Around $5M Bet On This Communication Services Stock? Check Out These 4 Stocks Insiders Are Buying
Portfolio Pulse from Avi Kapoor
Insiders have made notable purchases in Cardlytics, Phunware, Energy Services of America, and Entrada Therapeutics, signaling confidence in these companies. Cardlytics' insider bought shares worth around $4.96 million, while Phunware's CFO, Energy Services of America's Director, and Entrada Therapeutics' Director also made significant purchases. These actions may indicate a bullish outlook for these stocks.
March 22, 2024 | 11:29 am
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POSITIVE IMPACT
Clifford Sosin, a 10% owner of Cardlytics, purchased 350,000 shares at an average price of $14.16, totaling around $4.96 million. This follows an Equity Distribution Agreement allowing up to $50 million in share sales.
The significant purchase by a major owner, coupled with the recent Equity Distribution Agreement, suggests strong insider confidence in Cardlytics' future, potentially signaling a positive short-term impact on the stock.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
Mark Prince, a Director of Energy Services of America, bought 14,000 shares at an average price of $8.17, totaling around $114,860. This follows the company's engagement of Three Part Advisors as investor relations counsel.
The director's investment, coupled with the new investor relations counsel, could indicate a strategic move to boost investor confidence and potentially a positive short-term impact on the stock.
CONFIDENCE 70
IMPORTANCE 65
RELEVANCE 75
POSITIVE IMPACT
Phunware's CFO, Troy Lee Reisner, acquired 2,000 shares at an average price of $8.76, costing around $17,514. This follows a report of worse-than-expected fourth-quarter EPS results.
The CFO's purchase after a disappointing earnings report may indicate belief in the company's recovery or undervaluation, suggesting a potential positive short-term impact on Phunware's stock.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Peter S Kim, a Director of Entrada Therapeutics, bought 2,732 shares at an average price of $12.81, spending around $34,996. This follows upbeat quarterly sales reported by the company.
The director's purchase after positive sales results suggests confidence in sustained growth or undervaluation, indicating a likely positive short-term impact on Entrada Therapeutics' stock.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 80