Additionally, the 36-month beta value for MAC is 2.54. 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 2 rating it as “sell.”
The public float for MAC is 223.60M and currently, short sellers hold a 5.79% ratio of that float. The average trading volume of MAC on November 26, 2024 was 1.52M shares.
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MAC) stock’s latest price update
Macerich Co (NYSE: MAC)’s stock price has soared by 3.40 in relation to previous closing price of 20.32. Nevertheless, the company has seen a gain of 7.30% in its stock price over the last five trading days. globenewswire.com reported 2024-11-26 that SANTA MONICA, Calif., Nov. 25, 2024 (GLOBE NEWSWIRE) — The Macerich Company (NYSE: MAC) (the “Company” or “Macerich”) announced today that it has priced an underwritten public offering of 20,000,000 shares of common stock at a price to public of $19.75 per share for expected gross proceeds of approximately $395.0 million. The Company has also granted the underwriters a 30-day option to purchase up to 3,000,000 additional shares of its common stock. This reflects an upsizing of the previously announced offering of 18,000,000 shares of common stock. Subject to customary closing conditions, the offering is expected to close on November 27, 2024.
MAC’s Market Performance
Macerich Co (MAC) has experienced a 7.30% rise in stock performance for the past week, with a 13.81% rise in the past month, and a 33.82% rise in the past quarter. The volatility ratio for the week is 2.14%, and the volatility levels for the past 30 days are at 3.32% for MAC. The simple moving average for the past 20 days is 8.55% for MAC’s stock, with a 28.36% simple moving average for the past 200 days.
Analysts’ Opinion of MAC
Many brokerage firms have already submitted their reports for MAC stocks, with Scotiabank repeating the rating for MAC by listing it as a “Sector Underperform.” The predicted price for MAC in the upcoming period, according to Scotiabank is $14 based on the research report published on May 17, 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 $11, previously predicting the price at $17. The rating they have provided for MAC stocks is “Underweight” according to the report published on May 01st, 2024.
Citigroup gave a rating of “Neutral” to MAC, setting the target price at $17 in the report published on March 22nd of the current year.
MAC Trading at 13.33% 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 able to rebound, for now settling with 2.89% of gains for the given period.
Volatility was left at 3.32%, however, over the last 30 days, the volatility rate increased by 2.14%, as shares surge +13.41% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +26.40% upper at present.
During the last 5 trading sessions, MAC rose by +7.10%, which changed the moving average for the period of 200-days by +22.49% in comparison to the 20-day moving average, which settled at $19.35. In addition, Macerich Co saw 36.16% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at MAC starting from O’Hern Living Trust U/A/D 11-2, who proposed sale 57,200 shares at the price of $19.50 back on Nov 12 ’24. After this action, O’Hern Living Trust U/A/D 11-2 now owns shares of Macerich Co, valued at $1,115,400 using the latest closing price.
Volk Kenneth, the EVP, Business Development of Macerich Co, purchase 5,000 shares at $15.40 during a trade that took place back on May 10 ’24, which means that Volk Kenneth is holding 51,924 shares at $77,025 based on the most recent closing price.
Stock Fundamentals for MAC
Current profitability levels for the company are sitting at:
- 0.32 for the present operating margin
- 0.39 for the gross margin
The net margin for Macerich Co stands at 0.09. The total capital return value is set at 0.04. Equity return is now at value 3.16, with 1.03 for asset returns.
Based on Macerich Co (MAC), the company’s capital structure generated 0.63 points at debt to capital in total, while cash flow to debt ratio is standing at 0.08. The debt to equity ratio resting at 1.73. The interest coverage ratio of the stock is 2.17.
Currently, EBITDA for the company is 190.72 million with net debt to EBITDA at 7.15. When we switch over and look at the enterprise to sales, we see a ratio of 10.16. The receivables turnover for the company is 6.65for trailing twelve months and the total asset turnover is 0.12.
Conclusion
In conclusion, Macerich Co (MAC) has seen better 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 is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
