Finance

What Recent Ownership Trends Suggest About Pier 1 Imports, Inc. (PIR)’s Future Performance

Recent insider trends for Pier 1 Imports, Inc. (NYSE:PIR) have caught the attention of investors. Insider activity is often a strong indicator of future performance in a stock, and if the data on PIR is anything to go by, investors should pay attention.

Institutions own 82.69% of Pier 1 Imports, Inc. (PIR)’s shares. The total value of these holdings, in millions, is $210. Among active positions in the latest quarter, 90 holders increased their positions by a total of 12.23 million shares, 79 holders decreased the positions by a total of 12.32 million shares, and 27 holders held their positions. This works out to a net decrease in ownership of 88367 shares, and suggests that institutions are feeling bearish about the stock.

Among new and sold out positions, 29 holders initiated new positions by a total of 3.74 million shares and 31 holders exited their positions by a total of 4.47 million shares. This nets out to a decrease of 725105 shares and is another bearish sign for PIR.

In the last three months, insiders executed a total of 50 trades. 48 of these were buys and 2 were sells. Insider ownership increased by a total of 43901 shares, which suggests that PIR’s key executives are feeling more optimistic about the outlook for the stock. The data from the past twelve months tells a similar story: insiders executed 239 buys and 40 sells, and ownership increased by a net of 1.23 million shares.



Short interest is another tool that analysts use to gauge investor sentiment. It represents the number of a stock’s shares that are being shorted by investors. Pier 1 Imports, Inc. (NYSE:PIR)’s short interest is 10.44 million shares, or 13.90% of the float. This represents an increase of 1% 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.

Given what the insider ownership patterns are saying, it makes sense to consider the technicals to see if these pieces of information reach the same conclusion about the outlook for PIR. A composite of 13 technical indicators that includes measures such as moving averages and momentum oscillators suggests that PIR is a Strong sell, which implies that PIR 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 Pier 1 Imports, Inc. (NYSE:PIR) is overvalued.

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