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Over $1M Bet On This Consumer Cyclical Stock? Check Out These 3 Stocks Insiders Are Buying

Author: Avi Kapoor | April 15, 2024 06:19am

Although U.S. stocks closed lower on Friday, there were a few notable insider trades.

When insiders purchase shares, it indicates their confidence in the company's prospects or that they view the stock as a bargain. Either way, this signals an opportunity to go long on the stock. Insider purchases should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a buying decision.

Below is a look at a few recent notable insider purchases. For more, check out Benzinga's insider transactions platform.

MasterCraft Boat Holdings

  • The Trade: MasterCraft Boat Holdings, Inc. (NASDAQ:MCFT) 10% owner Adam Gray acquired a total of 72,608 shares an average price of $21.74. To acquire these shares, it cost around $1.58 million.
  • What’s Happening: On March 4, MasterCraft Boat Holdings named Brad Nelson as CEO.
  • What MasterCraft Boat Does: MasterCraft Boat Holdings Inc designs, manufactures, and markets performance sport boats and outboard boats.

Citi Trends

  • The Trade: Citi Trends, Inc. (NASDAQ:CTRN) 10% owner Pleasant Lake Partners LLC acquired a total of 62,282 shares at an average price of
  • $22.99. To acquire these shares, it cost around $1.43 million.
  • What’s Happening: On March 19, Citi Trends reported worse-than-expected fourth-quarter financial results.
  • What Citi Trends Does: Citi Trends Inc is a retailer of urban fashion apparel and accessories in the United States.

Don’t forget to check out our premarket coverage here

Postal Realty Trust

  • The Trade: Postal Realty Trust, Inc. (NYSE:PSTL) CEO and Director Andrew Spodek bought a total of 10,000 shares at an average price of $13.75. To acquire these shares, it cost around $137,500.
  • What’s Happening: On Feb. 26, Postal Realty Trust posted upbeat quarterly sales.
  • What Postal Realty Trust Does: Postal Realty Trust Inc is an internally managed real estate corporation that owns and manages properties leased to the United States Postal Service, or the USPS.

 

Check This Out: M&T Bank Earnings Are Imminent; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call

Posted In: CTRN MCFT PSTL


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