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Bargain Hunters Take Note: Insider Cluster-Buying At DAR
By Market News Video Staff, Monday, November 20, 10:48 AM ET
A particularly strong insider buying signal is what we call a "cluster-buy" where three or more different insiders make open market purchases within a short period of one another. At Darling Ingredients Inc (NYSE:DAR), 3 different insiders purchased 13,313 shares at an average price of $44.29/share, for a total of $589,688, with the most recent purchase on November 13, 2023.
Presumably the only reason an insider would take their hard-earned cash and use it to buy stock of their company in the open market, is that they expect to make money. So when multiple insiders all decide to make purchases around the same time, it could be a strong indication that the stock is undervalued. Below is a table summarizing the insider buys that make up this "cluster":
Purchased
Insider
Title
Shares
Price/Share
Value
11/13/2023
Patrick McNutt
EVP Chief Admin Officer
1,200
$41.88
$50,256.00
11/15/2023
Matthew J. Jansen
COO North America
11,113
$44.80
$497,862.40
11/13/2023
Charles L. Adair
1,000
$41.57
$41,570.00
The chart below shows the one year performance of DAR shares, versus its 200 day moving average. Note that DAR's low point in its 52 week range is $38.965 per share, with $73.88 as the 52 week high point — that compares with a last trade of $43.35, with shares currently trading off about 0.7% on the day.
This Article's Word Cloud:AdairAdminAmericaBargainsBelowCharlesCheaperChiefDarlingDaysDollarsIngredientsInsiderInsidersJansenJoinMatthewMcNuttNYSENorthNoteNovemberOfferOfficerPatrickPresumablyPricePurchasedSevenShareSharesSpecialaverageclusterdifferentinsiderinsidersmakemarketopenpointpurchasessharesharesstockstrongthattheirweekwith
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