William Giles, a director at Floor & Décor Holdings (FND), recently added 2,000 shares. The buy increased his holdings by 51 percent, and came to a total price of $192,000.
The buy came a few days after another director bought 800 shares, paying over $77,000 to do so. Otherwise, insiders have been sellers at the company going back to May 2020.
Overall, company insiders own about 2.3 percent of shares.
Shares of the home flooring company are up about as much as the S&P 500 over the past year. Floor & Décor operates just 160 stores and 2 design studios across 33 states.
The company has seen revenue rise by 26 percent, and shares have moved from a valuation from 51 times forward earnings to 33 times forward earnings.
Action to take: Investors may like shares here, down more than one-third from their recent highs. The company is still growing and expanding locations. Shares don’t currently pay a dividend, but there’s room for more store expansions in the coming years.
For traders, the buy now looks like a compelling buy point for a trade higher, especially with markets looking oversold. The July $115 calls, last going for about $4.80, could deliver mid-to-high double-digit profits in the coming months.
Disclosure: The author of this article has no position in the company mentioned here, but may trade after the next 72 hours. The author receives no compensation from any of the companies mentioned in this article.