The stock price of Macerich Co. (NYSE: MAC) has dropped by -7.15 compared to previous close of 16.01. Despite this, the company has seen a fall of -7.90% in its stock price over the last five trading days. Zacks Investment Research reported 2024-04-30 that Although the revenue and EPS for Macerich (MAC) give a sense of how its business performed in the quarter ended March 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.
Is It Worth Investing in Macerich Co. (NYSE: MAC) Right Now?
Additionally, the 36-month beta value for MAC is 2.41. There are mixed opinions on the stock, with 4 analysts rating it as a “buy,” 1 rating it as “overweight,” 13 rating it as “hold,” and 1 rating it as “sell.”
The public float for MAC is 214.21M and currently, short sellers hold a 5.64% ratio of that float. The average trading volume of MAC on April 30, 2024 was 1.97M shares.
MAC’s Market Performance
MAC’s stock has seen a -7.90% decrease for the week, with a -11.47% drop in the past month and a -7.79% fall in the past quarter. The volatility ratio for the week is 3.06%, and the volatility levels for the past 30 days are at 3.00% for Macerich Co. The simple moving average for the past 20 days is -6.29% for MAC’s stock, with a 8.95% simple moving average for the past 200 days.
Analysts’ Opinion of MAC
Many brokerage firms have already submitted their reports for MAC stocks, with Citigroup repeating the rating for MAC by listing it as a “Neutral.” The predicted price for MAC in the upcoming period, according to Citigroup is $17 based on the research report published on March 22, 2024 of the current year 2024.
Piper Sandler, on the other hand, stated in their research note that they expect to see MAC reach a price target of $12, previously predicting the price at $11. The rating they have provided for MAC stocks is “Neutral” according to the report published on October 02nd, 2023.
Goldman gave a rating of “Sell” to MAC, setting the target price at $8.50 in the report published on March 21st of the previous year.
MAC Trading at -8.84% from the 50-Day Moving Average
After a stumble in the market that brought MAC to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -15.97% of loss for the given period.
Volatility was left at 3.00%, however, over the last 30 days, the volatility rate increased by 3.06%, as shares sank -7.64% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -13.01% lower at present.
During the last 5 trading sessions, MAC fell by -7.19%, which changed the moving average for the period of 200-days by +27.38% in comparison to the 20-day moving average, which settled at $15.80. In addition, Macerich Co. saw -3.66% in overturn over a single year, with a tendency to cut further losses.
Insider Trading
Reports are indicating that there were more than several insider trading activities at MAC starting from COPPOLA EDWARD C, who sale 75,000 shares at the price of $17.19 back on Mar 28 ’24. After this action, COPPOLA EDWARD C now owns 560,667 shares of Macerich Co., valued at $1,289,250 using the latest closing price.
COPPOLA EDWARD C, the Director of Macerich Co., sale 20,000 shares at $17.01 during a trade that took place back on Mar 27 ’24, which means that COPPOLA EDWARD C is holding 635,667 shares at $340,200 based on the most recent closing price.
Stock Fundamentals for MAC
Current profitability levels for the company are sitting at:
- 0.37 for the present operating margin
- 0.47 for the gross margin
The net margin for Macerich Co. stands at -0.31. The total capital return value is set at 0.05. Equity return is now at value -10.35, with -3.52 for asset returns.
Based on Macerich Co. (MAC), the company’s capital structure generated 0.68 points at debt to capital in total, while cash flow to debt ratio is standing at 0.06. The debt to equity ratio resting at 2.11. The interest coverage ratio of the stock is 1.87.
Currently, EBITDA for the company is 459.94 million with net debt to EBITDA at 14.88. When we switch over and look at the enterprise to sales, we see a ratio of 8.38. The receivables turnover for the company is 4.69for trailing twelve months and the total asset turnover is 0.12.
Conclusion
In conclusion, Macerich Co. (MAC) has seen bad performance in recent times. Analysts have a bullish opinion on the stock, with some rating it as a “buy” and others rating it as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
