Tanger Inc. (NYSE: SKT) is 17.42% higher on its value in year-to-date trading and has touched a low of $21.42 and a high of $32.63 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The SKT stock was last observed hovering at around $32.49 in the last trading session, with the day’s gains setting it 0.06%.
Currently trading at $32.55, the stock is 4.07% and 10.33% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 0.98 million and changing 0.18% at the moment leaves the stock 15.71% off its SMA200. SKT registered 45.44% gain for a year compared to 6-month gain of 10.15%. The firm has a 50-day simple moving average (SMA 50) of $29.5912 and a 200-day simple moving average (SMA200) of $28.1598.
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The stock witnessed a 7.35% loss in the last 1 month and extending the period to 3 months gives it a 20.82%, and is 1.88% up 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 1.37% over the week and 1.79% over the month.
Tanger Inc. (SKT) has around 364 employees, a market worth around $3.56B and $497.15M in sales. Current P/E ratio is 36.23 and Fwd P/E is 36.49. Profit margin for the company is 19.60%. Distance from 52-week low is 52.00% and -0.25% from its 52-week high. The company has generated returns on investments over the last 12 months (4.65%).
The EPS is expected to shrink by -11.71% this year
440.0 institutions hold shares in Tanger Inc. (SKT), with institutional investors hold 90.11% of the company’s shares. The shares outstanding are 108.79M, and float is at 106.72M with Short Float at 3.89%. Institutions hold 87.93% of the Float.
The top institutional shareholder in the company is BLACKROCK INC. with over 20.87 million shares valued at $565.79 million. The investor’s holdings represent 19.2586 of the SKT Shares outstanding. As of 2024-06-30, the second largest holder is VANGUARD GROUP INC with 17.46 million shares valued at $473.23 million to account for 16.108 of the shares outstanding. The other top investors are STATE STREET CORP which holds 6.34 million shares representing 5.8547 and valued at over $172.01 million, while FMR LLC holds 5.2516 of the shares totaling 5.69 million with a market value of $154.29 million.
Tanger Inc. (SKT) Insider Activity
The most recent transaction is an insider sale by Swanson Gallardo Leslie, the company’s EVP, Chief Operating Officer. SEC filings show that Swanson Gallardo Leslie sold 17,900 shares of the company’s common stock on Sep 09 ’24 at a price of $30.74 per share for a total of $0.55 million. Following the sale, the insider now owns 85396.0 shares.
Still, SEC filings show that on Mar 12 ’24, Guerrieri Thomas Joseph JR (SVP, CAO) disposed off 3,000 shares at an average price of $29.27 for $87810.0. The insider now directly holds 63,782 shares of Tanger Inc. (SKT).
