$23M Bet On PBF Energy? Check Out These 4 Stocks Insiders Are Buying
Portfolio Pulse from Avi Kapoor
The article highlights notable insider trades in four companies: Citi Trends, PBF Energy, Old Point Financial, and Ouster. Insider purchases often indicate confidence in the company's prospects. The trades include significant investments by major shareholders in each company.
June 17, 2024 | 1:07 pm
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NEUTRAL IMPACT
Virginia Boulet acquired 10,000 shares of Ouster at an average price of $10.30, costing around $102,969. Despite a recent downgrade by Cantor Fitzgerald, this insider purchase indicates some level of confidence in the company's prospects.
The insider purchase shows some confidence in Ouster, but the recent downgrade by Cantor Fitzgerald may temper the positive impact on the stock price.
CONFIDENCE 75
IMPORTANCE 50
RELEVANCE 60
POSITIVE IMPACT
Pleasant Lake Partners LLC acquired 75,015 shares of Citi Trends at an average price of $21.74, costing around $1.63 million. This insider purchase indicates confidence in the company's prospects.
The significant insider purchase by a 10% owner suggests strong confidence in Citi Trends' future performance, which could positively impact the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
John W Palmer acquired 83,169 shares of Old Point Financial at an average price of $14.80, costing around $1.23 million. This insider purchase suggests confidence in the company's future performance.
The insider purchase by a 10% owner indicates confidence in Old Point Financial's future, which could positively influence the stock price in the short term.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Control Empresarial de Capitales S.A. de C.V. acquired 521,400 shares of PBF Energy at an average price of $44.26, costing around $23.08 million. This large insider purchase indicates strong confidence ahead of the company's Q2 earnings release.
The substantial insider purchase by a major shareholder indicates strong confidence in PBF Energy's upcoming performance, likely leading to a positive short-term impact on the stock price.
CONFIDENCE 95
IMPORTANCE 80
RELEVANCE 90