Insiders are still taking full advantage of dips.
Look at Weatherford International (SYM: WFRD), for example.
After plummeting from about $70 to a low of $36.73 thanks to lower oil prices, director Neal Goldman paid $505,000 for 12,000 shares at an average price of $42.04 per share. Helping, the company just declared a quarterly dividend of 25 cents per share, which is payable on June 5 to shareholders of record as of May 6.
Recent earnings weren’t too shabby either. EPS of $1.03 beat by three cents. Revenue of $1.19 billion, while down 12.5% year over year, was still in line with expectations.
FTAI Aviation (SYM: FTAI)
FTAI Aviation, which owns, acquires, and sells aviation equipment for the transportation of goods and people worldwide, just saw its Chairman and CEO buy 3,000 shares of $283,620. The company’s COO also bought 6,580 shares for just over $624,000.
Helping, analysts at Stifel just upgraded the oversold stock to a buy rating with a price target of $123. The company also declared a quarterly dividend of 30 cents, which is payable on May 23 to shareholders of record as of May 16.
Tesla (SYM: TSLA)
Tesla director Joe Gebbia paid just over $1 million for 4,000 shares of Tesla. He paid an average price of. $256.31 per share. Before this transaction, insiders last bought shares of Tesla in February 2020. However, that’s not its only near-term catalyst.
Elon Musk just said his time at DOGE will drop significantly, he said, adding, “Starting early next month, in May, my time allocation to DOGE [Department of Government Efficiency] will drop significantly.”
And, as noted by the BBC, “Tesla CEO Elon Musk has said he will step back from his role with the Trump administration’s cost-cutting team known as Doge. Those at the White House, including the president, have said it has long been the plan that Musk would soon step away, but the news came as the billionaire’s car business saw earnings plunge.”
Plus, analysts at Wedbush just raised its price target on TSLA to $350 with an outperform rating, citing Musk’s recommitment to Tesla.
