The Dow Jones index closed higher by over 100 points on Thursday. Insiders purchasing or selling shares can be a signal of their confidence or concern about a company’s future. For investors eyeing penny stocks, such actions can be a key consideration.
Let’s delve into recent notable insider transactions for penny stocks.
Positive Outlook: Entravision Communications
- Insider Move: The CEO of Entravision Communications Corporation acquired 100,000 shares at an average price of $1.67, totaling approximately $167,250.
- Recent Development: Entravision Comms reported upbeat quarterly sales on March 5.
- Description: Entravision Communications Corp is a global media company involved in television, radio, digital properties, and data analytics services.
Gaining Momentum: AmBase
- Insider Action: Barc Investments LLC, a 10% owner of AmBase Corporation, acquired 44,200,460 shares at an average price of $0.20, totaling around $8.84 million.
- Recent Movement: The company’s stock surged about 42% in the past month.
- Description: Ambase Corp is a US-based holding company with interests in real estate development in New York, New York.
Explore This: Gap, Genesco And 3 Stocks To Watch Heading Into Friday
Potential Growth: Charles & Colvard
- Insider Purchase: The President and CEO of Charles & Colvard, Ltd. bought 15,000 shares at an average price of $0.37, amounting to about $5,550.
- Recent News: On February 13, Charles & Colvard reported a quarterly loss of 9 cents per share.
- Description: Charles & Colvard Ltd specializes in manufacturing, marketing, and distributing finished jewelry with moissanite gemstones.
Strategic Move: CommScope Holding
- Insider Purchase: Claudius E. Watts IV, a Director at CommScope Holding Company, Inc., acquired 15,000 shares at an average price of $1.05, totaling approximately $15,770.
- Recent Development: CommScope announced intentions to expand its US-based manufacturing capabilities for fiber connectivity products.
- Description: CommScope Holding Co Inc is a provider of infrastructure solutions for communication, data center, and entertainment networks.