Here are some of the notable stocks that saw insider buying activity amid their earnings.
5. Consolidated Edison, Inc. (NYSE:ED)
Number of Hedge Fund Investors: 28
Consolidated Edison, Inc. (NYSE:ED) posted strong Q2 results on May 2. Adjusted EPS in the quarter totaled $2.15, beating estimates by $0.25. On April 30, Consolidated Edison, Inc.’s (NYSE:ED) SVP, GC, CFO and CEO had bought 25 shares each at $94.40 per share. Since then the stock is up 3.29%. Back in the December, Consolidated Edison, Inc.’s (NYSE:ED) SVP, Corporate Affairs had bought 246 shares of Consolidated Edison, Inc. (NYSE:ED) at $90.80 per share.
4. Rocket Companies Inc (NYSE:RKT)
Number of Hedge Fund Investors: 32
Rocket Companies Inc (NYSE:RKT) posted a strong first quarter report on May 2. Adjusted EPS in the quarter came in at $0.04, surpassing estimates by $0.03. Revenue jumped 36.1% to $1.2 billion, surpassing estimates by $180 million. The stock was seeing heavy insider buying activity last month. On April 15, Matthew Rizik, a director, bought 13,050 shares of Rocket Companies Inc (NYSE:RKT) at $11.69 per share. Since this transaction the stock has gained about 20%. Rizik also bought 1,029 shares of Rocket Companies Inc (NYSE:RKT) on April 29 at $12.28 per share. On May 2 the same director bought 97 shares of Rocket Companies Inc (NYSE:RKT).
3. Herbalife Ltd (NYSE:HLF)
Number of Hedge Fund Investors: 35
Herbalife Ltd (NYSE:HLF) posted strong numbers for the first quarter on May 1, beating estimates for both EPS and revenue. Herbalife Ltd (NYSE:HLF) earned $0.49 per share in the quarter, surpassing estimates by $0.12. Revenue in the quarter jumped 4% year over year to $1.3 billion, beating estimates by $30 million. On May 3, Donal L. Mulligan, a Director at Herbalife, bought a whopping 30,000 shares of Herbalife Ltd (NYSE:HLF) at $9.65 per share. Since then the stock is up 5%.
2. Vestis Corp (NYSE:VSTS)
Number of Hedge Fund Investors: 41
Uniforms and workplace supplies company Vestis Corp (NYSE:VSTS) posted weak numbers for the fiscal second quarter on May 2, missing estimates on both earnings and revenue. GAAP EPS in the quarter came in at $0.05, $0.13 below the estimates. Revenue totaled $705 million, missing analyst estimate by $18.06 million. The next day, two directors at Vestis Corp (NYSE:VSTS) swooped in to buy the stock. Douglas A. Pertz, a director at Vestis Corp (NYSE:VSTS), bought 110,000 shares at $10.02 per share. James Phillip Holloman, another director at Vestis Corp (NYSE:VSTS), bought 20,200 Vestis shares at $9.93 per share. Since then the stock has gained about 8%.
1. CVS Health Corp (NYSE:CVS)
Number of Hedge Fund Investors: 67
CVS Health Corp (NYSE:CVS) shares fell and the stock received downgrades from Wall Street after CVS Health Corp (NYSE:CVS) posted weak Q1 results on May 1. CVS’s adjusted EPS in the period came in at $1.31 missing estimates by $0.39. Revenue jumped 3.7% year over year to $88.4 billion, missing estimates by $800 million. Insiders were quick to buy on the dip as on May 2, Michael F. Mahoney, a director at CVS Health Corp (NYSE:CVS), piled into 9,181 shares of CVS Health Corp (NYSE:CVS) at $54.49 per share. The total value of this transaction was $500,294. Since this transaction the stock price is up 1%.
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