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.
Plus, analysts at Wedbush just raised its price target on TSLA to $350 with an outperform rating, citing Musk’s recommitment to Tesla.
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Written by Ian Cooper