Over $13M Bet On This Energy 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 Noble Corporation, Friedman Industries, Dave & Buster’s Entertainment, and First National Corporation. These trades may indicate confidence in the companies' prospects.
July 08, 2024 | 12:12 pm
News sentiment analysis
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POSITIVE IMPACT
Friedman Industries' Director, President, and CEO Mike J Taylor acquired 5,000 shares at an average price of $14.50, costing around $72,500. Recently, the company declared a cash dividend of 4 cents per share.
The insider purchase by the CEO indicates confidence in the company's prospects, supported by the recent dividend declaration.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 80
POSITIVE IMPACT
First National Corporation Director Kirtesh Patel bought 7,500 shares at an average price of $15.56, costing around $116,700. The company recently reported unaudited consolidated net income of $3.2 million for Q1 2024.
The insider purchase indicates confidence in the company's financial health and future prospects, supported by the recent positive earnings report.
CONFIDENCE 75
IMPORTANCE 50
RELEVANCE 70
POSITIVE IMPACT
Noble Corporation's 10% owner APMH Invest A/S acquired 300,000 shares at an average price of $44.15, costing around $13.2 million. This follows Noble's recent agreement to acquire Diamond Offshore Drilling for $2.15 billion.
The significant insider purchase suggests strong confidence in Noble's future, especially following their strategic acquisition of Diamond Offshore Drilling.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Dave & Buster’s Entertainment CFO Darin Harper bought 13,578 shares at an average price of $38.77, costing around $526,420. This follows the company's worse-than-expected first-quarter financial results.
The insider purchase by the CFO suggests confidence in the company's recovery and future performance despite recent poor financial results.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 90