Tanger Inc. (NYSE: SKT) is -2.42% lower on its value in year-to-date trading and has touched a low of $18.00 and a high of $29.98 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The SKT stock was last observed hovering at around $27.07 in the last trading session, with the day’s loss setting it -0.02%.
Currently trading at $27.05, the stock is -5.05% and -4.19% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 0.71 million and changing -0.07% at the moment leaves the stock 6.59% off its SMA200. SKT registered 38.86% gain for a year compared to 6-month gain of 17.25%. The firm has a 50-day simple moving average (SMA 50) of $9.60 and a 200-day simple moving average (SMA200) of $17.10.
3 Tiny Stocks Primed to Explode
The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.
We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.
Click here for full details and to join for free
Sponsored
The stock witnessed a -7.43% loss in the last 1 month and extending the period to 3 months gives it a -1.13%, and is -1.53% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 1.86% over the week and 2.04% over the month.
Tanger Inc. (SKT) has around 364 employees, a market worth around $2.95B and $464.35M in sales. Current P/E ratio is 29.37 and Fwd P/E is 30.48. Profit margin for the company is 21.15%. Distance from 52-week low is 50.28% and -9.77% from its 52-week high. The company has generated returns on investments over the last 12 months (4.65%).
Tanger Inc. quarterly earnings per share for the current quarter are estimated at $0.19 with sales reaching $122.8M over the same period.The EPS is expected to shrink by -13.97% this year, but quarterly earnings will post 7.00% year-over-year. Quarterly sales are estimated to grow 12.70% in year-over-year returns.
437 institutions hold shares in Tanger Inc. (SKT), with institutional investors hold 89.86% of the company’s shares. The shares outstanding are 108.79M, and float is at 105.93M with Short Float at 4.21%. Institutions hold 87.68% of the Float.
The top institutional shareholder in the company is Blackrock Inc. with over 18.89 million shares valued at $416.88 million. The investor’s holdings represent 17.96% of the SKT Shares outstanding. As of Jun 29, 2023, the second largest holder is Vanguard Group Inc with 17.05 million shares valued at $376.23 million to account for 16.21% of the shares outstanding. The other top investors are State Street Corporation which holds 6.54 million shares representing 6.22% and valued at over $144.31 million, while FMR, LLC holds 3.08% of the shares totaling 3.24 million with a market value of $71.58 million.
Tanger Inc. (SKT) Insider Activity
The most recent transaction is an insider sale by Guerrieri Thomas Joseph JR, the company’s SVP, CAO. SEC filings show that Guerrieri Thomas Joseph JR sold 3,000 shares of the company’s common stock on Mar 12 ’24 at a price of $29.27 per share for a total of $87810.0. Following the sale, the insider now owns 63782.0 shares.
Tanger Inc. disclosed in a document filed with the SEC on Feb 21 ’24 that REDDIN THOMAS (Director) sold a total of 5,000 shares of the company’s common stock. The trade occurred on Feb 21 ’24 and was made at $29.00 per share for $0.14 million. Following the transaction, the insider now directly holds 46602.0 shares of the SKT stock.
Still, SEC filings show that on Dec 04 ’23, TANGER STEVEN B (Executive Chair of the Board) disposed off 150,000 shares at an average price of $26.25 for $3.94 million. The insider now directly holds 901,983 shares of Tanger Inc. (SKT).
