Let’s look at the key reasons that are pushing Macerich Co. (MAC) to new highs

On Friday, Macerich Co. (NYSE: MAC) was 1.60% up from the session before settling in for the closing price of $16.23. A 52-week range for MAC has been $9.14 – $17.69.

During the last 5-year period, the sales drop of Real Estate Sector giant was -1.39%. When this article was written, the company’s average yearly earnings per share was at 121.58%. With a float of $214.03 million, this company’s outstanding shares have now reached $215.98 million.

Let’s determine the extent of company efficiency that accounts for 655 employees. In terms of profitability, gross margin is 30.69%, operating margin of 32.19%, and the pretax margin is -40.8%.

Macerich Co. (MAC) Breakdown of a Key Holders of the stock

Also, it is sometimes useful to examine the sentiment of large-scale investors toward Macerich Co. stocks. The insider ownership of Macerich Co. is 0.91%, while institutional ownership is 95.08%. The most recent insider transaction that took place on May 10 ’24, was worth 77,025. In this transaction EVP, Business Development of this company bought 5,000 shares at a rate of $15.40, taking the stock ownership to the 51,924 shares. Before that another transaction happened on May 09 ’24, when Company’s Chief Financial Officer bought 6,000 for $16.06, making the entire transaction worth $96,360. This insider now owns 42,310 shares in total.

Macerich Co. (MAC) Recent Fiscal highlights

Going through the last 3-months fiscal report unveiled on the 6/30/2024, it has been observed that the corporation posted -1.22 earnings per share (EPS) during the time that was less than consensus figure (set at -0.05) by -1.17. Wall Street market experts anticipate that the next fiscal year will bring earnings of 0.06 per share during the current fiscal year.

According to the Wall Street analysts, stocks earnings will be around 121.58% per share during the next fiscal year.

Macerich Co. (NYSE: MAC) Trading Performance Indicators

You can see what Macerich Co. (MAC) is doing with its current performance indicators. In addition, a publicly-traded company’s price to sales ratio for the trailing twelve months stands at 4.03. Likewise, its price to free cash flow for the trailing twelve months is 11.87.

For the trailing twelve months, Company’s Diluted EPS (Earnings per Share) is -1.00, a number that is poised to hit -0.05 in the next quarter and is forecasted to reach -0.19 in one year’s time.

Technical Analysis of Macerich Co. (MAC)

Looking closely at Macerich Co. (NYSE: MAC), its last 5-days average volume was 1.74 million, which is a drop from its year-to-date volume of 1.82 million. As of the previous 9 days, the stock’s Stochastic %D was 88.98%. Additionally, its Average True Range was 0.49.

During the past 100 days, Macerich Co.’s (MAC) raw stochastic average was set at 89.74%, which indicates a significant decrease from 93.45% during the past two weeks. Based on volatility metrics of the stock, it showed a historical volatility of 30.28% in the past 14 days, which was lower than the 43.55% volatility it showed in the past 100 days.

At the time of writing, stock’s 50-day Moving Average is $15.46, while its 200-day Moving Average is $15.50. However, in the short run, Macerich Co.’s stock first resistance to watch stands at $16.62. Second resistance stands at $16.74. The third major resistance level sits at $16.89. If the price goes on to break the first support level at $16.35, it is likely to go to the next support level at $16.20. Now, if the price goes above the second support level, the third support stands at $16.08.

Macerich Co. (NYSE: MAC) Key Stats

There are 215,720K outstanding shares of the company, which has a market capitalization of 3.56 billion. As of now, sales total 884,070 K while income totals -274,070 K. Its latest quarter income was 215,520 K while its last quarter net income were 252,010 K.