A Director at Meritage (NYSE: MTH) is Selling Shares

By Carrie Williams

Today, a Director at Meritage (MTHResearch Report), Odell Michael, sold shares of MTH for $335K.

In addition to Odell Michael, one other MTH executive reported Sell trades in the last month.

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Based on Meritage’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $906 million and quarterly net profit of $71.15 million. In comparison, last year the company earned revenue of $714 million and had a net profit of $25.41 million. The company has a one-year high of $76.83 and a one-year low of $25.24. Currently, Meritage has an average volume of 63.32K.

Based on 4 analyst ratings, the analyst consensus is Moderate Buy with an average price target of $57.00, reflecting a 27.2% upside.

The insider sentiment on Meritage has been negative according to 51 insider trades in the past three months. This sentiment is lower than the average sentiment of company insiders in this sector.

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Meritage Homes Corp. is a holding company, which engages in the development and sale of residential properties. It operates through two segments: Homebuilding and Financial Services. The Homebuilding segment acquires constructs and markets single-detached houses. The Financial Services segment includes the operations of the company’s subsidiary, Carefree Title. Meritage Homes was founded by Steven J. Hilton and William W. Cleverly in 1985 and is headquartered in Scottsdale, AZ.