Beat Kahli, a director and major holder of VOXX International (VOXX), recently added 10,000 shares. The buy increased his holdings by 0.2 percent, and came to a total price of $105,000.
That adds on top of other buys from this same major holder throughout the month, totaling over 140,000 shares at a cost of about $1.4 million, and further buys going back into 2021. In the same timeframe, there has been only one small insider sale.
Overall, insiders own 33.3 percent of the company.
Shares of the consumer electronics group, which mostly focuses on automotive electronics, have shed nearly 45 percent of their value in the past year.
The company has been a bit haphazard with earnings, with shares trading between 7- and 14-times earnings over the past year in the quarters the company reported a profit.
Action to take: High insider ownership and continued buys on the latest drop point to a potential winner for investors here. The increased amount of consumer electronics in cars is a trend likely to continue, and today’s investors can buy shares well off their early 2021 speculative highs.
For traders, shares have flatlined over the past few months after a long drop. It may be prudent to hold off on trades until a bull market in the stock is underway. If such a sign happens soon, traders may like the May $12.50 options. Last going for about $1.02, any further drop or flatline in shares could make these options cheaper to buy into.
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.