Taylor Morrison Home Corp (NYSE:TMHC) CEO Sheryl Palmer has sold 100,000 shares of company stock, netting over $6 million, according to a recent regulatory filing. The transaction was executed on May 15, with the shares sold at a weighted average price of $61.70.
The sale was conducted under a prearranged 10b5-1 trading plan, which allows company insiders to sell stocks at predetermined times to avoid accusations of insider trading. The shares were sold in multiple transactions with prices ranging from $60.74 to $62.07.
Following the sale, Palmer still holds 19,211 shares of Taylor Morrison directly, which are held by a trust where she is a trustee and the sole beneficiary. In addition to these shares, she also holds 276,929 shares indirectly.
Investors often monitor insider sales as they can provide insights into an executive’s view of the company's stock value and financial health. However, sales made under 10b5-1 plans are planned in advance and therefore may not necessarily reflect a change in an executive’s confidence in the company.
The transaction details were disclosed in a Form 4 filing with the Securities and Exchange Commission. Taylor Morrison Home Corp, based in Scottsdale, Arizona, operates in the real estate and construction industry, specializing in building homes and communities.
InvestingPro Insights
Taylor Morrison Home Corp's (NYSE:TMHC) CEO's recent stock sale coincides with the company's strong performance metrics. The real-time data from InvestingPro shows that TMHC is trading near its 52-week high, with the price at 96.02% of this peak. This aligns with the InvestingPro Tip highlighting the significant price uptick over the last six months, where the 6 Month Price Total Return stands at an impressive 37.29%.
The company's solid financial footing is further evidenced by a P/E Ratio (Adjusted) for the last twelve months as of Q1 2024 at 7.82, indicating a potentially undervalued stock compared to industry peers. Moreover, TMHC operates with a moderate level of debt and has liquid assets that exceed short-term obligations, reassuring investors of the company’s ability to meet its immediate financial liabilities.
For investors looking to delve deeper into Taylor Morrison Home Corp's financial health and future prospects, there are additional InvestingPro Tips available, such as the company's profitability predictions for this year and its performance over the last five years. For those interested in exploring these insights further, they can visit https://www.investing.com/pro/TMHC and use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription. In total, there are 10 InvestingPro Tips available, offering a comprehensive analysis of TMHC's market performance and financial stability.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.