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Macerich - Government Trades

Macerich

The Macerich Company invests in premium mall assets. The company owns 28 regional malls in its consolidated portfolio and 14 regional malls in its unconsolidated portfolio along with three power centers and seven other real estate assets. The company's total portfolio has 45.5 million square feet of gross leasable area and averaged $836 sales per square foot over the 12 months ended in December 2023.

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Macerich Co (NYSE: MAC) downgraded &amp; reduced price target by Piper Sandler. Reported Q1 sales of $208.783M &amp; FFO of $0.33. New CEO appointed &amp; withdrew FY24 guidance. Analyst skeptical of turnaround strategy, lowers FFO estimates for FY24 &amp; FY25.

Analyst Doubts Macerich&#39;s New CEO Strategy, Can They Turn Things Around?

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Macerich Co

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Compass Point analyst Floris Van Dijkum maintains Macerich (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MAC#NYSE">MAC</a>) with a Buy and raises the price target from $20 to $23.

Compass Point Maintains Buy on Macerich, Raises Price Target to $23

Macerich (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MAC#NYSE">MAC</a>) reported quarterly earnings of $0.36 per share which missed the analyst consensus estimate of $0.40 by 10 percent. The company reported quarterly sales of $220.224 million which beat the analyst consensus estimate of $213.571 million by 3.12 percent. This is a 0.95 percent increase over sales of $218.152 million the same period last year.

Earnings

Earnings Beats

Earnings Misses

Macerich Q3 2024 FFO $0.36 Misses $0.40 Estimate, Sales $220.224M Beat $213.571M Estimate

Scott Kingsmore, the current Chief Financial Officer, will transition to the role of Senior Advisor effective November 16, 2024 and remain with the Company through December 31, 2024 to assist in the transition.

Management

Macerich Names Daniel Swanstrom As CFO, Effective November 16, 2024

Macerich (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MAC#NYSE">MAC</a>) will release its quarterly earnings report on Wednesday, 2024-11-06. Here's a brief overview for investors ahead of the announcement.
Analysts anticipate Macerich to report an earnings per share (EPS) of $0.40.
The announcement from Macerich is eagerly anticipated, with investors seeking news of surpassing estimates and favorable guidance for the next quarter.
It's worth noting for new investors that guidance can be a key determinant of stock price movements.
<h3>Historical Earnings Performance</h3>
In the previous earnings release, the company missed EPS by $0.03, leading to a 3.12% drop in the share price the following trading session.
Here's a look at Macerich's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q2 2024</th>
<th>Q1 2024</th>
<th>Q4 2023</th>
<th>Q3 2023</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>0.40</td>
<td>0.39</td>
<td></td>
<td></td>
</tr>
<tr>
<td>EPS Actual</td>
<td>0.37</td>
<td>0.31</td>
<td>0.56</td>
<td>0.44</td>
</tr>
<tr>
<td>Price Change %</td>
<td>-3.0%</td>
<td>-2.0%</td>
<td>1.0%</td>
<td>1.0%</td>
</tr>
</tbody>
</table>

<h3>Macerich Share Price Analysis</h3>
Shares of Macerich were trading at $18.67 as of November 01. Over the last 52-week period, shares are up 82.68%. Given that these returns are generally positive, long-term shareholders are likely bullish going into this earnings release. 
<h3>Analyst Observations about Macerich</h3>
For investors, grasping market sentiments and expectations in the industry is vital. This analysis explores the latest insights regarding Macerich.
Macerich has received a total of 4 ratings from analysts, with the consensus rating as Neutral. With an average one-year price target of $15.9, the consensus suggests a potential 14.84% downside.
<h3>Analyzing Analyst Ratings Among Peers</h3>
The below comparison of the analyst ratings and average 1-year price targets of Tanger, Phillips Edison and Acadia Realty Trust, three prominent players in the industry, gives insights for their relative performance expectations and market positioning.
<ul>
<li>The consensus outlook from analysts is an Neutral trajectory for Tanger, with an average 1-year price target of $32.5, indicating a potential 74.08% upside.</li>
<li>Phillips Edison is maintaining an Neutral status according to analysts, with an average 1-year price target of $36.67, indicating a potential 96.41% upside.</li>
<li>The consensus among analysts is an Neutral trajectory for Acadia Realty Trust, with an average 1-year price target of $24.33, indicating a potential 30.32% upside.</li>
</ul>
<h3>Peer Analysis Summary</h3>
In the peer analysis summary, key metrics for Tanger, Phillips Edison and Acadia Realty Trust are highlighted, providing an understanding of their respective standings within the industry and offering insights into their market positions and comparative performance.

<table>
<thead>
<tr>
<th>Company</th>
<th>Consensus</th>
<th>Revenue Growth</th>
<th>Gross Profit</th>
<th>Return on Equity</th>
</tr>
</thead>
<tbody>
<tr>
<td>Macerich</td>
<td>Neutral</td>
<td>1.48%</td>
<td>$116.03M</td>
<td>10.52%</td>
</tr>
<tr>
<td>Tanger</td>
<td>Neutral</td>
<td>16.55%</td>
<td>$91.41M</td>
<td>4.44%</td>
</tr>
<tr>
<td>Phillips Edison</td>
<td>Neutral</td>
<td>8.56%</td>
<td>$118.43M</td>
<td>0.51%</td>
</tr>
<tr>
<td>Acadia Realty Trust</td>
<td>Neutral</td>
<td>7.81%</td>
<td>$62.21M</td>
<td>0.44%</td>
</tr>
</tbody>
</table>

Key Takeaway:
Macerich ranks at the top for Gross Profit and Return on Equity among its peers. It is in the middle for Revenue Growth.
<h3>About Macerich</h3>
The Macerich Company invests in premium mall assets. The company owns 28 regional malls in its consolidated portfolio and 14 regional malls in its unconsolidated portfolio along with three power centers and seven other real estate assets. The company's total portfolio has 45.5 million square feet of gross leasable area and averaged $836 sales per square foot over the 12 months ended in December 2023.
<h3>Financial Milestones: Macerich's Journey</h3>
Market Capitalization Perspectives: The company's market capitalization falls below industry averages, signaling a relatively smaller size compared to peers. This positioning may be influenced by factors such as perceived growth potential or operational scale.
Revenue Growth: Macerich's remarkable performance in 3 months is evident. As of 30 June, 2024, the company achieved an impressive revenue growth rate of 1.48%. This signifies a substantial increase in the company's top-line earnings. As compared to competitors, the company encountered difficulties, with a growth rate lower than the average among peers in the Real Estate sector.
Net Margin: Macerich's financial strength is reflected in its exceptional net margin, which exceeds industry averages. With a remarkable net margin of 116.93%, the company showcases strong profitability and effective cost management.
Return on Equity (ROE): Macerich's ROE stands out, surpassing industry averages. With an impressive ROE of 10.52%, the company demonstrates effective use of equity capital and strong financial performance.
Return on Assets (ROA): Macerich's ROA excels beyond industry benchmarks, reaching 3.33%. This signifies efficient management of assets and strong financial health.
Debt Management: Macerich's debt-to-equity ratio is below the industry average. With a ratio of 1.85, the company relies less on debt financing, maintaining a healthier balance between debt and equity, which can be viewed positively by investors.
<a href="https://www.benzinga.com/quote/MAC/earnings">To track all earnings releases for Macerich visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Insights into Macerich's Upcoming Earnings

Ratings for Macerich (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MAC#NYSE">MAC</a>) were provided by 4 analysts in the past three months, showcasing a mix of bullish and bearish perspectives.
The table below provides a snapshot of their recent ratings, showcasing how sentiments have evolved over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Insights from analysts' 12-month price targets are revealed, presenting an average target of $15.9, a high estimate of $19.00, and a low estimate of $14.00. Surpassing the previous average price target of $14.00, the current average has increased by 13.57%.
<img src="https://www.benzinga.com/files/images/story/2024/1728673271_0.png" alt="price target chart" />
<h2>Breaking Down Analyst Ratings: A Detailed Examination</h2>
The analysis of recent analyst actions sheds light on the perception of Macerich by financial experts. The following summary presents key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Jeffrey Spector</td>
<td>B of A Securities</td>
<td>Raises</td>
<td>Neutral</td>
<td>$19.00</td>
<td>$17.00</td>
</tr>
<tr>
<td>Caitlin Burrows</td>
<td>Goldman Sachs</td>
<td>Raises</td>
<td>Sell</td>
<td>$14.60</td>
<td>$13.00</td>
</tr>
<tr>
<td>Alexander Goldfarb</td>
<td>Piper Sandler</td>
<td>Raises</td>
<td>Underweight</td>
<td>$14.00</td>
<td>$11.00</td>
</tr>
<tr>
<td>Samir Khanal</td>
<td>Evercore ISI Group</td>
<td>Raises</td>
<td>In-Line</td>
<td>$16.00</td>
<td>$15.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts frequently update their recommendations based on evolving market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Macerich. This information provides a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Providing a comprehensive analysis, analysts offer qualitative assessments, ranging from 'Outperform' to 'Underperform'. These ratings reflect expectations for the relative performance of Macerich compared to the broader market.</li>
<li>Price Targets: Analysts set price targets as an estimate of a stock's future value. Comparing the current and prior price targets provides insight into how analysts' expectations have changed over time. This information can be valuable for investors seeking to understand consensus views on the stock's potential future performance.</li>
</ul>
Capture valuable insights into Macerich's market standing by understanding these analyst evaluations alongside pertinent financial indicators. Stay informed and make strategic decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/MAC/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Macerich analyst ratings.</a>
<h2>All You Need to Know About Macerich</h2>
The Macerich Company invests in premium mall assets. The company owns 28 regional malls in its consolidated portfolio and 14 regional malls in its unconsolidated portfolio along with three power centers and seven other real estate assets. The company's total portfolio has 45.5 million square feet of gross leasable area and averaged $836 sales per square foot over the 12 months ended in December 2023.
<h3>Understanding the Numbers: Macerich's Finances</h3>
Market Capitalization Analysis: The company exhibits a lower market capitalization profile, positioning itself below industry averages. This suggests a smaller scale relative to peers.
Revenue Growth: Over the 3 months period, Macerich showcased positive performance, achieving a revenue growth rate of 1.48% as of 30 June, 2024. This reflects a substantial increase in the company's top-line earnings. When compared to others in the Real Estate sector, the company faces challenges, achieving a growth rate lower than the average among peers.
Net Margin: The company's net margin is a standout performer, exceeding industry averages. With an impressive net margin of 116.93%, the company showcases strong profitability and effective cost control.
Return on Equity (ROE): Macerich's ROE excels beyond industry benchmarks, reaching 10.52%. This signifies robust financial management and efficient use of shareholder equity capital.
Return on Assets (ROA): Macerich's ROA surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 3.33% ROA, the company effectively utilizes its assets for optimal returns.
Debt Management: Macerich's debt-to-equity ratio is below industry norms, indicating a sound financial structure with a ratio of 1.85.
<h2>The Significance of Analyst Ratings Explained</h2>
Analyst ratings serve as essential indicators of stock performance, provided by experts in banking and financial systems. These specialists diligently analyze company financial statements, participate in conference calls, and engage with insiders to generate quarterly ratings for individual stocks.
Analysts may enhance their evaluations by incorporating forecasts for metrics like growth estimates, earnings, and revenue, delivering additional guidance to investors. It is vital to acknowledge that, although experts in stocks and sectors, analysts are human and express their opinions when providing insights.
Which Stocks Are Analysts Recommending Now?
Benzinga Edge gives you instant access to all major analyst upgrades, downgrades, and price targets. Sort by accuracy, upside potential, and more. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=be8be9arja3be22bz21&amp;utm_source=benzinga-insights">Click here to stay ahead of the market</a>.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

A Closer Look at 4 Analyst Recommendations For Macerich

B of A Securities analyst Jeffrey Spector maintains Macerich (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MAC#NYSE">MAC</a>) with a Neutral and raises the price target from $17 to $19.

B of A Securities Maintains Neutral on Macerich, Raises Price Target to $19

As of Sept. 30, 2024, four stocks in the real estate sector could be flashing a real warning to investors who value momentum as a key criteria in their trading decisions.
The RSI is a momentum indicator, which compares a stock&#8217;s strength on days when prices go up to its strength on days when prices go down. When compared to a stock&#8217;s price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered overbought when the <a href="https://www.benzinga.com/topic/rsi">RSI is above 70</a>, according to <a href="https://pro.benzinga.com/">Benzinga Pro</a>. 
Here's the latest list of major overbought players in this sector.
<h3 class="wp-block-heading">KE Holdings Inc &#8211; ADR (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BEKE#NYSE">BEKE</a>)</h3>
<ul>
<li>On Aug. 12, KE Holdings reported better-than-expected second-quarter financial results and increased its repurchase authorization. The company's stock gained around 37% over the past five days and has a <a href="https://www.benzinga.com/quote/BEKE">52-week high of $20.48</a>.</li>
<li>RSI Value: 81.63&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</li>
<li>BEKE Price Action: Shares of KE Holdings gained 1.6% to close at $20.00 on Friday.</li>
</ul>
<h3 class="wp-block-heading">Uniti Group Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UNIT#NASDAQ">UNIT</a>)</h3>
<ul>
<li>On Sept. 27, Uniti Group announced $800 million windstream notes as part of post-merger debt restructuring. The company's stock gained around 34% over the past month and <a href="https://www.benzinga.com/quote/UNIT">has a 52-week high</a> of $6.71.</li>
<li>RSI Value: 78.03</li>
<li>UNIT Price Action: Shares of Uniti Group rose 7.6% to close at $5.84 on Friday.</li>
</ul>
<h3 class="wp-block-heading">Macerich Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MAC#NYSE">MAC</a>)</h3>
<ul>
<li>On Sept. 19, Goldman Sachs analyst Caitlin Burrows maintained Macerich with a Sell and raised the price target from $13 to $14.6. The company's stock gained around 18% over the past month and has a <a href="https://www.benzinga.com/quote/MAC">52-week high </a>of $18.04.</li>
<li>RSI Value: 77.29</li>
<li>MAC Price Action: Shares of Macerich gained 3.3% to close at $17.95 on Friday.</li>
</ul>
<h3 class="wp-block-heading">American Healthcare REIT Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AHR#NYSE">AHR</a>)</h3>
<ul>
<li>On Sept. 24, American Healthcare REIT acquired remaining 24% membership interest in Trilogy REIT Holdings for purchase price of $258 million. The company's stock jumped around 24% over the past month and has a 52-week high is $26.77.</li>
<li>RSI Value: 80.83</li>
<li>AHR Price Action: Shares of American Healthcare fell 0.2% to close at $26.12 on Friday. </li>
</ul>
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/24/09/41075978/top-4-materials-stocks-that-may-implode-in-q3">Top 4 Materials Stocks That May Implode In Q3</a></li>
</ul>

Goldman Sachs analyst Caitlin Burrows maintains Macerich (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MAC#NYSE">MAC</a>) with a Sell and raises the price target from $13 to $14.6.

Goldman Sachs Maintains Sell on Macerich, Raises Price Target to $14.6

Piper Sandler analyst Alexander Goldfarb maintains Macerich (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MAC#NYSE">MAC</a>) with a Underweight and raises the price target from $11 to $14.

Piper Sandler Maintains Underweight on Macerich, Raises Price Target to $14

Evercore ISI Group analyst Samir Khanal maintains Macerich (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MAC#NYSE">MAC</a>) with a In-Line and raises the price target from $15 to $16.

Evercore ISI Group Maintains In-Line on Macerich, Raises Price Target to $16

Macerich (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MAC#NYSE">MAC</a>) reported quarterly earnings of $0.39 per share which missed the analyst consensus estimate of $0.40 by 2.5 percent. This is a 2.5 percent decrease over earnings of $0.40 per share from the same period last year. The company reported quarterly sales of $215.521 million which beat the analyst consensus estimate of $205.006 million by 5.13 percent. This is a 1.48 percent increase over sales of $212.374 million the same period last year.

Macerich Q2 2024 FFO Per Share Excluding Financing Expense $0.39 Misses $0.40 Estimate, Sales $215.521M Beat $205.006M Estimate

Goldman Sachs analyst Caitlin Burrows maintains Macerich (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MAC#NYSE">MAC</a>) with a Sell and lowers the price target from $14 to $12.5.

Goldman Sachs Maintains Sell on Macerich, Lowers Price Target to $12.5

WIIM

LAMR

Shares of REIT stocks are trading higher amid a drop in Treasury yields following soft May CPI figures.

Macerich&#39;s plan is designed to:
<ul>
<li>Deleverage the capital structure to a&nbsp;low-to-mid 6x range&nbsp;over the next three to four years.</li>
<li>Invest in and fortify key assets in the portfolio.</li>
<li>Proactively consolidate selected joint venture assets that are core to the overall strategy.</li>
<li>Deliver clean FFO/share launch point of&nbsp;~$1.80/share&nbsp;over the next three to four years.</li>
<li>Improve various internal processes that are being evaluated and realigned to achieve outstanding operational results.</li>
<li>Position the company to take an offensive stance on acquisitions, reinvestment, and selected development.</li>
</ul>

Macerich Unveils Path-Forward Plan; To Invest In And Fortify Key Assets In Portfolio

Scotiabank analyst Greg McGinniss downgrades Macerich (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MAC#NYSE">MAC</a>) from Sector Perform to Sector Underperform and lowers the price target from $16 to $14.

Scotiabank Downgrades Macerich to Sector Underperform, Lowers Price Target to $14

This transaction, which closed on May 14, gives Macerich full ownership of both properties.&nbsp;Additionally, Macerich has executed a contract for the sale of an open-air asset in a major market. The transaction is expected to generate approximately&nbsp;$110,000&nbsp;million of net proceeds based on an expected cap rate of&nbsp;6.5%&nbsp;and is anticipated to close this summer.

Macerich Purchases Remaining 40% Share Of Both Arrowhead Towne Center (Metro Phoenix) And South Plains Mall (Lubbock, Texas) For $36.5M Plus Debt

Although U.S. stocks closed higher on Thursday, there were a few notable insider trades.
When insiders purchase shares, it indicates their confidence in the company&#8217;s prospects or that they view the stock as a bargain. Either way, this signals an opportunity to go long on the stock. Insider purchases should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a buying decision.
Below is a look at a few recent notable insider purchases. For more, check out <a href="https://www.benzinga.com/sec/insider-trades/">Benzinga&#8217;s insider transactions</a> platform.
<h3 class="wp-block-heading">Macerich Company</h3>
<ul>
<li>The Trade: The Macerich Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MAC#NYSE">MAC</a>) CFO Scott W Kingsmore <a href="https://www.benzinga.com/quote/AON/analyst-ratings">acquired a total of 6,000 shares</a> an average price of $16.06. To acquire these shares, it cost around $96,360.</li>
<li>What's Happening: On April 30, Macerich posted better-than-expected first-quarter sales.</li>
<li>What Macerich Does: The Macerich Company is an S&amp;P 500 company that invests in premium mall assets.</li>
</ul>
<h3 class="wp-block-heading">XPEL</h3>
<ul>
<li>The Trade: XPEL, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/XPEL#NASDAQ">XPEL</a>) Director John F North acquired a total of 3,000 shares at an average price of $32.17. To acquire these shares, it cost around $96,510.</li>
<li>What's Happening: On May 2, XPEL posted worse-than-expected first-quarter results.</li>
<li>What XPEL Does: XPEL Inc is a provider of protective films and coatings, including automotive paint protection film, surface protection film, automotive and commercial/residential window films, and ceramic coatings.</li>
</ul>
Don&#8217;t forget to check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a>
PPG Industries
<ul>
<li>The Trade: PPG Industries, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PPG#NYSE">PPG</a>) Chairman and CEO Timothy M Knavish <a href="https://www.benzinga.com/sec/insider-trades/">bought a total of 2,061 shares</a> at an average price of $133.24. To acquire these shares, it cost around $274,615.</li>
<li>What's Happening: On April 18, PPG Industries reported mixed first-quarter financial results.</li>
<li>What PPG Industries Does: PPG is a global producer of coatings.</li>
</ul>
Read More: <a href="https://www.benzinga.com/news/earnings/24/05/38753455/enbridge-funko-and-3-stocks-to-watch-heading-into-friday">Enbridge, Funko And 3 Stocks To Watch Heading Into Friday</a>

Although U.S. stocks closed higher on Monday, there were a few notable insider trades.
When insiders purchase shares, it indicates their confidence in the company&#8217;s prospects or that they view the stock as a bargain. Either way, this signals an opportunity to go long on the stock. Insider purchases should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a buying decision.
Below is a look at a few recent notable insider purchases. For more, check out <a href="https://www.benzinga.com/sec/insider-trades/">Benzinga&#8217;s insider transactions</a> platform.
<h3 class="wp-block-heading">Herbalife</h3>
<ul>
<li>The Trade: Herbalife Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HLF#NYSE">HLF</a>) Director Donal L Mulligan <a href="https://www.benzinga.com/quote/HTLD/analyst-ratings">acquired a total of 45,657 shares</a> at an average price of $9.65. To acquire these shares, it cost around $289,500.</li>
<li>What's Happening: On May 1, Herbalife Nutrition reported better-than-expected first-quarter adjusted EPS.</li>
<li>What Herbalife Does: Herbalife Ltd is an international nutrition company that provides health and wellness products to consumers in 95 markets, which consist of countries and territories, through their direct-selling business model.</li>
</ul>
<h3 class="wp-block-heading">Macerich</h3>
<ul>
<li>The Trade: The Macerich Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MAC#NYSE">MAC</a>) President and CEO Jackson Hsieh acquired a total of 140,000 shares at an average price of $14.26. To acquire these shares, it cost around $2 million.</li>
<li>What's Happening: On April 30, Macerich posted better-than-expected first-quarter sales.</li>
<li>What Macerich Does: The Macerich Company is an S&amp;P 500 company that invests in premium mall assets.</li>
</ul>
Don&#8217;t forget to check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a> 
<h3 class="wp-block-heading">AMREP</h3>
<ul>
<li>The Trade: AMREP Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AXR#NYSE">AXR</a>) 10% owner Rainey E. Lancaster <a href="https://www.benzinga.com/sec/insider-trades/">bought a total of 10,000 shares</a> at an average price of $20.95. To acquire these shares, it cost around $209,500.</li>
<li>What's Happening: On March 8, AMREP reported earnings of 2 cents per share for its 2024 fiscal third quarter, versus year-ago earnings of $3.12 per share.</li>
<li>What AMREP Does: Amrep Corp through its subsidiaries is engaged in the Real estate business.</li>
</ul>
<h3 class="wp-block-heading">Sensata Technologies</h3>
<ul>
<li>The Trade: Sensata Technologies Holding plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ST#NYSE">ST</a>) Director Ali John Mirshekari <a href="https://www.benzinga.com/sec/insider-trades/">bought a total of 268,310 shares</a> at an average price of $39.64. The insider spent around $10.64 million to buy those shares.</li>
<li>What's Happening: On April 29, Sensata Technologies reported better-than-expected first-quarter financial results.</li>
<li>What Sensata Technologies Does: Sensata Technologies is a global supplier of sensors for transportation and industrial applications.</li>
</ul>
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Macerich Form 4 Filing Shows Director, President And CEO Jackson Hsieh Bought 140,000 Shares Of Stock At A Price Of $14.26/Share

The Macerich Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MAC#NYSE">MAC</a>) shares traded lower on Wednesday after Piper Sandler analyst Alexander Goldfarb downgraded the stock from Neutral to Under Weight and lowered the price target <a href="https://www.benzinga.com/quote/MAC/analyst-ratings">from $17 to $11.</a>
On Tuesday, the company reported Q1 sales&nbsp;of $208.783 million, beating the consensus of<a target="_blank" href="https://www.benzinga.com/pressreleases/24/04/g38515692/macerich-reports-first-quarter-2024-results" rel="noreferrer noopener">&nbsp;$205.112 million and FFO of&nbsp;$0.33</a>.
The company welcomed Jackson Hsieh as the new CEO and president <a href="https://www.benzinga.com/calendars/guidance" target="_blank" rel="noreferrer noopener">and withdrew its FY24 guidance</a>.
The analyst writes that they think Hsieh is asking shareholders for another 3–4 years to restructure the company after enduring the same game plan that was executed twice before over the past decade is &#8220;a bridge too far.&#8221;
Goldfarb argues that management is opting not to directly tackle the balance sheet issues. Instead, they plan to pursue growth in Net Operating Income (NOI) through strategies such as leasing, asset givebacks, and a planned injection of just $500 million in equity over the next three to four years.
Consequently, the analyst lowered estimates for FY24 FFO by $0.23 to $1.58 and FY25 by $0.32 to $1.50, which reflects Q1 results, expected $15 million annualized impact of 15 Express store closures, refinancings, and assumption of H2 FY24 dispositions of $400 million and $600 million in FY25. 
Investors can gain exposure to the stock via&nbsp;Invesco S&amp;P SmallCap Financials ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PSCF#NASDAQ">PSCF</a>) and&nbsp;Vanguard S&amp;P Small-Cap 600 Value ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VIOV#NYSE">VIOV</a>).
Price Action: MAC shares closed down 2.18% at $13.46 on Wednesday.
Now Read: <a href="https://www.benzinga.com/markets/equities/24/05/38563545/powell-keeps-hawks-at-bay-says-interest-rate-hike-unlikely-stocks-gold-rally-while-treasury-yiel">Powell Keeps Hawks At Bay, Says Interest Rate Hike &#8216;Unlikely&#8217;: Stocks, Gold Rally, While Treasury Yields, Dollar Tumble</a>
Photo: Shutterstock

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