9.5% gains since last week, Inside buying continues

Welcome to Insider Insights!

Before we take a look ahead, let’s take a look at last week’s Insider Buy of the Week: Appian (ticker: APPN)

Our last issue was published 7/15, since then, the stock price has grown roughly 9.5% and Insider buying has continued this week, with Abdiel Capital Advisors, LP buying an estimated $10.5 million more.

Insider Buy of the week

Company: Citi Trends (ticker: CTRN)

Market Cap: $168 million⁽¹⁾

Trading at: $19.30⁽¹⁾

Buyer: Fund 1 Investments, LLC

Purchase Details:

7/15/24: Bought $60,000 worth of shares at $20.06 a share

Analysis:

Fund 1 Investments’ buy isn’t a staggering amount, but it does line up with a swath of other insider buying that has been happening over the past several months. Fund 1 investments has been buying shares just about every week for the past several months, each purchase ranging from $400,000 to $4.3 million ⁽²⁾

The companies Interim CEO has also been buying heavily, purchasing $5.3 million⁽²⁾ in shares just 2 weeks ago.

With such a small market cap and the steady stream of insider buying over the past several months, there seems to be something cooking under the hood that the rest of us don’t know just yet. The interim CEO buying a hefty bag also shows a strong sign of confidence in the company, something that’s great to see.

(1) https://finance.yahoo.com/quote/CTRN/

(2) http://www.openinsider.com/CTRN

Thanks for snooping,

let me know if I missed any insider trades that were on your radar!

-Insider Insights

Note: Nothing contained in this work is investment advice. Please do your own diligence when considering any financial investments. All investments are at your own risk. As of date of publishing, the writer has no vested interest in any of the assets mentioned above.