Recent insider trends for Range Resources Corporation (NYSE:RRC) have caught the attention of investors. Insider data is useful because it can reveal what a company’s executives and largest shareholders feel about a stock. In this case, the data has some interesting things to say about how RRC might perform in the future.
Institutions own 102.85% of Range Resources Corporation (RRC)’s shares. The total value of these holdings, in millions, is $4,282. Among active positions in the latest quarter, 244 holders increased their positions by a total of 49.06 million shares, 190 holders decreased the positions by a total of 31.68 million shares, and 50 holders held their positions. This works out to a net increase in ownership of 17.38 million shares, and suggests that institutions are feeling bullish about the stock.
Among new and sold out positions, 50 holders initiated new positions by a total of 10.75 million shares and 68 holders exited their positions by a total of 7.13 million shares. This nets out to an increase of 3.62 million shares and is a bullish sign for RRC.
In the last three months, insiders executed a total of 14 trades. 5 of these were buys and 9 were sells. Insider ownership decreased by a total of 48574 shares, which suggests that RRC’s key executives are feeling less optimistic about the outlook for the stock. The data from the past twelve months tells a different story: insiders executed 49 buys and 20 sells, and ownership increased by a net of 474613 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. Range Resources Corporation (NYSE:RRC)’s short interest is 27.22 million shares, or 11.21% of the float. This represents a decrease of -11% 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.
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 RRC. A composite of 13 technical indicators that includes measures such as moving averages and momentum oscillators suggests that RRC is a Weak sell, which implies that RRC 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 bearish. Technical indicators (also) suggest that Range Resources Corporation (NYSE:RRC) is overvalued.