Recent insider trends for America Movil, S.A.B. de C.V. (NYSE:AMX) have caught the attention of investors. Insider activity is often a strong indicator of future performance in a stock, and if the data on AMX is anything to go by, investors should pay attention.
Institutions own 11.03% of America Movil, S.A.B. de C.V. (AMX)’s shares. The total value of these holdings, in millions, is $4,431. Among active positions in the latest quarter, 115 holders increased their positions by a total of 18.63 million shares, 115 holders decreased the positions by a total of 23.21 million shares, and 74 holders held their positions. This works out to a net decrease in ownership of 4.57 million shares, and suggests that institutions are feeling bearish about the stock.
Among new and sold out positions, 40 holders initiated new positions by a total of 5.01 million shares and 33 holders exited their positions by a total of 5.06 million shares. This nets out to a decrease of 50779 shares and is another bearish sign for AMX.
Short interest, or the number of a stock’s tradable shares currently being shorted, is another metric investors use to get a pulse on sentiment. America Movil, S.A.B. de C.V. (NYSE:AMX)’s short interest is 13.87 million shares, or 0.99% of the float. This represents an increase of 37% 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 AMX. A composite of 13 technical indicators that includes measures such as moving averages and momentum oscillators suggests that AMX is a sell, which implies that AMX 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 America Movil, S.A.B. de C.V. (NYSE:AMX) is overvalued.