10 Mid-Cap Stocks Insiders Are Buying Recently

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1. Smithfield Foods, Inc. (NASDAQ:SFD)

Number of Insiders Recently Buying: 10

Market Capitalization: $8.424B

This leading global food company and one of the world’s largest pork processors and hog producers just went public this January. This explains the huge insider trading activity, with as many as 10 insiders, including the President and CEO, CFO, and CBO recently buying its shares. Together they acquired $65.68 million worth of Smithfield Foods shares at a price of $20 per share. Currently, the stock is trading at $21.82 per share.

Simthfield’s director Long Wan bought 3.2 million shares, investing $64.00 million in the company. This indicates the management’s confidence in the company’s potential.

The company operates a diverse portfolio of well-known brands, including Smithfield, Eckrich, Nathan’s Famous, Farmland, Farmer John, and Armour. It has a long tradition, being founded back in 1936, as Smithfield Packing Company.

According to Wall Street Journal data, analysts have a favorable view of Smithfield Foods, with an average 12-month price target of $34.00, suggesting a potential upside from the current price. However, since the company just went public, more analyst data coverage is expected to develop over time.

Overall, SFD is first among the 10 mid-cap stocks insiders are buying recently. While we acknowledge the potential of SFD, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than SFD but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and Complete List of 59 AI Companies Under $2 Billion in Market Cap

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