Insiders Have Been Aggressively Buying These Stocks
Key Points
It’s the insiders that know their company the best. And if they’re willing to put their money where their mouths are, you may want to pay attention to why.
Amcor
Oversold shares of global packaging stock Amcor (NASDAQ: AMKR) are also starting to pivot higher.
Helping, CEO Peter Konieczny bought 100,000 shares for $1 million. The stock was also upgraded to a buy rating at Truist, citing AMCR’s acquisition of Berry Global as a key catalyst.
“The company has multiple avenues at its disposal to drive more pronounced volume growth, EBITDA, and FCF post-acquisition of Berry Global, which we view as a transformational transaction,” Michael Roxland, analyst at Truist, said in a January 6 report. “At a minimum, it affords Amcor scale in key end markets where it had smaller penetration, including foodservice and beauty and personal care.”
In addition, analysts at Melius Research just raised their price target on AMKR to $19 from $16.
AMC Price at posting:
$14.07 Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)