Insiders Buy Lovesac Company and 3 Other Stocks – Lovesac (NASDAQ:LOVE), Amrep (NYSE:AXR)

While US stocks closed mixed on Thursday, there were some noteworthy domestic trades.

When insiders buy shares, it indicates that they have confidence in the company’s prospects or that they view the stock as a bargain. Either way, this signals an opportunity to go long the stock. Insider buying should not be considered the only indicator for making an investment or trading decision. At best, it can lend conviction to a purchasing decision.

Below is a look at some notable recent insider purchases. For more information, check out Benzinga’s insider trading platform.

Lovesac

• The profession: the Lovesac company LOVE Director Andrew R Heyer purchased a total of 22,000 shares at an average price of $19.85. These shares cost approximately $433,746 to purchase.
• What is going on: On April 17, Maxim Group analyst Tom Forte initiated coverage on Lovesac with a Buy rating and announced a $36 price target.
• What Lovesac does: Lovesac Co designs, manufactures and sells alternative furniture that includes modular sofas called sactionals and premium foam bean bag chairs called sacs.

Postal real estate fund

• The Commerce: Postal Realty Trust, Inc. PSTL CEO and director Andrew Spodek purchased a total of 10,000 shares at an average price of $13.50. It cost about $135,000 to purchase these shares.
• What is going on: On February 26, Postal Realty Trust reported positive quarterly sales.
• What the Postal Realty Trust does: Postal Realty Trust Inc is an internally managed real estate company that owns and manages properties leased to the United States Postal Service or USPS.

Don’t forget to check out our pre-market coverage here

Senior Living in the issue

• The Commerce: In the issue of Senior Living, Inc. SNDA President and CEO Brandon Ribar purchased a total of 3,000 shares at an average price of $28.72. These shares cost approximately $86,160 to purchase.
• What is going on: On March 27, Sonida Senior Living reported a fourth-quarter loss of $2.17 per share.
• What Sonida Senior Living does: Sonida Senior Living Inc is an owner-operator of senior living communities in the United States in terms of resident capacity.

AMREP

• The Commerce: AMREP Company AXR 10% owner Rainey E. Lancaster purchased a total of 2,542 shares at an average price of $21.77. The insider spent about $55,339 to buy those shares.
• What is going on: On March 8, AMREP reported earnings of 2 cents per share for fiscal third quarter 2024, compared to earnings of $3.12 per share a year ago.
• What AMREP does: Amrep Corp through its subsidiaries is engaged in the real estate business.