More Than $8M Bet On This Real Estate Stock? Check Out These 4 Stocks Insiders Are Buying
Portfolio Pulse from Lisa Levin
Insider trading has been observed in four US-listed companies: Howard Hughes Holdings Inc. (HHH), Texas Capital Bancshares, Inc. (TCBI), Truist Financial Corporation (TFC), and Cass Information Systems, Inc. (CASS). The insiders' purchases indicate their confidence in the companies' prospects. Howard Hughes plans to spinoff a new division, Seaport Entertainment, by 2024. Texas Capital Bancshares and Cass Information Systems posted better-than-expected quarterly results. Truist Financial's Q3 revenues fell 2.7% YoY but beat consensus.
October 25, 2023 | 11:00 am
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NEUTRAL IMPACT
Chairman and CEO William Rogers Jr bought 10,000 shares of Truist Financial Corporation at an average price of $28.05, costing around $280,480. The company's Q3 revenues fell 2.7% YoY but beat consensus.
The insider purchase by the Chairman and CEO indicates confidence in the company's prospects. However, the fall in Q3 revenues could potentially have a negative impact on the company's stock price.
CONFIDENCE 85
IMPORTANCE 65
RELEVANCE 100
POSITIVE IMPACT
President and CEO Martin H Resch bought 1,000 shares of Cass Information Systems, Inc. at an average price of $36.50, costing around $36,500. The company posted better-than-expected quarterly sales.
The insider purchase by the President and CEO indicates confidence in the company's prospects. The better-than-expected quarterly sales could potentially boost the company's stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
Director William Ackman acquired 132,320 shares of Howard Hughes Holdings Inc. at an average price of $67.11, costing around $8.88 million. The company plans to spinoff a new division, Seaport Entertainment, by 2024.
The insider purchase by a director indicates confidence in the company's prospects. The planned spinoff of a new division could potentially add value to the company.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
POSITIVE IMPACT
Director Robert Stallings acquired 8,000 shares of Texas Capital Bancshares, Inc. at an average price of $54.54, costing around $436,320. The company posted better-than-expected quarterly results.
The insider purchase by a director indicates confidence in the company's prospects. The better-than-expected quarterly results could potentially boost the company's stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100