Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Meritage Homes Corp shares valued at $1,000,000 were sold by Michael R. Odell on Aug 23 ’24. At $200.00 per share, Michael R. Odell sold 5,000 shares. The insider’s holdings dropped to 22,750 shares worth approximately $4.25 million following the completion of this transaction.
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Also, Michael R. Odell purchased 5,000 shares, netting a total of over 999,280 in proceeds.
Before that, Sferruzza Hilla had sold 2,500 shares from its account. In a trade valued at $512,500, the Chief Financial Officer traded Meritage Homes Corp shares for $205.00 each. Upon closing the transaction, the insider’s holdings decreased to 2,500 shares, worth approximately $8.32 million.
As published in a research note from Goldman on October 31, 2024, Meritage Homes Corp [MTH] has been rated up from a Neutral to a Buy and the price target has been revised to $235 from $205. Analysts at Wedbush upgraded the stock from ‘”an Underperform”‘ to ‘”a Neutral”‘ outlook in a report released in mid October. As of August 14, 2024, Wolfe Research has increased its “Peer perform” rating to a “an Outperform” for MTH. Earlier on August 05, 2024, Seaport Research Partners downgraded its rating. Their new recommendation was “a Sell” for MTH stock which previously was a “a Neutral”.
Analyzing MTH Stock Performance
During the last five days, there has been a surge of approximately 5.13%. Over the course of the year, Meritage Homes Corp shares have jumped approximately 7.15%. Shares of the company reached a 52-week high of $213.98 on 09/19/24 and a 52-week low of $147.77 on 02/20/24. A 50-day SMA is recorded $195.09, while a 200-day SMA reached $175.89. Nevertheless, trading volume fell to 1.02 million shares from 0.37 million shares the previous day.
Support And Resistance Levels for Meritage Homes Corp (MTH)
According to the 24-hour chart, there is a support level at 180.39, which, if violated, would cause prices to drop to 174.12. In the upper region, resistance lies at 190.20. The next price resistance is at 193.74. RSI (Relative Strength Index) is 46.10 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.71, which suggests the price will increase in the coming days. Percent R is at 44.77%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
