Around $54M Bet On This Energy Stock? Check Out These 3 Stocks Insiders Are Buying
Portfolio Pulse from Avi Kapoor
Insiders at PBF Energy, Worthington Steel, and NB Bancorp have made notable stock purchases. A 10% owner of PBF Energy bought shares worth approximately $53.71 million, while a director at Worthington Steel purchased shares valued at around $51,954. A director at NB Bancorp acquired shares for about $139,873. These transactions may indicate confidence in the companies' prospects. However, an analyst recently downgraded PBF Energy from Overweight to Neutral.
January 18, 2024 | 11:36 am
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POSITIVE IMPACT
NB Bancorp Director Paul Ayoub bought 10,070 shares at an average price of $13.89, with a total cost of approximately $139,873.
The director's purchase at NB Bancorp may indicate a positive outlook for the company, suggesting a potential short-term rise in the stock price.
CONFIDENCE 65
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Worthington Steel Director Charles M Chiappone acquired 1,850 shares at an average price of $28.08, costing around $51,954.
The insider purchase at Worthington Steel could signal confidence in the company's future, potentially leading to a positive short-term impact on the stock price.
CONFIDENCE 65
IMPORTANCE 60
RELEVANCE 70
NEUTRAL IMPACT
A 10% owner of PBF Energy purchased 1,256,000 shares at an average price of $42.77, totaling around $53.71 million. However, an analyst downgraded the stock from Overweight to Neutral with a lower price target.
The large insider purchase suggests confidence, which could be positive for the stock. However, the recent downgrade by an analyst may temper investor enthusiasm, leading to a neutral short-term impact.
CONFIDENCE 70
IMPORTANCE 75
RELEVANCE 90