What Are Insiders Doing With Shares of Their Firm: MYR Group Inc. (NASDAQ:MYRG)

Insiders at MYR Group Inc. (NASDAQ:MYRG) have decreased their position in the stock by -28.63% over the past 6 months, according to the latest SEC Filings.  Insiders now own 0.30% of total outstanding shares.

University of Michigan professor and noted insider trading researcher, Nejat Seyhun, discovered that when insiders bought shares of their own companies, the stocks outperformed the total market by 8.9% over the following year while when they sold shares, the stock underperformed 5.4% over the same period. 

MYR Group Inc. (NASDAQ:MYRG) stands 0.11% away from its 50-day simple moving average and also 9.45% away from the 200-day average.  Recently, the equity stands -20.24% away from the 52-week high and 51.78% from the 52-week low.  The RSI (Relative Strength Index), an indicator that shows price strength by comparing upward and downward close-to-close movements is 49.52.

The consensus analysts recommendation at this point stands at 2.00 for MYR Group Inc..  This is based on a 1-5 scale where 1 indicates a Strong Buy and 5 a Strong Sell. Further, analysts have a 12 month target price of $37.20 on company shares.  This is according to the analysts polled by Thomson Reuters which have recently published research reports on the firm. 

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