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Monitoring Meritage Homes Corp. (MTH) after recent insider movements

In a filing, Meritage Homes Corp. revealed its Chief Executive Officer Lord Phillippe unloaded Company’s shares for reported $0.41 million on Mar 13 ’24. In the deal valued at $162.79 per share,2,500 shares were sold. As a result of this transaction, Lord Phillippe now holds 100,266 shares worth roughly $18.23 million.

Then, Lord Phillippe sold 18,119 shares, generating $2,866,820 in total proceeds. Upon selling the shares at $158.22, the Chief Executive Officer now owns 102,766 shares.

Before that, HILTON STEVEN J sold 4,705 shares. Meritage Homes Corp. shares valued at $745,243 were divested by the Executive Chairman at a price of $158.39 per share. As a result of the transaction, HILTON STEVEN J now holds 388,971 shares, worth roughly $70.72 million.

Wedbush downgraded its Meritage Homes Corp. [MTH] rating to an Underperform from a a Neutral in a research note published on April 02, 2024; the price target was decreased to $148 from $155. A number of analysts have revised their coverage, including Seaport Research Partners’s analysts, who decreased its forecast for the stock in late January from “a Buy” to “a Neutral”. Wedbush also remained covering MTH and has decreased its forecast on December 18, 2023 with a “Neutral” recommendation from previously “an Outperform” rating. Seaport Research Partners revised its rating on November 02, 2023. It rated MTH as “a Buy” which previously was an “a Neutral”.

Price Performance Review of MTH

On Tuesday, Meritage Homes Corp. [NYSE:MTH] saw its stock jump 0.96% to $181.81. Over the last five days, the stock has gained 0.68%. Meritage Homes Corp. shares have risen nearly 4.37% since the year began. Nevertheless, the stocks have risen 43.91% over the past one year. While a 52-week high of $183.78 was reached on 05/07/24, a 52-week low of $109.23 was recorded on 02/20/24. SMA at 50 days reached $164.16, while 200 days put it at $149.15. A total of 0.21 million shares were traded, compared to the trading of 0.23 million shares in the previous session.

Levels Of Support And Resistance For MTH Stock

The 24-hour chart illustrates a support level at 180.66, which if violated will result in even more drops to 179.50. On the upside, there is a resistance level at 182.62. A further resistance level may holdings at 183.42. The Relative Strength Index (RSI) on the 14-day chart is 68.33, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 6.00, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 7.84%. Stochastics %K at 89.54% indicates the stock is a selling.

The most recent change occurred on June 14, 2023 when Seaport Research Partners began covering the stock and recommended ‘”a Neutral”‘ rating.

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