Election Year Turbulence Boosts Gold Demand Don’t Miss This Miner. >> Get the ticker here! (Micro Cap Watch)
Always pay attention to insider buying.
After all, these are the folks that know their company the best. And if they’re confidently investing their own money in their stock, there’s usually a good reason for it.
Look at Bath & Body Works (SYM: BBWI), for example.
Currently sitting at double bottom support at $30, the oversold stock appears to have bottomed out. Helping, CEO Gina Boswell just picked up 6,000 shares at average price of $29.64 a share for $177,840. Even better, BBWI was just added to the S&P 600.
While the retailer stock does carry risk, it does appear that most the negativity has been priced into the stock. We believe it could be a strong turnaround story heading into 2025.
Marvell Technology (SYM: MRVL)
Chairman and CEO Matt Murphy recently picked up 13,000 shares of MRVL at an average price of $77.63 per share for just over $1 million. While the stock has become slightly overbought, it’s still a strong buy idea long term. That’s because artificial intelligence demand remains strong, with no clear signs of slowing. Plus, we have to consider that AI demands the specialized chips that companies like Marvell Technology produce.
Helping, analysts at Citi reiterated a buy rating on the stock with a $91 price target.
“Analysts led by Atif Malik noted that they expect upside to the consensus for Marvell in the second half of 2024 driven by strong custom application-specific integrated circuit, or ASIC, ramp up and continued strength in 800G optical demand,” as noted by Seeking Alpha.
Red Robin Gourmet Burgers (SYM: RRGB)
Over the last few weeks, President and CEO Gerard Hart bought 10,000 shares of RRGB for just over $616,782. He paid $3.15 per share on September 12.
While the stock did take a recent hit a wider than expected second quarter loss and lowered guidance, activist investor interest is pushing the stock higher. JCP Investment Partnership increased its active stake in Red Robin Gourmet Burgers to 11.3% from 8.7% through a series of transactions across several related buying parties, as noted by Seeking Alpha.
