In a filing, Meritage Homes Corp revealed its Director Michael R. Odell unloaded Company’s shares for reported $1.0 million on Aug 23 ’24. In the deal valued at $200.00 per share,5,000 shares were sold. As a result of this transaction, Michael R. Odell now holds 22,750 shares worth roughly $3.52 million.
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Then, Michael R. Odell bought 5,000 shares, generating $999,280 in total proceeds.
Before that, Sferruzza Hilla sold 2,500 shares. Meritage Homes Corp shares valued at $512,500 were divested by the Chief Financial Officer at a price of $205.00 per share. As a result of the transaction, Sferruzza Hilla now holds 44,570 shares, worth roughly $6.89 million.
JP Morgan downgraded its Meritage Homes Corp [MTH] rating to a Neutral from a an Overweight in a research note published on December 13, 2024; the price target was decreased to $197 from $220. A number of analysts have revised their coverage, including Raymond James’s analysts, who decreased its forecast for the stock in early November from “an Outperform” to “a Mkt perform”. Goldman also remained covering MTH and has increased its forecast on October 31, 2024 with a “Buy” recommendation from previously “Neutral” rating. Wedbush revised its rating on October 15, 2024. It rated MTH as “a Neutral” which previously was an “an Underperform”.
Price Performance Review of MTH
On Friday, Meritage Homes Corp [NYSE:MTH] saw its stock jump 1.78% to $154.61. Over the last five days, the stock has lost -8.21%. Meritage Homes Corp shares have fallen nearly -11.25% since the year began. Nevertheless, the stocks have fallen -9.73% over the past one year. While a 52-week high of $213.98 was reached on 09/19/24, a 52-week low of $147.77 was recorded on 02/20/24. SMA at 50 days reached $183.27, while 200 days put it at $179.38.
Levels Of Support And Resistance For MTH Stock
The 24-hour chart illustrates a support level at 151.90, which if violated will result in even more drops to 149.18. On the upside, there is a resistance level at 156.45. A further resistance level may holdings at 158.28. The Relative Strength Index (RSI) on the 14-day chart is 28.05, which indicates oversold technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -18.85, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 90.00%. Stochastics %K at 5.28% indicates the stock is a buying.
How much short interest is there in Meritage Homes Corp?
A steep rise in short interest was recorded in Meritage Homes Corp stocks on 2024-11-29, dropping by 52467.0 shares to a total of 1.27 million shares. Yahoo Finance data shows the prior-month short interest on 2024-10-31 was 1.32 million shares. There was a decline of -4.13%, which implies that there is a negative sentiment for the stock.
