Long Position on MTH @ $116.00 on 4/3/2023 (Momentum)

Meritage Homes Corporation (MTH) designs and builds single-family attached and detached 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 in Texas, Arizona, California, Colorado, Florida, North Carolina, South Carolina, Georgia, and Tennessee.

The company also offers title and escrow, mortgage, title insurance, and closing/settlement services to its homebuyers. 

On February 1st, MTH reported Quarter December 2022 earnings of $7.09 per share on revenue of $2.0 billion. The consensus earnings estimate was $7.03 per share on revenue of $1.8 billion.  Revenue grew 32.4% on a year-over-year basis.

Stocks are heading higher following an upward trading channel. Higher share prices are expected.

Entry Point: $116.00

Trading Range: $62.51 to $117.22

Position closed on 4/20/2023 at price of $128.77 with a 11.01% gain in 17 days.

Back to Portfolio