Insider buying slowed down this past week, but it’s still at a heightened level. CFOs in particular should have a handle on their own company’s prospects, which is why insider trades from that position are great to watch. Right now the markets are trying to determine whether the economy will enter a recession or not, but the high level of insider buying shows that executives are optimistic at these specific companies. Below are eight stocks with recent CFO buys. Information is courtesy of SECForm4.com.
Imperial Holdings (IFT): Imperial Holdings is a specialty finance company providing financing for life insurance policies issued by insurance companies. The company went public in February, pricing their IPO at $10.75. Share now trade for $7.50. CFO Rory O’Connell bought 7,500 shares on August 17 and 18 at an average price of $7.89. At least one analyst thinks the company is significantly undervalued. Wunderlich Securities has a $16 price target on the stock.
Two Harbors Investments (TWO): CFO Jeffrey Stolt joined seven other insiders by purchasing shares over the last two weeks. Stolt bought 5,000 shares on August 18 at an average purchase price of $9.58. Two Harbors is one of hedge fund manager Whitney Tilson’s top holdings. The company is a REIT focused on residential mortgage loans. The company declared a $0.40 quarterly dividend for the second quarter. If they’re able to keep that up for the year, shares would yield 17%.
ValueVision Media (VVTV): Shares of this $155 million market cap electronics retailer are down 60% over the past month. CFO William McGrath bought 14,500 shares on August 18 for $3.40 per share. The transaction totaled $49,300. McGrath was joined by three other executives who bought shares over the past week.
Black Box (BBOX): Black Box is a $405 million market cap networking equipment seller. Shares
