Sears is soaring today, and there is, thankfully, an obvious reason (I hate when there isn’t one). In this case, it’s the news that Bruce Berkowitz’s Fairholme Capital Management bought 286,000 shares of the stock from March 23 to March 27, following CEO Eddie Lampert’s purchase of more than 500,000 last week.
That’s sent shares of Sears soaring 11% yesterday, and another 17% to $11.02 at 3:30 p.m. today, helped, no doubt, by investors covering their short positions in the stock.
We get why investors would be enthusiastic about these purchases. When insiders buy shares its a sign that they’re putting their money where there mouths are, and willing to bet on the prospects of the company. That was the case when JPMorgan Chase (JPM) CEO Jamie Dimon bought shares of his bank near the market low in Feb. 2016.
Best Bank Stocks To Buy Right Now: Towerstream Corporation(TWER)
- [By Lisa Levin]
Towerstream Corporation (NASDAQ: TWER) shares were also up, gaining 9 percent to $3.49. Towerstream is scheduled to report Q2 financial results on August 9, 2016.
Best Bank Stocks To Buy Right Now: Molex Incorporated(MOLX)
- [By Shauna O’Brien]
Shares of electronic connector maker Molex Incorporated (MOLX) skyrocketed on Monday morning after reports that the company will be acquired by Koch Industries.
Koch Industries has agreed to acquire Molex for a total of $7.2 billion. This deal will include all outstanding shares of the company’s Common Stock, Class A Common Stock and Class B Common Stock for $38.50 per share.
The deal has been approved by the board of directors of both companies. Molex will continue to maintain its current management team and its current headquarters in Lisle, IL.
Molex shares were up $9.15, or 31.17%, during Monday morning trading. The stock is up 41% YTD.
Best Bank Stocks To Buy Right Now: American Assets Trust, Inc.(AAT)
- [By Markus Aarnio]
Owens Realty Mortgage’s competitors include American Assets Trust (AAT), Alexandria Real Estate Equities (ARE) and Boston Properties (BXP). American Assets Trust has seen five insider buy transactions and four insider sell transactions this year. American Assets Trust has a dividend yield of 2.78%. Alexandria Real Estate Equities has seen 14 insider sell transactions this year. Alexandria Real Estate Equities has a dividend yield of 4.10%. Boston Properties has seen one insider buy transaction and four insider sell transactions this year. Boston Properties has a dividend yield of 2.43%.
Best Bank Stocks To Buy Right Now: Platinum Group Metals Ltd.(PLG)
- [By William Patalon III]
Our sub-$2 “Gold Market Anomaly” play – Platinum Group Metals Ltd. (NYSE: PLG) – took a hit of more than 12% Wednesday after the miner raised $20 million through a stock offering.
Best Bank Stocks To Buy Right Now: Grifols, S.A.(GRFS)
- [By Monica Wolfe]
Grifols SA (GRFS)
Paulsons fourth largest holding is in Grifols SA where he holds on to 19,786,279 shares of the companys stock. His position in the company represents 4% of his total portfolio and 5.76% of the companys shares outstanding.
Best Bank Stocks To Buy Right Now: Tencent Holdings Ltd (700)
- [By Belinda Cao]
Sohu.com Inc. (SOHU), which sold a stake in its search unit to Tencent Holdings Ltd. (700), advanced 11 percent for the week to $72.06. It retreated 5.9 percent Sept. 20. Tencent, Chinas biggest Internet company by market value, paid $448 million for a 36.5 percent stake in Sohus Sogou unit last week and merge its own search service with Sogou.