We recently published a list of 10 Stocks With At Least $10 Million In Insider Spending Recently. In this article, we are going to take a look at where Sunrise Realty Trust, Inc. (NASDAQ:SUNS) stands against other stocks with at least $10 million in insider spending recently.
Since Donald Trump took office, the stock market has experienced a roller coaster ride. Nonetheless, despite concerns about tariffs, job cuts, policy changes, and geopolitical uncertainties, the broader market has risen by 1.46% year-to-date. Furthermore, equity strategists in a Reuters poll project that the broader market will finish the year 9% higher than its current level.
“Many analysts agree with this projection, arguing that the Trump administration’s policies won’t have long-term negative impacts on economic growth or inflation. Furthermore, Trump is often considered the most pro-stock market president in American history.
In addition, one factor that could support the bull market is the adoption of AI, which, according to Morgan Stanley’s Andrew Slimmon, could lead to a productivity boom similar to what happened with the Internet in the late 1990s. Slimmon also points out that investor behavior over the last few years seems similar to what it was in previous bull markets, and adhering to these patterns can be one of the most reliable strategies for driving portfolio outperformance.
When analyzing investor behavior, we chose to focus on insiders—high-level executives and directors within a company. Why focus on insiders? Because they often have valuable insights into a company’s strategy, plans, and next moves. For example, when a CEO or CFO invests their own money in company shares, it can signal strong confidence in the company’s potential.
While both insider buying and selling can be driven by various motives, it’s important to consider these actions in the context of the company’s fundamentals, industry trends, and market conditions. This is why due diligence is crucial before making any investment. However, insider trading activity, along with other relevant factors, can offer valuable insights into a company’s capabilities, helping investors make more informed decisions.
What stocks have seen at least $10 million in insider spending recently? To find out, we used Insider Monkey’s insider trading stock screener, focusing on stocks where at least one insider purchase since the beginning of the year was valued at $10 million or more. Although the total value of insider purchases during this period may be higher, only those worth $10 million or more were considered in this search. Since there were more than 10 stocks meeting this criteria, we selected the 10 stocks with insider purchases ranging from $10 million to $20 million, choosing those with the highest amounts within this range for further analysis.
Our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds, focusing on insider trading and stock picks from hedge fund investor newsletters and conferences. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here).
For each stock, we provide details on the highest individual purchase, the number of insider purchases between $10 million and $20 million since the start of the year, and the company’s current market capitalization.
Copyright: jovannig / 123RF Stock Photo
Sunrise Realty Trust, Inc. (NASDAQ:SUNS)
Highest Individual Purchase: $12,000,000.00
Number of Purchases Worth Between $10 million and $20 million: 1
Market Capitalization: $155.35 million
Sunrise Realty Trust, Inc. (NASDAQ:SUNS) is an institutional lender that originates and funds loans to commercial real estate projects in the Southern United States. The West Palm Beach, Florida-headquartered company focuses on loans with investment rates in the mid-teens.
On January 29th, M. Leonard Tannenbaum, the executive chairman at Sunrise Realty Trust, acquired $12 million worth of the company’s shares at a price of $12 per share. With this purchase of 1 million shares, Tannenbaum increased his holdings to 2.43 million shares.
The stock is currently trading at $12.18 per share, having lost 13.49% year-to-date. At the start of the year, the stock was trading around $13 to $14 per share, so it is possible that the insider used the current drop in price to acquire more shares, demonstrating strong confidence in the company’s future.
In January, the company announced it has committed $30.8 million to a $41.0 million note-on-note bridge loan. This loan is for the full repayment of an existing senior mortgage on a mixed-use asset, featuring senior living, medical office, and retail located in an upscale suburb of Miami, Florida.
More recently, Sunrise Realty Trust (NASDAQ:SUNS) confirmed it has closed on a $44 million commitment to a $74.5 million senior loan originated by the TCG Real Estate platform for the construction of Shell Plaza in New Orleans.
Two analysts have an average “Strong Buy” rating on Sunrise Realty Trust stock, with a 12-month stock price target of $15.0. This represents an increase of 23.15% from the latest price, according to Stock Analysis.
Overall, SUNS ranks 9th on our list of stocks with at least $10 million in insider spending recently. While we acknowledge the potential of SUNS, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than SUNS 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
Disclosure: None. This article is originally published at Insider Monkey.