Recent insider trends for Superior Energy Services, Inc. (NYSE:SPN) 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 SPN, the data has some interesting implications for where the stock might be headed.
Institutions own 111.01% of Superior Energy Services, Inc. (SPN)’s shares. The total value of these holdings, in millions, is $1,562. Among active positions in the latest quarter, 138 holders increased their positions by a total of 26.5 million shares, 130 holders decreased the positions by a total of 31.68 million shares, and 34 holders held their positions. This works out to a net decrease in ownership of 5.18 million shares, and suggests that institutions are feeling bearish about the stock.
Among new and sold out positions, 36 holders initiated new positions by a total of 5.41 million shares and 46 holders exited their positions by a total of 10.67 million shares. This nets out to a decrease of 5.26 million shares and is another bearish sign for SPN.
In the last three months, insiders executed a total of 1 trades. 1 of these were buys. Insider ownership increased by a total of 20000 shares, which suggests that SPN’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 9 buys and 6 sells, and ownership increased by a net of 226208 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. Superior Energy Services, Inc. (NYSE:SPN)’s short interest is 19.28 million shares, or 12.76% of the float. This represents a decrease of -6% 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 SPN is a Strong sell, which implies that SPN is expected to underperform the market based on prior trading patterns.
Institutional ownership trends suggest that the stock is cheap and the insider trading data indicates that insiders are bullish. Technical indicators (also) suggest that Superior Energy Services, Inc. (NYSE:SPN) is overvalued.