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Will Insiders Be Tempted To Buy More BSY At The New 52-Week Low?

By Market News Video Staff, Friday, January 14, 4:11 PM ET
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In trading on Friday, shares of Bentley Systems Inc (NASDAQ:BSY) touched a new 52-week low of $38.34/share. That's a $33.58 share price drop, or -46.69% decline from the 52-week high of $71.92 set back on 09/15/2021. 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 BSY that means the stock would have to gain 87.58% to get back to the 52-week high. For a move like that, Bentley Systems 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 BSY 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, BSY has seen 2 different instances of insiders buying over the past six months.

Purchased Insider Title Shares Price/Share Value
12/02/2021 Gregory S. Bentley Chairman, CEO & President 21,033 $47.54 $999,992.57
12/02/2021 David J. Hollister See Remarks 5,319 $47.21 $251,109.99

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

Bentley Systems Inc Moving Averages Chart

Time will tell whether the insider purchases foretell a future rebound for BSY shares, which are presently showing a last trade of $39.04/share, slightly above the new 52-week low.

This Article's Word Cloud:   Bargains   Bentley   Chairman   Cheaper   David   Friday   Gregory   Here   Hollister   Insider   Insiders   Large   Oftentimes   President   Price   Purchased   Remarks   Share   Shares   Start   Systems   Than   That   Time   Title   Value   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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