$1.5M Bet On This Financial Services Stock? Check Out These 4 Stocks Insiders Are Buying
Portfolio Pulse from Lisa Levin
Insiders at Fifth Third Bancorp, Loews Corporation, Align Technology, and TrueBlue have made notable purchases of their companies' stocks. Fifth Third Bancorp and Loews reported better-than-expected earnings, while Align Technology and TrueBlue reported weaker-than-expected results. Insider purchases can indicate confidence in the company's prospects or that the stock is viewed as a bargain.
November 02, 2023 | 1:05 pm
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NEGATIVE IMPACT
Align Technology's President and CEO bought 5,319 shares at an average price of $188.00, costing around $1 million. The company reported worse-than-expected third-quarter financial results and issued guidance.
Despite the insider purchase, the company's worse-than-expected earnings report could potentially drive the stock price down in the short term.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
TrueBlue's director bought 10,000 shares at an average price of $11.07, costing around $110,700. The company posted weaker-than-expected results for its third quarter.
Despite the insider purchase, the company's weaker-than-expected earnings report could potentially drive the stock price down in the short term.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
POSITIVE IMPACT
Fifth Third Bancorp's director acquired 64,500 shares at an average price of $23.31, costing around $1.5 million. The company reported better-than-expected earnings for its third quarter.
The insider purchase, combined with better-than-expected earnings, indicates a positive outlook for the company, which could potentially drive the stock price up in the short term.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
POSITIVE IMPACT
Loews Corporation's director acquired 15,870 shares at an average price of $63.75, costing around $1.01 million. The company reported a third-quarter EPS of $1.12, up from a loss of 9 cents a year ago.
The insider purchase, along with a positive EPS report, suggests a positive outlook for the company, which could potentially drive the stock price up in the short term.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100