Gary Greenfield, a director at Diebold Nixdorf (DBD), recently picked up 17,500 shares. The buy increased his holdings by 11 percent, and came to a total cost of $50,358.
The buy comes a day after the company’s President and CEO picked up 30,000 shares, shelling out $68,300. Company insiders were last active back in May, when the company CFO and a number of directors bought shares. The last insider sale occurred in 2021.
Overall, company insiders own 9.8 percent of shares.
The banking software company has sees a 75 percent drop in price over the past year. Revenues are down nearly 10 percent, and the company has been unprofitable.
Despite that poor performance, shares have been trending higher in recent weeks, and are nearly double off of their lows. The stock even continued higher after the company reported that it missed on its earnings expectations for the year.
Action to take: As a stock that’s taken a big hit, shares may be poised for a continued move higher from here. They may not go back to their old 52-week highs anytime soon, but with the company down far worse than its operational performance, it stands likely to continue to move higher.
For traders, the May $3.00 calls, last going for about $0.53, offer mid-double-digit returns in the months ahead.
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.