Finance

Should You Invest in Pengrowth Energy Corporation (PGH)? A Look at the Insider Trends

Recent insider trends for Pengrowth Energy Corporation (NYSE:PGH) 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 PGH, the data has some interesting implications for where the stock might be headed.

Institutions own 16.32% of Pengrowth Energy Corporation (PGH)’s shares. The total value of these holdings, in millions, is $97. Among active positions in the latest quarter, 39 holders increased their positions by a total of 2.79 million shares, 54 holders decreased the positions by a total of 15.76 million shares, and 43 holders held their positions. This works out to a net decrease in ownership of 12.96 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 214138 shares and 17 holders exited their positions by a total of 2.5 million shares. This nets out to a decrease of 2.28 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.



Comparing the number of shares sold short over time is a method analysts often use to get a reading on investor sentiment. Pengrowth Energy Corporation (NYSE:PGH)’s short interest is 13.71 million shares, or 2.97% of the float. This represents a decrease of -28% 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.

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 PGH. A composite of 13 technical indicators that includes measures such as moving averages and momentum oscillators suggests that PGH is a buy, which implies that PGH is expected to outperform 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 undervalued.

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