Around $13M Bet On This Utilities Stock? Check Out These 3 Stocks Insiders Are Buying
Portfolio Pulse from Lisa Levin
Insiders have recently made notable purchases in Southwest Gas Holdings (SWX), RenaissanceRe Holdings (RNR), and ProFrac Holding Corp (ACDC). These purchases signal confidence in the companies' prospects and may present an opportunity for investors.
May 30, 2023 | 12:29 pm
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POSITIVE IMPACT
Dan Wilks, a 10% owner of ProFrac Holding Corp (ACDC), bought 734,140 shares at an average price of $12.01, totaling $8.82 million, despite downbeat quarterly results.
The purchase of a significant number of shares by a 10% owner, despite the downbeat quarterly results, indicates confidence in the company's prospects. This suggests a potential short-term positive impact on the stock price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
POSITIVE IMPACT
Kevin Odonnell, Director, President & CEO of RenaissanceRe Holdings (RNR), acquired 13,020 shares at an average price of $192.00, totaling $2.5 million, following a public offering of 6.3 million common shares.
The purchase of shares by the company's CEO indicates confidence in the company's prospects, especially following the public offering of 6.3 million common shares. This suggests a potential short-term positive impact on the stock price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
POSITIVE IMPACT
Icahn Partners Master Fund LP acquired 224,812 shares of Southwest Gas Holdings (SWX) at an average price of $57.41, totaling $12.91 million, following upbeat quarterly results.
The acquisition of a significant number of shares by Icahn Partners Master Fund LP, a 10% owner, indicates confidence in the company's prospects. This, combined with the positive quarterly results, suggests a potential short-term positive impact on the stock price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100