total proceeds. Upon buying the shares at $15.40, the EVP, Business Development now owns 51,924 shares.
Before that, Kingsmore Scott W bought 6,000 shares. Macerich Co shares valued at $96,360 were divested by the Chief Financial Officer at a price of $16.06 per share. As a result of the transaction, Kingsmore Scott W now holds 42,310 shares, worth roughly $0.89 million.
Scotiabank downgraded its Macerich Co [MAC] rating to a Sector underperform from a a Sector perform in a research note published on May 17, 2024; the price target was decreased to $14 from $16. A number of analysts have revised their coverage, including Piper Sandler’s analysts, who decreased its forecast for the stock in early May from “a Neutral” to “an Underweight”. Citigroup also remained covering MAC and has increased its forecast on March 22, 2024 with a “Neutral” recommendation from previously “Sell” rating. Piper Sandler revised its rating on October 02, 2023. It rated MAC as “a Neutral” which previously was an “an Underweight”.
Price Performance Review of MAC
On Tuesday, Macerich Co [NYSE:MAC] saw its stock jump 3.00% to $20.93. Over the last five days, the stock has gained 6.89%. Macerich Co shares have risen nearly 35.64% since the year began. Nevertheless, the stocks have risen 89.58% over the past one year. While a 52-week high of $20.42 was reached on 11/26/24, a 52-week low of $10.75 was recorded on 05/01/24. SMA at 50 days reached $18.54, while 200 days put it at $16.37.
Levels Of Support And Resistance For MAC Stock
The 24-hour chart illustrates a support level at 20.50, which if violated will result in even more drops to 20.07. On the upside, there is a resistance level at 21.38. A further resistance level may holdings at 21.83. The Relative Strength Index (RSI) on the 14-day chart is 72.71, which indicates overbought technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.69, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 16.55%. Stochastics %K at 83.29% indicates the stock is a selling.
How much short interest is there in Macerich Co?
A steep rise in short interest was recorded in Macerich Co stocks on 2024-11-15, growing by 1.16 million shares to a total of 14.29 million shares. Yahoo Finance data shows the prior-month short interest on 2024-10-15 was 13.13 million shares. There was a rise of 8.14%, which implies that there is a positive sentiment for the stock.
