Remember to always keep an eye on insider buying.
Here’s where insiders have been putting their money where their mouths are.
Ameresco (SYM: AMRC)
On March 6, President and CEO George Sekellaris picked up 25,000 shares for $231,750. He also picked up 50,000 shares for $487,000 and another 50,000 shares for $498,000.
Days before the buy, the stock took a dive from about $18 to $9.29. All after the energy and renewable energy company posted weak fourth quarter numbers, and said that full-year EBITDA and guidance fell short of estimates.
Now oversold, it appears a good deal of negativity has now been priced into the stock.
Fulgent Genetics (SYM: FLGT)
After plummeting from about $23 to a recent low of $14.50, Fulgent Genetics (FLGT) is showing signs of life again. Most recently, CFO and Treasurer Paul Kim picked up 100,000 shares for just under $1.6 million.
Helping, the company just posted EPS of four cents, which beat estimates by 16 cents. Revenue of $76 million, up 7.8% year over year, beat by $1.14 million.
International Flavors & Fragrances (SYM: IFF)
IFF CEO Erik Fyrwald just picked up 25,000 shares for just over $2 million.
Now oversold at $82.06, it’s starting to pivot higher after catching strong support at $78.91. From here, we’d like to see IFF retest $88. It’s also starting to pivot from over-extensions on RSI, MACD and Williams’ %R. Fueling even more interest, the company declared a dividend of 40 cents per share, which is payable April 11 to shareholders of record as of March 21.
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Written by Ian Cooper