$MAC.US Ranked Positive On May 9th, 2024

Smart Insider $MAC.US Ranked Positive On May 9th, 2024

$MAC.US Ranked Positive On May 9th, 2024

Macerich Co (MAC US, +1, 09-May-24)

Three officers bought in total US$ 2.2 million worth of stock from May 6th –¬†8th at an average price of $14.35.¬†

Jackson Hsieh (Chief Executive Officer since 2024) made a large first purchase of $2 million. Before joining the company he served as President & CEO of Spirit Realty Capital, Inc. until its merger with Realty Income Corp (O) in January 2024. 

Doug Healey (SEVP, Head of Leasing since 2020, joined 2005) bought $114,000 worth of stock at $15.20, increasing his holding by 11%. He last bought the stock at $8.92 in September 2022. 

Ann Menard¬†(Chief Legal Officer & Co-Secretary since 2018) bought $75,000 worth of stock at $15.41,¬†increasing her holding by 31%. Her last buy was at $8.94 in September 2022. It’s interesting to see significant¬†investment from the newly appointed CEO supported by long-term officers, who are buying in decent size, and paying¬†their highest price.¬†

Both recent sellers, Thomas O’Hern and Edward Coppola, are not standing for re-election at the AGM on May 30th. The company reported earnings results on April 30th. 

We are ranking the stock +1.

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