Over $8M Bet On This Health Care Stock? Check Out These 4 Stocks Insiders Are Buying
Portfolio Pulse from Avi Kapoor
The article highlights notable insider trades in four companies: Exelixis, Caesars Entertainment, PCB Bancorp, and Bar Harbor Bankshares. Insider purchases often indicate confidence in the company's prospects. Exelixis saw a significant purchase by Caligan Partners LP, while Caesars Entertainment received a strong buy rating from Raymond James. PCB Bancorp and Bar Harbor Bankshares also had insider buys following their recent earnings reports.
May 31, 2024 | 1:26 pm
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NEUTRAL IMPACT
PCB Bancorp's Director Sang Young Lee bought 14,000 shares at an average price of $14.97, totaling around $209,541. This follows a downbeat quarterly earnings report on April 25.
The insider purchase shows confidence, but the recent downbeat earnings report may temper short-term positive impacts on the stock.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 100
POSITIVE IMPACT
Bar Harbor Bankshares' Director Scott G Toothaker bought 4,476 shares at an average price of $25.82, totaling around $115,570. This follows an upbeat quarterly earnings report on April 18.
The insider purchase, along with the recent positive earnings report, suggests a favorable short-term outlook for Bar Harbor Bankshares.
CONFIDENCE 80
IMPORTANCE 65
RELEVANCE 100
POSITIVE IMPACT
Caesars Entertainment's Director Michael E Pegram acquired 10,000 shares at an average price of $31.96, totaling around $319,600. This follows a Strong Buy rating and a $55 price target by Raymond James.
The insider purchase, coupled with a Strong Buy rating and a significant price target, suggests a positive short-term outlook for Caesars Entertainment.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
Exelixis saw a significant insider purchase by Caligan Partners LP, acquiring 425,000 shares at an average price of $20.55, totaling around $8.73 million. This follows an Equal-Weight rating and a $23 price target by Stephens & Co.
The large insider purchase indicates strong confidence in Exelixis' prospects. Combined with the recent analyst coverage and price target, this is likely to positively impact the stock in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100