Insiders Are Spending Big: 15 Stocks Leading in March

9. CVR Energy, Inc. (NYSE:CVI)

Total Value of Insider Purchases In March: $17.27 million

Market Capitalization: $2.2 billion

CVR Energy is a diversified holding company primarily focused on renewable fuels, petroleum refining, marketing, and nitrogen fertilizer manufacturing through its subsidiary, CVR Partners, LP. CVR Energy is one of billionaire hedge fund manager Carl Icahn’s top 10 stock picks.

In 2024, the company’s revenue amounted to $7.61 billion, reflecting a 17.7% decrease compared to the previous year’s $9.25 billion. Net income attributable to CVR Energy shareholders was $7 million, or 6 cents per diluted share, compared to net income of $769 million, or $7.65 per share in 2023. The adjusted loss was 51 cents per diluted share, compared to adjusted earnings of $5.64 per diluted share in the previous year.

In March, one insider acquired a total of $17.27 million worth of CVR Energy shares at an average price of $18.07 per share. The stock rose 14.62% since the beginning of the year and now trades at $21.48. Over the past 12 months, its shares lost 41.60%.

Twelve analysts rate CVR Energy, Inc. as a “Hold,” with a price target of $31.73, suggesting a potential upside of 44.77% from the latest price, writes MarketBeat.