Insiders Buying Lovesac Company And 3 Other Stocks

Author: Avi Kapoor | April 19, 2024 07:29am

Although U.S. stocks closed mixed on Thursday, 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.

Lovesac

• The Trade: The Lovesac Company (NASDAQ:LOVE) Director Andrew R Heyer acquired a total of 22,000 shares an average price of $19.85. To acquire these shares, it cost around $433,746.
• What's Happening: On April 17, Maxim Group analyst Tom Forte initiated coverage on Lovesac with a Buy rating and announced a price target of $36.
• What Lovesac Does: The Lovesac Co designs, manufactures and sells alternative furniture which is comprised of modular couches called sactionals and premium foam beanbag chairs called sacs.

Postal Realty Trust

• The Trade: Postal Realty Trust, Inc. (NYSE:PSTL) CEO and Director Andrew Spodek acquired a total of 10,000 shares at an average price of $13.50. To acquire these shares, it cost around $135,000.
• 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.

Don’t forget to check out our premarket coverage here

Sonida Senior Living

• The Trade: Sonida Senior Living, Inc. (NYSE:SNDA) President and CEO Brandon Ribar bought a total of 3,000 shares at an average price of $28.72. To acquire these shares, it cost around $86,160.
• What's Happening: On March 27, Sonida Senior Living posted a fourth-quarter loss of $2.17 per share.
• What Sonida Senior Living Does: Sonida Senior Living Inc is an owner-operator of senior housing communities in the United States in terms of resident capacity.

AMREP

• The Trade: AMREP Corporation (NYSE:AXR) 10% owner Rainey E. Lancaster bought a total of 2,542 shares at an average price of $21.77. The insider spent around $55,339 to buy those shares.
• What's Happening: On March 8, AMREP reported earnings of 2 cents per share for its 2024 fiscal third quarter, versus year-ago earnings of $3.12 per share.
• What AMREP Does: Amrep Corp through its subsidiaries is engaged in the Real estate business.

Posted In: AXR LOVE PSTL SNDA