Meritage Homes Corp (NYSE:MTH) was the recipient of a significant drop in short interest in the month of June. As of June 30th, there was short interest totalling 1,056,700 shares, a drop of 19.3% from the May 30th total of 1,309,800 shares. Based on an average daily volume of 328,100 shares, the short-interest ratio is presently 3.2 days. Approximately 3.0% of the shares of the stock are short sold.
Shares of NYSE:MTH traded up $1.48 during trading on Friday, reaching $55.22. The stock had a trading volume of 10,887 shares, compared to its average volume of 299,435. Meritage Homes has a 52 week low of $32.02 and a 52 week high of $53.88. The firm has a 50-day simple moving average of $51.58. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.32 and a quick ratio of 1.32. The company has a market cap of $2.08 billion, a PE ratio of 9.82, a PEG ratio of 1.16 and a beta of 1.08.
Meritage Homes (NYSE:MTH) last posted its earnings results on Tuesday, April 23rd. The construction company reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.02. Meritage Homes had a net margin of 6.00% and a return on equity of 12.18%. The company had revenue of $699.00 million during the quarter, compared to analysts’ expectations of $636.66 million. During the same quarter in the previous year, the company posted $1.07 earnings per share. Meritage Homes’s quarterly revenue was down 4.0% compared to the same quarter last year. Equities research analysts anticipate that Meritage Homes will post 4.81 earnings per share for the current fiscal year.
In other Meritage Homes news, CFO Hilla Sferruzza sold 5,300 shares of the firm’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $50.75, for a total transaction of $268,975.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, COO Phillippe Lord sold 3,000 shares of the firm’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $50.75, for a total transaction of $152,250.00. The disclosure for this sale can be found here. 6.10% of the stock is owned by company insiders.
Large investors have recently bought and sold shares of the company. Macquarie Group Ltd. raised its position in Meritage Homes by 2.4% in the 4th quarter. Macquarie Group Ltd. now owns 1,882,295 shares of the construction company’s stock worth $69,118,000 after purchasing an additional 44,260 shares during the last quarter. Emerald Mutual Fund Advisers Trust raised its position in Meritage Homes by 92.7% in the 1st quarter. Emerald Mutual Fund Advisers Trust now owns 294,548 shares of the construction company’s stock worth $13,169,000 after purchasing an additional 141,700 shares during the last quarter. Shell Asset Management Co. bought a new position in Meritage Homes in the 1st quarter worth approximately $464,000. Great West Life Assurance Co. Can raised its position in Meritage Homes by 11.3% in the 4th quarter. Great West Life Assurance Co. Can now owns 51,421 shares of the construction company’s stock worth $1,744,000 after purchasing an additional 5,226 shares during the last quarter. Finally, BlackRock Inc. raised its position in Meritage Homes by 0.8% in the 4th quarter. BlackRock Inc. now owns 6,221,109 shares of the construction company’s stock worth $228,438,000 after purchasing an additional 52,149 shares during the last quarter. Institutional investors own 96.60% of the company’s stock.
Meritage Homes Company Profile
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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