Over $6M Bet On Citi Trends? Check Out These 3 Stocks Insiders Are Buying
Portfolio Pulse from Lisa Levin
Insider purchases at Citi Trends, Lazydays Holdings, and Westrock Coffee indicate potential confidence in these companies. Citi Trends' 10% owner bought shares worth over $6M, Lazydays' 10% owner purchased shares for $1.51M, and a Westrock Coffee director invested around $187K. These transactions may signal buying opportunities, though they should not be the sole basis for investment decisions.
November 30, 2023 | 11:55 am
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POSITIVE IMPACT
Citi Trends' 10% owner purchased 270,600 shares at $22.95 each, totaling approximately $6.21 million, despite a recent sales decline report.
The substantial investment by a 10% owner suggests a strong belief in the company's value and potential for growth, which could positively influence investor sentiment and the stock price in the short term.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 90
POSITIVE IMPACT
Lazydays Holdings' 10% owner Christopher Shackelton acquired 232,373 shares at $6.50 each, spending around $1.51 million, following the acquisition of an RV dealership.
The insider purchase following the company's expansion through an acquisition could be seen as a positive sign for the company's future prospects, potentially leading to a short-term uptick in the stock price.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 85
POSITIVE IMPACT
Westrock Coffee Company Director Joe T Ford bought 20,000 shares at $9.35 each, costing about $187,000, after reporting disappointing sales and issuing guidance.
The director's purchase, despite recent poor sales results, could indicate insider confidence in the company's ability to recover and grow, which may positively impact the stock price in the short term.
CONFIDENCE 70
IMPORTANCE 65
RELEVANCE 80