5 hot insider trades: Kohl's climbs on CEO's $2M purchase | Pro Recap
By Davit Kirakosyan
Investing.com -- Here is your Pro Recap of some of the biggest insider trades from the past week you may have missed.
Kohl's CEO buys $2 million worth of shares
Kohl’s (NYSE:KSS) shares rose more than 3% on Thursday after CEO Thomas Kingsbury disclosed the purchase of about $2M of the company’s shares.
The stock was initiated at Goldman Sachs in January with a Sell rating and a price target of $27.00. The company will report its Q1/24 earnings results on May 23.
Shares gained more than 9% this week.
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United Natural Foods shares surge on CEO’s $1M stock purchase
United Natural Foods (NYSE:UNFI) shares jumped more than 8% on Monday after CEO Alexander Douglas disclosed the purchase of 45,168 shares, or more than $1M worth, at $22.22.
The company reported a Q2 EPS miss last month, as well as guided 2023 EPS significantly below the consensus estimates. Following the report, UBS downgraded the stock to Neutral from Buy and cut its price target to $32.00 from $48.00.
Shares closed the week with a nearly 15% gain.
Purple Innovation gained on COO share purchases
Purple Innovation (NASDAQ:PRPL) shares gained nearly 8% on Tuesday following COO Eric Scott Haynor’s purchase of 138,597 shares, or $381,129 worth, at $2.7499.
The company reported its Q4 earnings last month, with EPS missing the consensus estimates, while revenues came in slightly better than expected. 2023 revenue guidance was also above the consensus estimate.
2 more insider buys
Calavo Growers (NASDAQ:CVGW) CEO Lecil Cole disclosed it had purchased about $1.4M in the company’s stock. Shares gained more than 7% this week.
High Tide (NASDAQ:HITI) announced that certain officers, directors, and consultants, led by the company’s President and CEO, purchased a total of 258,921 common shares between March 24 and March 29 at an average price of $1.59 per share.
With these purchases, insiders and certain consultants, in the aggregate, now own or control 7,222,342 common shares, which represents around 9.67% of the company’s total outstanding shares.
Shares closed the week with more than a 23% gain.
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