Finance

Are Pretium Resources Inc. (PVG)’s Recent Ownership and Insider Trends a Sign of Things to Come?

Recent insider trends for Pretium Resources Inc. (NYSE:PVG) 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 PVG, the data has some interesting implications for where the stock might be headed.

Institutions own 47.23% of Pretium Resources Inc. (PVG)’s shares. The total value of these holdings, in millions, is $587. Among active positions in the latest quarter, 65 holders increased their positions by a total of 8.86 million shares, 52 holders decreased the positions by a total of 12.99 million shares, and 23 holders held their positions. This works out to a net decrease in ownership of 4.13 million shares, and suggests that institutions are feeling bearish about the stock.

Among new and sold out positions, 27 holders initiated new positions by a total of 3.52 million shares and 12 holders exited their positions by a total of 2.68 million shares. This nets out to an increase of 839293 shares and is a bullish sign for PVG.

Insider ownership increased by a total of 0 shares, which suggests that PVG’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.



Analysts often look at short interest, or the number of shares currently being shorted by investors, to aid in their outlook for a particular stock. Pretium Resources Inc. (NYSE:PVG)’s short interest is 16.82 million shares, or 10.42% of the float. This represents an increase of 33% 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.

In light of the insider ownership and trading data it makes sense to consider technicals to see if they come to a similar conclusion about the outlook for PVG. A composite of 13 technical indicators that includes measures such as moving averages and momentum oscillators suggests that PVG is a sell, which implies that PVG 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 Pretium Resources Inc. (NYSE:PVG) is overvalued.

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