Traders Sell Shares of Meritage Homes (MTH) on Strength (MTH)
Investors sold shares of Meritage Homes Corp (NYSE:MTH) on strength during trading hours on Friday. $2.79 million flowed into the stock on the tick-up and $39.95 million flowed out of the stock on the tick-down, for a money net flow of $37.16 million out of the stock. Of all stocks tracked, Meritage Homes had the 0th highest net out-flow for the day. Meritage Homes traded up $0.05 for the day and closed at $43.25
A number of research analysts have weighed in on MTH shares. Citigroup raised shares of Meritage Homes from a “neutral” rating to a “buy” rating and set a $51.00 price target on the stock in a research note on Monday, January 8th. Zacks Investment Research downgraded shares of Meritage Homes from a “hold” rating to a “sell” rating in a report on Tuesday, January 2nd. JMP Securities lifted their price objective on shares of Meritage Homes from $55.00 to $57.00 and gave the company a “market outperform” rating in a report on Friday, February 2nd. Credit Suisse Group upgraded shares of Meritage Homes from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $52.00 to $60.00 in a report on Monday, January 22nd. Finally, Barclays upgraded shares of Meritage Homes from an “underweight” rating to an “equal weight” rating in a report on Friday, February 2nd. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $50.11.
The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.87 and a current ratio of 0.87. The firm has a market capitalization of $1,744.32, a price-to-earnings ratio of 12.61, a PEG ratio of 0.64 and a beta of 1.34.
In related news, Director Robert Gary Sarver sold 12,000 shares of the business’s stock in a transaction on Tuesday, December 12th. The shares were sold at an average price of $50.47, for a total transaction of $605,640.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP C Timothy White sold 7,333 shares of the business’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $45.20, for a total transaction of $331,451.60. Following the transaction, the executive vice president now owns 48,705 shares in the company, valued at $2,201,466. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 20,459 shares of company stock worth $987,987. 5.60% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently modified their holdings of MTH. Earnest Partners LLC increased its holdings in Meritage Homes by 18.7% during the fourth quarter. Earnest Partners LLC now owns 2,080,250 shares of the construction company’s stock worth $106,509,000 after buying an additional 327,413 shares during the last quarter. Renaissance Technologies LLC increased its holdings in Meritage Homes by 2,460.0% during the fourth quarter. Renaissance Technologies LLC now owns 268,800 shares of the construction company’s stock worth $13,763,000 after buying an additional 258,300 shares during the last quarter. BlackRock Inc. increased its holdings in Meritage Homes by 3.3% during the fourth quarter. BlackRock Inc. now owns 5,593,226 shares of the construction company’s stock worth $286,371,000 after buying an additional 176,270 shares during the last quarter. Assenagon Asset Management S.A. acquired a new position in Meritage Homes during the fourth quarter worth $7,404,000. Finally, Millennium Management LLC increased its holdings in Meritage Homes by 8.7% during the fourth quarter. Millennium Management LLC now owns 1,522,867 shares of the construction company’s stock worth $77,971,000 after buying an additional 121,672 shares during the last quarter. Institutional investors and hedge funds own 94.76% of the company’s stock.
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Meritage Homes Company Profile
Meritage Homes Corporation operates as a holding company. The Company is a designer and builder of single-family homes. The Company operates through two segments: homebuilding and financial services. The homebuilding segment is engaged in the business of acquiring and developing land, constructing homes, marketing and selling those homes, and providing warranty and customer services.
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