Finance

Analyzing the Insider Data for Baytex Energy Corp. (BTE)

Recent insider trends for Baytex Energy Corp. (NYSE:BTE) have caught the attention of investors. Analysts study insider data to get a sense of sense of what key shareholders think about the outlook for a particular stock. In the case of BTE, the data has some interesting implications for where the stock might be headed.

Institutions own 16.65% of Baytex Energy Corp. (BTE)’s shares. The total value of these holdings, in millions, is $126. Among active positions in the latest quarter, 41 holders increased their positions by a total of 7.9 million shares, 43 holders decreased the positions by a total of 5.99 million shares, and 30 holders held their positions. This works out to a net increase in ownership of 1.92 million shares, and suggests that institutions are feeling bullish about the stock.

Among new and sold out positions, 9 holders initiated new positions by a total of 1.17 million shares and 12 holders exited their positions by a total of 880958 shares. This nets out to an increase of 288506 shares and is a bullish sign for BTE.

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



Comparing the number of shares sold short over time is a method analysts often use to get a reading on investor sentiment. Baytex Energy Corp. (NYSE:BTE)’s short interest is 17.07 million shares, or 7.35% of the float. This represents an increase of 7% in the number of shares being shorted compared to the previous reading, and implies that investors felt more 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 BTE is a Weak sell, which implies that BTE 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 Baytex Energy Corp. (NYSE:BTE) is overvalued.

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