$2M Bet On Exxon Mobil? Check Out These 3 Stocks Insiders Are Buying
Portfolio Pulse from Avi Kapoor
Insiders have made notable purchases in Exxon Mobil, Citi Trends, and Franklin Resources, indicating confidence in these companies. Exxon Mobil's director bought $2M worth of shares, Citi Trends' 10% owner acquired $1.61M worth of shares, and Franklin Resources' 10% owner bought shares worth $188,792.
June 21, 2024 | 1:08 pm
News sentiment analysis
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NEUTRAL IMPACT
Franklin Resources' 10% owner James H Dahl bought $188,792 worth of shares. This follows AMREP's earnings report showing a significant drop in earnings per share compared to the previous year.
The insider purchase shows some confidence, but the recent earnings report with a significant drop in EPS may temper expectations for the stock's short-term performance.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 100
NEUTRAL IMPACT
Citi Trends' 10% owner Pleasant Lake Partners LLC acquired $1.61M worth of shares. Despite this, analyst Jeremy Hamblin maintained a Hold rating and lowered the price target from $27 to $25.
The insider purchase indicates confidence, but the Hold rating and lowered price target by an analyst suggest mixed signals for the stock's short-term performance.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
Exxon Mobil's director Maria S. Dreyfus purchased $2M worth of shares, indicating strong confidence in the company's prospects. Additionally, Exxon Mobil plans to file a federal lawsuit against the Biden administration's emission cuts.
The significant insider purchase by a director suggests strong confidence in Exxon Mobil's future. The planned lawsuit could also impact the company's regulatory environment, potentially affecting its stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100