Notable Price Action: Is Selling Stock Like Taubman Centers, Inc. After Such Gap Down a Winning Strategy?

Notable Price Action: Is Selling Stock Like Taubman Centers, Inc. After Such Gap Down a Winning Strategy?

The stock of Taubman Centers, Inc. (NYSE:TCO) gapped down by $0.1 today and has $69.42 target or 5.00% below today’s $73.07 share price. The 7 months technical chart setup indicates high risk for the $4.44B company. The gap down was reported on Oct, 4 by If the $69.42 price target is reached, the company will be worth $222.00 million less.
Gaps down are helpful for identifying a resistance level and to could also be used as a tradeable event. If traders are short the stock and it experiece gap down, then its usually advisable to hold the short for a bigger down move. Back-tests of such patterns show that two-thirds of the these patterns the stock performance worsens after the gap. The area gaps close 91% of the time, the breakaway gaps 1%, the continuation gaps 9% and the exhaustion gaps 64%. The stock decreased 1.80% or $1.34 on October 3, hitting $73.07. Taubman Centers, Inc. (NYSE:TCO) has risen 0.01% since March 1, 2016 and is uptrending. It has underperformed by 12.20% the S&P500.

Analysts await Taubman Centers, Inc. (NYSE:TCO) to report earnings on October, 24. They expect $0.91 EPS, up 5.81% or $0.05 from last year’s $0.86 per share. TCO’s profit will be $55.29M for 20.07 P/E if the $0.91 EPS becomes a reality. After $1.04 actual EPS reported by Taubman Centers, Inc. for the previous quarter, Wall Street now forecasts -12.50% negative EPS growth.

Taubman Centers, Inc. (NYSE:TCO) Ratings Coverage

Out of 11 analysts covering Taubman Centers Inc. (NYSE:TCO), 6 rate it a “Buy”, 1 “Sell”, while 4 “Hold”. This means 55% are positive. Taubman Centers Inc. has been the topic of 15 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The firm has “Buy” rating by Goldman Sachs given on Wednesday, September 28. The firm earned “Neutral” rating on Thursday, September 29 by UBS. The stock of Taubman Centers, Inc. (NYSE:TCO) has “Hold” rating given on Monday, November 16 by Evercore. The stock of Taubman Centers, Inc. (NYSE:TCO) has “Outperform” rating given on Monday, August 24 by Oppenheimer. The firm has “Neutral” rating by BTIG Research given on Thursday, August 25. The rating was downgraded by Jefferies on Tuesday, January 12 to “Underperform”. The stock has “Overweight” rating given by KeyBanc Capital Markets on Monday, September 14. The stock has “Outperform” rating given by Credit Suisse on Wednesday, March 16. Raymond James initiated the stock with “Mkt Perform” rating in Friday, September 18 report. The firm has “Overweight” rating given on Thursday, December 17 by JP Morgan.

According to Zacks Investment Research, “TAUBMAN CENTERS, INC., a real estate investment trust, is the managing general partner of, and owns an interest in, The Taubman Realty Group Limited Partnership (TRG). TRG is an operating partnership that engages in the ownership, operation, management, leasing, acquisition, development, redevelopment, expansion, financing and refinancing of regional retail shopping centers and interest therein.”

Insitutional Activity: The institutional sentiment increased to 1.18 in 2016 Q2. Its up 0.04, from 1.14 in 2016Q1. The ratio improved, as 23 funds sold all Taubman Centers, Inc. shares owned while 80 reduced positions. 24 funds bought stakes while 98 increased positions. They now own 58.01 million shares or 4.06% more from 55.75 million shares in 2016Q1.
Diam Limited holds 0.14% or 129,700 shares in its portfolio. Proshare Advsrs Ltd Limited Liability Company reported 20,667 shares or 0.02% of all its holdings. Oakbrook Invests Ltd Liability, a Illinois-based fund reported 2,925 shares. Asset Mgmt holds 4,433 shares or 0.01% of its portfolio. The Texas-based Hbk Investments L P has invested 0.01% in Taubman Centers, Inc. (NYSE:TCO). Sumitomo Mitsui Trust Holdg Inc accumulated 0.01% or 43,823 shares. Blackrock Fund Advsrs holds 2.42 million shares or 0.04% of its portfolio. Cadence Mgmt Ltd Liability last reported 3,388 shares in the company. Blackrock Incorporated has 94,730 shares for 0.01% of their US portfolio. Swiss National Bank & Trust has invested 0.01% of its portfolio in Taubman Centers, Inc. (NYSE:TCO). Royal State Bank Of Canada holds 0% of its portfolio in Taubman Centers, Inc. (NYSE:TCO) for 24,522 shares. Security Capital & Mgmt Incorporated has invested 0.04% of its portfolio in Taubman Centers, Inc. (NYSE:TCO). Virginia Retirement Sys Et Al holds 0.12% of its portfolio in Taubman Centers, Inc. (NYSE:TCO) for 111,700 shares. Pnc Fin Gp Incorporated last reported 35,717 shares in the company. Jacobs Levy Equity Mngmt Incorporated reported 65,340 shares or 0.1% of all its holdings.

Insider Transactions: Since June 3, 2016, the stock had 0 insider buys, and 1 insider sale for $55,628 net activity. Wolff David A. had sold 794 shares worth $55,628 on Friday, June 3.

Another recent and important Taubman Centers, Inc. (NYSE:TCO) news was published by which published an article titled: “Forget Beijing: Mall Owner Taubman Likes Second Cities” on October 13, 2015.

TCO Company Profile

Taubman Centers, Inc., incorporated on November 21, 1973, is a self-administered and self-managed real estate investment trust (REIT). The Company’s segment is focused on owning, developing and managing regional shopping centers. The Taubman Realty Group Limited Partnership (TRG) is a partnership subsidiary of the Company that owns direct or indirect interests in all of its real estate properties. The Firm owns, leases, acquires, disposes of, develops, expands and manages regional and super-regional shopping centers and interests therein. The Company’s portfolio of operating centers consists of approximately 19 urban and suburban shopping centers in over 10 states and Puerto Rico. The consolidated businesses consist of shopping centers and entities that are controlled by ownership or contractual agreements, The Taubman Company LLC (Manager), and Taubman Properties Asia LLC and its subsidiaries (Taubman Asia).

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