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Insider Buying Signals: BioLife Solutions, AMREP, and Carnival

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Insider Buying Signals: BioLife Solutions, AMREP, and Carnival

Introduction

U.S. stock markets closed with mixed results on Monday, but it’s worth noting the recent insider trades that took place. When insiders buy shares of a company, it often signals their confidence in its prospects or that they see it as a good value. While insider purchases shouldn’t be the sole basis for investment decisions, they can provide conviction for investors. In this article, we’ll explore three recent notable insider purchases and the potential implications for these companies.

BioLife Solutions – A Strong Signal of Confidence

  • The Trade: BioLife Solutions, Inc. (NASDAQ: BLFS) 10% owner Eli Casdin acquired a total of 927,165 shares at an average price of $11.19, amounting to a $10.37 million investment.
  • What’s Happening: BioLife Solutions recently appointed Roderick de Greef as CEO and Chairman of the Board.
  • What BioLife Solutions Does: BioLife Solutions is a healthcare company focused on developing, manufacturing, and marketing biopreservation tools and services for cells, tissues, and organs. Their portfolio includes clinical-grade storage and cryopreservation freeze media, as well as a cloud-based biologistics cold chain management application.

AMREP – Opportunity in the Real Estate Market

  • The Trade: AMREP Corporation (NYSE: AXR) Director Robert Robotti acquired 3,392 shares at an average price of $16.48, totaling approximately $55,908.
  • What’s Happening: AMREP reported net income of $1,346,000, or $0.25 per diluted share, for the first quarter of its 2024 fiscal year ended July 31, 2023.
  • What AMREP Does: AMREP is primarily involved in the real estate business, focusing on land sales and lease activities. They sell developed and undeveloped lots to homebuilders, commercial users, and others, as well as invest in commercial and investment properties.

Carnival – Cruising Towards Recovery

  • The Trade: Carnival Corporation (NYSE: CCL) Director Randall J. Weisenburger purchased 100,000 shares at an average price of $11.50, amounting to a $1.15 million investment.
  • What’s Happening: UBS analyst Robin Farley maintained a Buy rating on Carnival and lowered the price target from $23 to $20.
  • What Carnival Does: Carnival is the largest global cruise company, operating 90 ships as of the end of fiscal 2022. As the travel industry recovers, Carnival’s fortunes are closely tied to the resurgence of the cruise industry.

Insider buying can provide valuable insights for investors looking for potential opportunities. While it’s important to conduct thorough research and consider other factors before making investment decisions, these insider purchases may signal positive prospects for BioLife Solutions, AMREP, and Carnival.