Always keep an eye on insider buying.
If insiders are putting their money where their mouths are, dig a bit deeper into why. However, don’t just use insider buying as your sole reason to buy. Dig into the company’s fundamentals, and see how the stock has been performing technically.
That being said, here’s where insiders are putting their money to work.
UnitedHealth Group (SYM: UNH)
On January 17, director Timothy Flynn bought 1,000 shares of UNH for $511,575. This was the first buy since the murder of CEO Brian Thompson.
Technically, after finding strong support at around $475, the stock is just starting to pivot higher. Last trading at $545.57, we’d like to see UNH refill its bearish gap at around $610. Also, analysts at Bernstein issued a buy rating on UNH with a price target of $697.
Adobe (SYM: ADBE)
In early January, Director David Ricks bought 2,250 shares of ABDE for just under $1 million.
Considering just how oversold ADBE is at $446, we’d follow the insider here. After finding support at $403.75, the stock is now up to $446. From here, we’d like to see the stock initially retest $480 a share. We also believe the negativity over poorly received fourth quarter earnings and guidance have been fully baked into the stock.
Sunrise Realty Trust (SYM: SUNS)
Sunrise Realty Trust Chairman Leonard Tannenbaum just bought a million shares of SUNS in late January. He paid $12 million. This comes after the stock pulled back from about $14.50 to $10.50 a share. Now back to $12, we’d like to see SUNS rally back to $14.50 initially.
The stock also yields 14%.
Most recently, the company declared a regular cash dividend of $0.42 per common share for the fourth quarter of 2024 based on visibility into the growth of the Company’s loan portfolio. The dividend was paid out on January 15. More are on the way.
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