Finance

Are Pengrowth Energy Corporation (PGH)’s Recent Ownership and Insider Trends a Sign of Things to Come?

Recent insider trends for Pengrowth Energy Corporation (NYSE:PGH) have caught the attention of investors. Analysts monitor insider data to understand the sentiment of a company’s largest and most important shareholders. PGH’s insider trading patterns have some implications for where the stock might be headed.

Institutions own 15.81% of Pengrowth Energy Corporation (PGH)’s shares. The total value of these holdings, in millions, is $81. Among active positions in the latest quarter, 38 holders increased their positions by a total of 3.02 million shares, 55 holders decreased the positions by a total of 18.51 million shares, and 40 holders held their positions. This works out to a net decrease in ownership of 15.49 million shares, and suggests that institutions are feeling bearish about the stock.

Among new and sold out positions, 12 holders initiated new positions by a total of 324590 shares and 15 holders exited their positions by a total of 4.21 million shares. This nets out to a decrease of 3.89 million shares and is another bearish sign for PGH.

Insider ownership increased by a total of 0 shares, which suggests that PGH’s key executives are feeling more optimistic about the outlook for the stock. The data from the past twelve months tells a similar story: ownership increased by a net of 0 shares.



Short interest, or the number of a stock’s tradable shares currently being shorted, is another metric investors use to get a pulse on sentiment. Pengrowth Energy Corporation (NYSE:PGH)’s short interest is 10.88 million shares, or 2.35% of the float. This represents a decrease of -4% in the number of shares being shorted compared to the previous reading, and implies that investors felt less pessimistic about the stock during the past two weeks.

Supplementing insider data with technical indicators can help an investor form a more complete view on the outlook for a stock. A composite of 13 technical indicators that includes measures such as moving averages and momentum oscillators suggests that PGH is a Weak sell, which implies that PGH is expected to underperform the market based on prior trading patterns.

Conclusion




Institutional ownership trends suggest that the stock is cheap and the insider trading data indicates that insiders are bullish. Technical indicators (also) suggest that Pengrowth Energy Corporation (NYSE:PGH) is overvalued.

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