Macerich Co. (NYSE:MAC) saw a downside of -1.22% to close Friday at $11.32 after subtracting -$0.14 on the day. The 5-day average trading volume is 960,340 shares of the company’s common stock. It has gained $12.33 in the past week and touched a new high 2 times within the past 5 days. An average of 1,254,975 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 1,600,624.
MAC’s 1-month performance is 1.07% or $0.24 on its low of $11.02 reached on 08/23/23. The company’s shares have touched a 52-week low of $7.38 and high of $14.51, with the stock’s rally to the 52-week high happening on 02/02/23. YTD, MAC has achieved 0.53% or $0.06 and has reached a new high 14 times. However, the current price is down -21.96% from the 52-week high price.
Insider Transactions
MAC stock investors last saw insider trading activity on Nov 29.Zecchini Christopher J (Chief Accounting Officer) most recently sold 2,000 shares at $12.65 per share on Nov 29. This transaction cost the insider $25,302.
Valuation Metrics
MAC stock has a beta of 2.17. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 2.82 while the price-to-book (PB) in the most recent quarter is 0.89, with the price to cash flow ratio at 5.04.
As well, the company’s long term debt to equity for the quarter ending June 29 was 1.62, while the total debt to equity was 1.66. In terms of profitability, the gross margin trailing 12 months is 21.33%. The firm’s gross profit as reported stood at $150.03 million against revenue of $859.16 million.
Earnings Surprise
For the quarterly period ending June 29 this year, Net income and sales went down compared to those figures reported in the previous quarter. Net income shrunk -2.81% to -$14.96 million, while revenue of -$58.73 million was -292.58% off the previous quarter. Analysts expected MAC to announce -$0.08 per share in earnings in its latest quarter, but it posted -$0.07, representing a 12.50% surprise. EBITDA for the quarter stood at more than $116.62 million. Shareholders hold equity totaling $215.26 million.
Let’s look briefly at Macerich Co. (MAC) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 22 September was 35.92% to suggest the stock is trending Neutral, with historical volatility in this time period at 33.69%.
The stock’s 5-day moving average is $11.69, reflecting a -7.44% or -$0.91 change from its current price. MAC is currently trading +1.89% above its 20-day SMA, +9.80% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by -5.35% and SMA200 by-8.04%.
Stochastic %K and %D was 36.55% and 42.92% and the average true range (ATR) pointed at 0.32. The RSI (14) points at 40.38%, while the 14-day stochastic is at 0.00% with the period’s ATR at 0.33. The stock’s 9-day MACD Oscillator is pointing at -0.28 and -0.27 on the 14-day charts.
