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It’s always a good idea to keep track of insider buying.
After all, if insiders are willing to put their money where their mouths are, there’s usually a reason for it. Here are three stocks where insiders are bullish.
CVR Partners (SYM: UAN)
CVR Partners, a manufacturer of ammonia and urea ammonium nitrate solution fertilizer products, just saw 10% owner Carl Icahn buy a total of 23,315 shares for just over $1.8 million.
“The purchases were made at prices ranging from $70.72 to $72.36 per share. Following these transactions, Icahn's holdings in CVR Partners have increased to 141,844 shares. These acquisitions reflect Icahn's continued interest in CVR Partners, a company known for its involvement in the agriculture chemicals industry,” according to Investing.com.
Home Depot (SYM: HD)
After crumbling from about $420 to a low of about $345, Home Depot (HD) appears to have finally found a bottom and is starting to pivot higher. Helping, Home Depot director Gregory Brenneman paid $1 million on March 14, for 2,884 shares, at an average price of $346.66.
Also, in its most recent quarter, the company’s EPS of $3.13 beat estimates by nine cents. Revenue of $39.7 billion, up 14.1% year over year, beat by $630 million. “Sales for the fourth quarter of fiscal 2024 were $39.7 billion, an increase of $4.9 billion, or 14.1% from the fourth quarter of fiscal 2023. Comparable sales for the fourth quarter of fiscal 2024 increased 0.8%, and comparable sales in the U.S. increased 1.3%,” added Seeking Alpha.
The company also raised its quarterly dividend by 2.2% to $2.30 a share, which works out to $9.20 when annualized. Unfortunately, the stock did fall on guidance.
Intel (SYM: INTC)
Intel’s (INTC) new CEO Lip-Bu Tan just bought $25 million worth of stock within his first 30 days. He picked up 1,043,406 shares on March 21. According to Barron’s, “Lip Bu’s purchase reflects his belief in Intel and commitment to creating shareholder value.”
Helping, analysts at Bank of America just upgraded INTC after a “well-regarded CEO hire.”
“We believe INTC has a greater opportunity to restructure/turn things around under his leadership, with INTC’s strong incumbency/brand position in enterprise PC/server CPUs increasing the potential for success,” added Bank of America, as quoted by Seeking Alpha.
Editor's Choice: Apple just sold you out (for $20 billion).
It’s a deal that has iPhone users worried…
