Checking in on Meritage Homes Corporation (MTH) after recent insiders movement


Meritage Homes Corporation’s filing revealed that its Chief Executive Officer Lord Phillippe unloaded Company’s shares for reported $0.59 million on Mar 03. In the deal valued at $110.00 per share,5,400 shares were sold. As a result of this transaction, Lord Phillippe now holds 44,441 shares worth roughly $ 4.86 million.

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Then, OPPEL RAYMOND sold 5,000 shares, generating $551,100 in total proceeds. Upon selling the shares at $110.22, the Director now owns 10,000 shares.

Before that, HILTON STEVEN J sold 23,934 shares. Meritage Homes Corporation shares valued at $2,565,118 were divested by the Executive Chairman at a price of $107.17 per share. As a result of the transaction, HILTON STEVEN J now holds 395,366 shares, worth roughly $43.2 million.

JP Morgan upgraded its Meritage Homes Corporation [MTH] rating to an Overweight from a a Neutral in a research note published on Monday. PT values the company’s stock at a premium of 15.3 to its Monday closing price. A number of analysts have revised their coverage, including KeyBanc Capital Markets’s analysts, who increased its forecast for the stock in mid September from “a Sector weight” to “an Overweight”. Wells Fargo also remained covering MTH and has decreased its forecast on June 17, 2022 with a “an Underweight” recommendation from previously “an Equal weight” rating. Wolfe Research revised its rating on May 13, 2022. It rated MTH as “a Peer perform” which previously was an “an Outperform”.

Price Performance Review of MTH

On Monday, Meritage Homes Corporation [NYSE:MTH] saw its stock fall -0.65% to $109.26. On the same session, the stock had its day’s lowest price of $108.85, but rose to a high of $112.26. Over the last five days, the stock has gained 0.72%. Meritage Homes Corporation shares have risen nearly 18.50% since the year began. Nevertheless, the stocks have risen 10.14% over the past one year. While a 52-week high of $117.22 was reached on 02/02/23, a 52-week low of $62.51 was recorded on 01/03/23. SMA at 50 days reached $104.12, while 200 days put it at $85.86. A total of 0.57 million shares were traded, compared to the trading of 0.42 million shares in the previous session.

Levels Of Support And Resistance For MTH Stock

The 24-hour chart illustrates a support level at 107.99, which if violated will result in even more drops to 106.71. On the upside, there is a resistance level at 111.40. A further resistance level may holdings at 113.53. The Relative Strength Index (RSI) on the 14-day chart is 53.29, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.48, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 57.50%. Stochastics %K at 38.31% indicates the stock is a holding.

How much short interest is there in Meritage Homes Corporation?

A steep rise in short interest was recorded in Meritage Homes Corporation stocks on Jan 30, 2023, dropping by 70000.0 shares to a total of 1.03 million shares. Yahoo Finance data shows the prior-month short interest on Dec 29, 2022 was 1.1 million shares. There was a decline of -6.8%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 4.11% of the overall stock float, the days-to-cover ratio (short ratio) fell to 2.76.

Meritage Homes Corporation [MTH] – Who Are The Largest Shareholders?

In filings from BlackRock Fund Advisors, it is revealed that the company now owns 5,811,860 shares, or roughly 15.89% of the outstanding MTH shares. In other words, the investor’s shares have risen by 85,323 from its previous 13-F filing of 5726537.0. Additionally, The Vanguard Group, Inc. increased 2.49% of its stake after which the total value it holdings stand at $450,066,879, while Dimensional Fund Advisors LP reduced -0.05% of its stake to hold $183.89 million in the firm. Over the last quarter, EARNEST Partners LLC sold -443,724 shares of Meritage Homes Corporation, while SSgA Funds Management, Inc. sold 106,168 shares. At present, T. Rowe Price Investment Manageme is holding 1,382,555 shares valued at $148.89 million. Fisher Asset Management LLC owned 1,133,888 shares of the company at the time of its most recent 13F filing, worth $122.11 million.

According to FactSet, Meritage Homes Corporation’s share price will average $133.00 in the next year, based on opinions of analysts polled by the firm. This is up nearly 18.2 percent from its previous closing price of $109.98. Analysts expect Meritage Homes Corporation stock to reach the higher price of $174.00, while the lowest price estimate is $105.00. However, 10 analysts have rated MTH stock as an Overweight in their predictions for 2023. The most recent change occurred on April 05, 2022 when Credit Suisse began covering the stock and recommended ‘”an Outperform”‘ rating along with a $103 price target.


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