Meritage Homes Corp (NYSE:MTH) Short Interest Down 19.3% in June
Meritage Homes Corp (NYSE:MTH) saw a significant decrease in short interest in June. As of June 30th, there was short interest totalling 1,056,700 shares, a decrease of 19.3% from the May 30th total of 1,309,800 shares. Approximately 3.0% of the company’s stock are short sold. Based on an average daily volume of 328,100 shares, the short-interest ratio is currently 3.2 days.
Several analysts recently issued reports on MTH shares. ValuEngine lowered Intersect ENT from a “buy” rating to a “hold” rating in a report on Monday. Zelman & Associates upgraded Meritage Homes from a “hold” rating to a “buy” rating in a report on Friday, April 12th. Two analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $44.31.
Shares of NYSE:MTH traded up $1.48 during midday trading on Friday, hitting $55.22. 10,887 shares of the stock were exchanged, compared to its average volume of 299,435. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.75. Meritage Homes has a 52-week low of $32.02 and a 52-week high of $53.88. The stock’s fifty day moving average is $51.58. The company has a market cap of $2.08 billion, a P/E ratio of 9.82, a PEG ratio of 1.16 and a beta of 1.08.
In other news, COO Phillippe Lord sold 3,000 shares of the stock in a transaction on Friday, April 26th. The stock was sold at an average price of $50.75, for a total value of $152,250.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Hilla Sferruzza sold 5,300 shares of the stock in a transaction on Friday, April 26th. The shares were sold at an average price of $50.75, for a total value of $268,975.00. The disclosure for this sale can be found here. 6.10% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of MTH. Captrust Financial Advisors raised its holdings in Meritage Homes by 126.0% during the fourth quarter. Captrust Financial Advisors now owns 1,096 shares of the construction company’s stock valued at $40,000 after buying an additional 611 shares in the last quarter. Penserra Capital Management LLC bought a new position in Meritage Homes during the first quarter valued at about $57,000. PNC Financial Services Group Inc. raised its holdings in Meritage Homes by 25.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,804 shares of the construction company’s stock valued at $103,000 after buying an additional 572 shares in the last quarter. Public Employees Retirement System of Ohio raised its holdings in Meritage Homes by 11.5% during the fourth quarter. Public Employees Retirement System of Ohio now owns 2,943 shares of the construction company’s stock valued at $108,000 after buying an additional 304 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Meritage Homes by 18.6% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,068 shares of the construction company’s stock valued at $137,000 after buying an additional 481 shares in the last quarter. Institutional investors own 96.60% of the company’s stock.
About Meritage Homes
Meritage Homes Corporation designs and builds single-family homes in the United States. The company operates through two segments, Homebuilding and Financial Services. It acquires and develops land; and constructs, markets, and sells homes for first-time and first move-up buyers. The company also offers luxury homes; and title insurance and closing/settlement services to its homebuyers.
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