$1M Bet On Axalta Coating Systems? Check Out These 3 Stocks Insiders Are Buying
Portfolio Pulse from Lisa Levin
Insiders at Axalta Coating Systems Ltd. (AXTA), Spire Inc. (SR), and Donegal Group Inc. (DGICA) have recently made notable purchases of their companies' stocks. This could indicate their confidence in the companies' prospects or that they view the stocks as bargains. However, Axalta and Spire reported worse-than-expected financial results, while Donegal posted better-than-expected quarterly sales.
September 07, 2023 | 11:13 am
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NEGATIVE IMPACT
Axalta Coating Systems Ltd.'s director Kevin Stein acquired 36,600 shares at an average price of $27.38, costing around $1 million. The company recently reported worse-than-expected Q2 results and issued FY23 guidance below estimates.
The insider purchase indicates confidence in the company's prospects despite the disappointing financial results. However, the poor performance and lower guidance could negatively impact the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
Spire Inc.'s Treasurer Adam W Woodard acquired 1,000 shares at an average price of $58.70, costing around $58,700. The company recently posted downbeat results for its third quarter.
The insider purchase suggests confidence in the company's future despite the poor Q3 results. However, the disappointing performance could negatively affect the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
Donegal Group Inc.'s 10% owner Donegal Mutual Insurance Co bought 4,689 shares at an average price of $14.65, costing around $68,675. The company recently posted better-than-expected quarterly sales.
The insider purchase, combined with the better-than-expected sales results, could positively impact the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100