Macerich Co (NYSE:MAC) shares traded 1.05% higher at $21.15 on Wall Street last session.
MAC stock price is now 13.55% away from the 50-day moving average and 29.05% away from the 200-day moving average. The market capitalization of the company currently stands at $5.46B.
Top 5 Artificial Intelligence Stocks to Buy for 2024
By now, you're well aware of the artificial intelligence boom. You know Big Tech has been investing billions of dollars into it.
According to Next Move Strategy Consulting, the AI market – currently valued at about $100 billion – cold grow twenty-fold by 2030 to more than $2 trillion. That means you may want to strongly consider these top AI stocks. Get our free report, "Top 5 AI Stocks to Buy in 2024."
Click here to automatically get the our FREE Report & Special Offer "5 Best AI Stocks to Invest In"
Sponsored
With the price target reduced from $16 to $14, Scotiabank Downgraded its rating from Sector Perform to Sector Underperform for Macerich Co (NYSE: MAC). On May 01, 2024, Piper Sandler Downgraded its previous ‘Neutral’ rating to ‘Underweight’ on the stock reducing its target price from $17 to quote $11, while ‘Citigroup’ rates the stock as ‘Neutral’
In other news, O’Hern Living Trust U/A/D 11-2, Thomas O’Hern TTEE O’Hern Liv bought 57,200 shares of the company’s stock on Nov 12 ’24. The stock was bought for $1,115,400 at an average price of $19.50. An SEC document containing details of the transaction can be found on the SEC’s website. On May 10 ’24, EVP, Business Development Volk Kenneth bought 5,000 shares of the business’s stock. A total of $77,025 was incurred on buying the stock at an average price of $15.40. This leaves the insider owning 51,924 shares of the company worth $1.1 million. A total of 0.86% of the company’s stock is owned by insiders.
During the past 12 months, Macerich Co has had a low of $10.75 and a high of $21.40. The fifty day moving average price for MAC is $18.5378 and a two-hundred day moving average price translates $16.36725 for the stock.
The latest earnings results from Macerich Co (NYSE: MAC) was released for 2024-09-30. The net profit margin was -21.96% and return on equity was 3.16% for MAC. The company reported revenue of $220.22 million for the quarter, compared to $218.15 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 0.95 percent.
