Over $28M Bet On This Energy Stock? Check Out These 3 Stocks Insiders Are Buying
Portfolio Pulse from Avi Kapoor
Insiders have made notable purchases in PBF Energy, Fresh Del Monte Produce, AMREP, and CSP Inc., indicating confidence in these companies' prospects. PBF Energy's significant insider buy comes ahead of its Q2 earnings release, while Fresh Del Monte Produce, AMREP, and CSP Inc. have also seen insider buying despite mixed recent earnings reports.
June 20, 2024 | 2:32 pm
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POSITIVE IMPACT
AMREP's 10% owner bought 10,000 shares at $18.88 each, totaling $188,792. This follows the company's report of lower earnings for its fiscal third quarter.
The insider purchase suggests confidence in AMREP's potential recovery or future performance, which could have a positive short-term impact on the stock price.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
CSP Inc.'s Director bought 5,264 shares at $13.97 each, totaling $73,548. This follows the company's report of increased EPS for the second quarter.
The insider purchase following a positive earnings report suggests confidence in CSP Inc.'s continued performance, likely leading to a positive short-term impact on the stock price.
CONFIDENCE 65
IMPORTANCE 50
RELEVANCE 60
POSITIVE IMPACT
Fresh Del Monte Produce's SVP, CHRO acquired 2,000 shares at $21.85 each, totaling $43,694. This follows the company's downbeat quarterly earnings report on May 2.
Despite recent downbeat earnings, the insider purchase indicates some level of confidence in the company's future, potentially leading to a modest positive impact on the stock price.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
PBF Energy's 10% owner acquired 638,000 shares at $44.10 each, totaling $28.13 million. This significant insider purchase comes ahead of the company's Q2 earnings release on August 1.
The large insider purchase suggests strong confidence in PBF Energy's future performance, especially with the upcoming earnings report. This could lead to a positive short-term impact on the stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100