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EGP (Eastgroup Properties, Inc) may reap gains as insiders became active recently

In a filing, Eastgroup Properties, Inc revealed its Executive Vice President & CFO WOOD BRENT unloaded Company’s shares for reported $0.31 million on Sep 12 ’24. In the deal valued at $184.42 per share,1,670 shares were sold. As a result of this transaction, WOOD BRENT now holds 110,926 shares worth roughly $17.97 million.

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Then, Dunbar Richard Reid sold 1,650 shares, generating $303,590 in total proceeds. Upon selling the shares at $183.99, the Senior Vice President now owns 20,057 shares.

Before that, RICHARD REID DUNBAR bought 1,650 shares. Eastgroup Properties, Inc shares valued at $303,590 were divested by the Officer at a price of $183.99 per share.

KeyBanc Capital Markets downgraded its Eastgroup Properties, Inc [EGP] rating to a Sector weight from a an Overweight in a research note published recently. A number of analysts have revised their coverage, including Raymond James’s analysts, who increased its forecast for the stock in mid December from “an Outperform” to “a Strong buy”. Evercore ISI also remained covering EGP and has increased its forecast on September 16, 2024 with a “an Outperform” recommendation from previously “an In-line” rating. Mizuho revised its rating on September 05, 2024. It rated EGP as “an Outperform” which previously was an “a Neutral”.

Price Performance Review of EGP

On Tuesday, Eastgroup Properties, Inc [NYSE:EGP] saw its stock jump 0.56% to $161.98. Over the last five days, the stock has lost -3.42%. Eastgroup Properties, Inc shares have fallen nearly -11.75% since the year began. Nevertheless, the stocks have fallen -11.81% over the past one year. While a 52-week high of $192.61 was reached on 07/24/24, a 52-week low of $155.23 was recorded on 04/25/24. SMA at 50 days reached $172.48, while 200 days put it at $174.75.

Levels Of Support And Resistance For EGP Stock

The 24-hour chart illustrates a support level at 160.78, which if violated will result in even more drops to 159.59. On the upside, there is a resistance level at 162.63. A further resistance level may holdings at 163.28. The Relative Strength Index (RSI) on the 14-day chart is 37.22, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -5.26, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 79.47%. Stochastics %K at 17.69% indicates the stock is a buying.

How much short interest is there in Eastgroup Properties, Inc?

A steep rise in short interest was recorded in Eastgroup Properties, Inc stocks on 2024-11-29, growing by 0.3 million shares to a total of 1.84 million shares. Yahoo Finance data shows the prior-month short interest on 2024-10-31 was 1.54 million shares. There was a rise of 16.2%, which implies that there is a positive sentiment for the stock.

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