A company’s own top management tend to have the best inside view into the business, so when company officers make major buys, investors are wise to take notice. Presumably the only reason an insider would take their hard-earned cash and use it to buy stock of their company in the open market, is that they expect to make money — maybe they find the stock very undervalued, or maybe they see exciting progress within the company, or maybe both. So in this series we look at the largest insider buys by the ”top brass” over the trailing six month period, one of which was a total of $1M by Lourenco Goncalves, CEO at Cleveland-Cliffs Inc (Symbol: CLF).
| Purchased | Insider | Title | Shares | Price/Share | Value |
|---|---|---|---|---|---|
| 05/01/2024 | Lourenco Goncalves | Chairman, President & CEO | 60,000 | $16.76 | $1,005,666.00 |
Goncalves’s average cost works out to $16.76/share. Shares of Cleveland-Cliffs Inc were changing hands at $16.91 at last check, trading up about 1.4% on Thursday. The chart below shows the one year performance of CLF shares, versus its 200 day moving average:
Looking at the chart above, CLF’s low point in its 52 week range is $13.61 per share, with $22.97 as the 52 week high point — that compares with a last trade of $16.91.
Free Report: Top 8%+ Dividends (paid monthly)
Click here to find out which other top insider buys by the ”top brass” you need to know about »
Also see:
Contrarian Outlook
TUP YTD Return
MLAI YTD Return
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
