Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Eastgroup Properties, Inc shares valued at $307,975 were sold by WOOD BRENT on Sep 12 ’24. At $184.42 per share, WOOD BRENT sold 1,670 shares. The insider’s holdings dropped to 110,926 shares worth approximately $17.61 million following the completion of this transaction.
Also, Dunbar Richard Reid sold 1,650 shares, netting a total of over 303,590 in proceeds. Following the sale of shares at $183.99 each, the insider now holds 20,057 shares.
Before that, RICHARD REID DUNBAR had added 1,650 shares to its account. In a trade valued at $303,590, the Officer bought Eastgroup Properties, Inc shares for $183.99 each.
As published in a research note from Jefferies on January 02, 2025, Eastgroup Properties, Inc [EGP] has been rated up from a Hold to a Buy and the price target has been revised to $194 from $174. Analysts at KeyBanc Capital Markets downgraded the stock from ‘”an Overweight”‘ to ‘”a Sector weight”‘ outlook in a report released in mid December. As of December 11, 2024, Raymond James has increased its “an Outperform” rating to a “Strong buy” for EGP. Earlier on September 16, 2024, Evercore ISI upgraded its rating. Their new recommendation was “an Outperform” for EGP stock which previously was a “an In-line”.
Analyzing EGP Stock Performance
During the last five days, there has been a drop of approximately -1.11%. Over the course of the year, Eastgroup Properties, Inc shares have dropped approximately -1.11%. Shares of the company reached a 52-week high of $162.77 on 01/06/25 and a 52-week low of $157.14 on 01/08/25. A 50-day SMA is recorded $168.81, while a 200-day SMA reached $173.90. Nevertheless, trading volume fell to 0.29 million shares from 0.36 million shares the previous day.
Support And Resistance Levels for Eastgroup Properties, Inc (EGP)
According to the 24-hour chart, there is a support level at 157.24, which, if violated, would cause prices to drop to 155.78. In the upper region, resistance lies at 160.07. The next price resistance is at 161.44. RSI (Relative Strength Index) is 36.26 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.49, which suggests the price will decrease in the coming days. Percent R is at 86.71%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
