"Is Insider Buying Important? A well-known adage reminds us that corporate insiders and 10% owners really only buy shares of a company because they believe the stock price will rise and they want to profit from it. Thus, insider buying can be an encouraging signal for potential investors. This is all the more so during times of uncertainty in the markets, and even when markets are near all-time highs."
"This Arizona-based technical training services provider recently posted better-than-expected quarterly results. However, weak guidance dragged on the shares, and this beneficial owner took advantage to boost its stake to almost 3.8 million shares. The stock pulled back more than 22% after the earnings report, but it has recovered somewhat and was last seen trading within the purchase price range above. Analysts have a $37.33 mean price target, meaning they see 46.4% upside in the coming 12 months."
Beneficial owners have made the largest reported insider purchases so far in December in GE Aerospace, Hycroft Mining Holding and Universal Technical Institute. Insider buying tends to slow when markets are near all-time highs and during earnings season, but notable purchases continue to occur. Coliseum Capital Management, a 10% owner of Universal Technical Institute, purchased almost 1.3 million shares at $23.01 to $25.50 for more than $30.8 million, boosting its stake to nearly 3.8 million shares. Universal Technical Institute shares fell over 22% after earnings but later traded within the purchase range. Analysts show a $37.33 mean price target.
Read at 24/7 Wall St.
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