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New 52-Week Low Could Prompt More Insider Buying At APLE

By Market News Video Staff, Friday, March 24, 1:08 PM ET
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In trading on Friday, shares of Apple Hospitality REIT Inc (NYSE:APLE) touched a new 52-week low of $13.66/share. That's a $5.03 share price drop, or -26.91% decline from the 52-week high of $18.69 set back on 04/20/2022. Large percentage drops always require that the stock post even larger percentage gains from the low in order to recover the old price point, and for APLE that means the stock would have to gain 36.82% to get back to the 52-week high. For a move like that, Apple Hospitality REIT Inc would need fundamental strength at the business level.

Here's a rhetorical question: Who knows more about fundamentals at the business level than the company's own insiders? So let's take a look to see whether any company insiders were taking the other side of the trade as APLE shares were being sold down to this new 52-week low, focusing on the most recent trailing six month period. As summarized by the table below, APLE has seen 2 different instances of insiders buying over the past six months.

Purchased Insider Title Shares Price/Share Value
11/10/2022 Glade M. Knight Executive Chairman 5,000 $16.29 $81,425.00
11/17/2022 Howard E. Woolley Director 936 $16.03 $15,000.00
02/27/2023 Glade M. Knight Executive Chairman 5,000 $16.90 $84,498.03
03/14/2023 Howard E. Woolley Director 1,000 $15.54 $15,545.00

In the short run, while the new 52-week low suggests the stock is at the cheapest price and perhaps therefore the best bargain it has been over the last 52 weeks, the low print also means anyone who has purchased the stock over that timeframe is staring at an unrealized loss. Oftentimes, that factor drives a stock's technical analysis metrics by creating overhead resistance, with investors who bought higher now anxious to reverse their trade once they are back to breakeven. The chart below shows where APLE has traded over the past year, with the 50-day and 200-day moving averages included.

Apple Hospitality REIT Inc Moving Averages Chart

Time will tell whether the insider purchases foretell a future rebound for APLE shares, which are presently showing a last trade of $13.95/share, slightly above the new 52-week low.


This Article's Word Cloud:   APLE   Apple   Bargains   Chairman   Cheaper   Director   Executive   Friday   Glade   Here   Hospitality   Howard   Insider   Insiders   Knight   Large   NYSE   Oftentimes   Price   Purchased   REIT   Share   Shares   Start   Than   Woolley   back   below   business   company   from   high   insiders   last   level   means   over   past   percentage   price   share   shares   stock   that   trade   week   were   whether   with   would
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