Over $18M Bet On This Tech Stock? Check Out These 4 Stocks Insiders Are Buying
Portfolio Pulse from Avi Kapoor
Several notable insider trades were reported, indicating confidence in the respective companies. Appian Corporation, Alta Equipment Group, AMREP Corporation, and Citi Trends saw significant insider purchases, suggesting potential investment opportunities.
July 15, 2024 | 12:33 pm
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POSITIVE IMPACT
Alta Equipment Group's 10% owner Thomas E Lynch acquired 179,414 shares at an average price of $8.05, totaling around $1.4 million. This follows the announcement of a quarterly dividend on its Series A Cumulative Perpetual Preferred Stock.
The insider purchase, coupled with the recent dividend announcement, indicates strong confidence in the company's stability and future performance, likely leading to a positive short-term impact on the stock price.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
Appian Corporation's 10% owner Colin T. Moran acquired 545,121 shares at an average price of $33.14, totaling around $18.13 million. This significant insider purchase follows worse-than-expected quarterly earnings reported on May 2.
The large insider purchase suggests strong confidence in the company's future prospects despite recent poor earnings, likely leading to a positive short-term impact on the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
AMREP Corporation's 10% owner Rainey E. Lancaster bought 7,000 shares at an average price of $20.10, totaling around $140,671. This follows the company's report of earnings of 2 cents per share for its 2024 fiscal third quarter.
The insider purchase suggests confidence in the company's future despite recent low earnings, likely leading to a positive short-term impact on the stock price.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 100
POSITIVE IMPACT
Citi Trends' Interim CEO Kenneth Duane Seipel bought 282,644 shares at an average price of $19.03, totaling around $5.4 million. This follows the company's report of a narrower-than-expected quarterly loss.
The significant insider purchase by the Interim CEO suggests strong confidence in the company's future, likely leading to a positive short-term impact on the stock price.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100