Short Interest Update on Meritage Corporation (MTH)

Meritage Corporation (MTH) : Traders are getting increasingly bearish on Meritage Corporation (MTH), as can be seen in the addition of short positions from 3,734,361 on Jul 29, 2016, to 3,885,499 on August 15, 2016. The net change in shorts is 151,138 shares, an increase of 4%. 12 days remain before the expiry. The 10.3% of outstanding short positions on the stock compared to its float, shows that traders expect the stock to fall from the current levels. The daily volume of the stock is 326,440. The short interest information was released on Wednesday Aug 24th after the market close.

Meritage Corporation (NYSE:MTH): The stock opened at $35.91 on Wednesday but the bulls could not build on the opening and the stock topped out at $35.91 for the day. The stock traded down to $35.44 during the day, due to lack of any buying support eventually closed down at $35.63 with a loss of -1.19% for the day. The stock had closed at $36.06 on the previous day. The total traded volume was 299,853 shares.


In a related news, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the director of Meritage Homes Corp, Ax Peter L had sold 15,000 shares worth of $550,650 in a transaction dated June 13, 2016. In this transaction, 15,000 shares were sold at $36.71 per share.

Meritage Homes Corporation operates as a holding company. The Company is a designer and builder of single-family detached homes. It operates in two segments: homebuilding and financial services. It has homebuilding operations in three regions. The West region comprises Arizona, California and Colorado; Central region include Texas, and the East region comprises Florida, Georgia, North Carolina, South Carolina and Tennessee. It has nine homebuilding operating segments. The homebuilding segments are engaged in the business of acquiring and developing land, constructing homes, marketing and selling those homes and providing warranty and customer services. Its homebuilding and marketing activities are conducted under the Meritage Homes brand, other than in Tennessee, where it operates under the Phillips Builders brand, and in the Atlanta and Greenville markets where it operates under the Legendary Communities brand. It also operates as Monterey Homes in some markets.

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