Over $2M Bet On This Tech Stock? Check Out These 4 Stocks Insiders Are Buying
Portfolio Pulse from Avi Kapoor
Several notable insider trades were reported, including significant purchases by insiders at Reservoir Media, Shift4 Payments, Beyond, and Hawkins. These trades indicate confidence in the companies' prospects.
June 07, 2024 | 1:16 pm
News sentiment analysis
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POSITIVE IMPACT
Shift4 Payments' Chairman and CEO Jared Isaacman acquired 29,669 shares at an average price of $69.23, costing around $2.05 million. This follows a Neutral rating and $75 price target from Wedbush analyst Moshe Katri.
The insider purchase by the CEO and recent analyst coverage with a price target above the purchase price indicate potential positive sentiment.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
Hawkins' Director James A Faulconbridge bought 1,900 shares at an average price of $86.52, costing around $164,396. This follows the acquisition of Intercoastal Trading, Inc. and its affiliated companies on June 3.
The insider purchase and recent acquisition suggest confidence in the company's growth prospects, likely positively impacting investor sentiment.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
Reservoir Media's 10% owner Wesbild Inc acquired 350,000 shares at an average price of $8.01, costing around $2.8 million. This follows better-than-expected quarterly earnings reported on May 30.
The significant insider purchase and recent positive earnings report suggest confidence in the company's future performance, likely boosting investor sentiment.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
Beyond's Director and Executive Chairman Marcus Lemonis bought 17,075 shares at an average price of $14.61, costing around $249,466. This follows worse-than-expected first-quarter financial results reported on May 6.
The insider purchase may indicate confidence, but the recent poor financial results could temper short-term positive impact.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 100