On May 6, 2024, Jackson Hsieh, President and Chief Executive Officer of Macerich Co (MAC, Financial), purchased 140,000 shares of the company, as reported in a recent SEC Filing. This transaction increased the insider's total holdings in the company significantly, reflecting a strong commitment to the company's future.
Macerich Co (MAC, Financial) is a real estate investment trust (REIT) that focuses on the acquisition, leasing, management, development, and redevelopment of regional malls throughout the United States.
The transaction occurred with shares priced at $14.26, valuing the purchase at approximately $1,996,400. Following this transaction, the market cap of Macerich Co stands at $3.17 billion.
Over the past year, the insider transaction history at Macerich Co shows a trend with 1 insider buy and 4 insider sells. The insider, Jackson Hsieh, has been active in the market with a total acquisition of 140,000 shares and no recorded sales.
According to GF Value, the shares of Macerich Co are currently trading at a price-to-GF-Value ratio of 1.18, indicating that the stock is Modestly Overvalued. The GF Value is calculated based on historical multiples such as price-earnings ratio, price-sales ratio, price-book ratio, and price-to-free cash flow, adjusted for expected business performance.
This insider buying activity might be a signal to investors about the executive's confidence in the future direction of Macerich Co, despite the current valuation indicating a modest overvaluation according to the GF Value.
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