A Director at Meritage Corp (MTH) is Buying Shares

Today, a Director at Meritage Corp (MTH), Dana Bradford, bought shares of MTH for $379K.

Following this transaction Dana Bradford’s holding in the company was increased by 16.81% to a total of $3.01 million. Following Dana Bradford’s last MTH Buy transaction on May 17, 2012, the stock climbed by 10.6%.

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Based on Meritage Corp’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $888 million and quarterly net profit of $54.14 million. In comparison, last year the company earned revenue of $809 million and had a net profit of $42.55 million. MTH’s market cap is $1.54B and the company has a P/E ratio of 8.41. Currently, Meritage Corp has an average volume of 231.8K.

Based on 7 analyst ratings, the analyst consensus is Moderate Buy with an average price target of $44.29, reflecting a 17.7% upside. Four different firms, including Deutsche Bank and Evercore ISI, currently also have a Buy rating on the stock.

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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.