Macerich Company (The) Target of Unusually High Options Trading (MAC)

Macerich Company (The) (NYSE:MAC) was the recipient of some unusual options trading activity on Wednesday. Stock traders bought 13,427 call options on the stock. This represents an increase of 957% compared to the average daily volume of 1,270 call options.

In related news, CEO Arthur M. Coppola sold 100,000 shares of the company’s stock in a transaction on Friday, June 30th. The shares were sold at an average price of $58.13, for a total transaction of $5,813,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.75% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Pacer Advisors Inc. increased its position in Macerich Company (The) by 3.1% in the first quarter. Pacer Advisors Inc. now owns 2,571 shares of the real estate investment trust’s stock worth $166,000 after buying an additional 77 shares during the period. Advisory Services Network LLC bought a new position in Macerich Company (The) during the first quarter worth approximately $167,000. BB&T Securities LLC bought a new position in Macerich Company (The) during the first quarter worth approximately $234,000. Sawtooth Solutions LLC bought a new position in Macerich Company (The) during the first quarter worth approximately $244,000. Finally, Fox Run Management L.L.C. bought a new position in Macerich Company (The) during the second quarter worth approximately $273,000. 94.62% of the stock is owned by institutional investors and hedge funds.

MAC has been the subject of several research analyst reports. BTIG Research reiterated a “buy” rating and set a $82.00 target price on shares of Macerich Company (The) in a research note on Monday, April 3rd. Barclays PLC cut their target price on shares of Macerich Company (The) from $66.00 to $63.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 19th. BidaskClub upgraded shares of Macerich Company (The) from a “sell” rating to a “hold” rating in a research note on Thursday, July 6th. Deutsche Bank AG cut their target price on shares of Macerich Company (The) to $65.00 and set a “hold” rating for the company in a research note on Tuesday, March 21st. Finally, Canaccord Genuity cut their target price on shares of Macerich Company (The) from $77.00 to $71.00 and set a “hold” rating for the company in a research note on Monday, March 27th. Four equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $72.20.

Shares of Macerich Company (NYSE MAC) opened at 59.05 on Tuesday. The firm has a market cap of $8.37 billion, a PE ratio of 51.80 and a beta of 0.77. The company’s 50 day moving average is $58.25 and its 200-day moving average is $64.52. Macerich Company has a 12 month low of $56.06 and a 12 month high of $94.51.

Macerich Company (The) (NYSE:MAC) last posted its quarterly earnings results on Thursday, April 27th. The real estate investment trust reported $0.87 EPS for the quarter, beating the Zacks’ consensus estimate of $0.84 by $0.03. The business had revenue of $219.90 million during the quarter, compared to the consensus estimate of $222.65 million. Macerich Company (The) had a return on equity of 3.72% and a net margin of 16.01%. Macerich Company (The)’s revenue for the quarter was down 6.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.87 earnings per share. Equities research analysts predict that Macerich Company will post $0.98 EPS for the current year.

ILLEGAL ACTIVITY WARNING: “Macerich Company (The) Target of Unusually High Options Trading (MAC)” was first published by Sports Perspectives and is owned by of Sports Perspectives. If you are accessing this news story on another site, it was illegally copied and reposted in violation of international trademark & copyright legislation. The correct version of this news story can be viewed at https://sportsperspectives.com/2017/07/18/macerich-company-the-sees-unusually-large-options-volume-mac-updated.html.

Macerich Company (The) Company Profile

The Macerich Company is a self-administered and self-managed real estate investment trust (REIT). The Company is involved in the acquisition, ownership, development, redevelopment, management and leasing of regional and community/power shopping centers located throughout the United States. The Company owns ownership interests in, The Macerich Partnership, L.P.

Receive News & Ratings for Macerich Company (The) Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Macerich Company (The) and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply