Chris Ruble, COO at Forward Air Corp (FRWD), recently bought 1,433 shares The buy increased his stake by 5 percent, and came to a total price just under $100,000.
The buy came about a week after five different company directors bought shares in the 500 to 5,000 share range, with the largest buy coming to $321,650. Other company insiders have been active buyers earlier this year. The last insider sale occurred in May 2022.
Overall, insiders own about 1 percent of shares.
The freight logistics company is down about 30 percent in the past year. Revenues are down over 20 percent. That reflects the lower demand for goods in the economy in the past year, even as demand for services has kept overall consumer spending fairly strong.
However, even with that poor performance, shares look undervalued at current prices, with shares last going for less than 13 times earnings.
Action to take: Investors may like shares here, with an eye towards a rebound in shares to the $90 range, where insiders have been sellers of shares in the past. At current prices, Forward Air Corp shares yield about 1.3 percent.
For traders, shares look oversold here and ready to trend higher. The December $75 calls, last going for about $4.30, could see mid-to-high double-digit gains in the months ahead on a rebound in shares.
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.