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

By Market News Video Staff, Monday, March 16, 1:07 PM ET
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In trading on Monday, shares of Western Alliance Bancorporation (NYSE:WAL) touched a new 52-week low of $24.74/share. That's a $34.20 share price drop, or -58.03% decline from the 52-week high of $58.94 set back on 01/24/2020. 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 WAL that means the stock would have to gain 138.24% to get back to the 52-week high. For a move like that, Western Alliance Bancorporation 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 WAL 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, WAL has seen 3 different instances of insiders buying over the past six months.

Purchased Insider Title Shares Price/Share Value
03/11/2020 James E. D. V. M. Nave Director 10,000 $32.99 $329,900.00
03/09/2020 Dale Gibbons Vice Chairman and CFO 2,000 $33.63 $67,260.00
03/09/2020 Kenneth Vecchione CEO 5,500 $32.98 $181,390.00

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 WAL has traded over the past year, with the 50-day and 200-day moving averages included.

Western Alliance Bancorporation Moving Averages Chart

Time will tell whether the insider purchases foretell a future rebound for WAL shares, which are presently showing a last trade of $25.96/share, a 4.93% rebound off of the new 52-week low.

This Article's Word Cloud:   Alliance   Bancorporation   Bargains   Chairman   Cheaper   Dale   Director   Gibbons   Here   Insider   Insiders   James   Kenneth   Large   Monday   NYSE   Nave   Oftentimes   Price   Purchased   Share   Shares   Start   Than   Western   back   below   business   company   from   high   insiders   last   level   means   over   past   percentage   price   rebound   share   shares   stock   that   trade   week   were   whether   with   would
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