This article presents an overview of Insiders are Amassing These 5 Stocks in April. For a detailed overview of such stocks read our article, Insiders are Amassing These 10 Stocks in April.
5. Greif Inc Class A (NYSE:GEF)
Number of Hedge Fund Investors: 15
Ohio-based manufacturing company Greif Inc Class A (NYSE:GEF) makes packaging solutions. The stock has gained about 5% over the past one year. Greif Inc Class A’s (NYSE:GEF) EVP and General Counsel Gary R Martz on April 2 bought 4,918 shares of Greif Inc Class A (NYSE:GEF) at $68.97 per share. Since then the stock is down 4.5%
As of the end of the last quarter of 2023, 15 hedge funds tracked by Insider Monkey had stakes in Greif Inc Class A (NYSE:GEF).
4. Flowers Foods Inc (NYSE:FLO)
Number of Hedge Fund Investors: 26
Packaged bakery items company Flowers Foods Inc (NYSE:FLO) recently saw insider buying activity when Edward J. Casey Jr., a director at Flowers Foods Inc (NYSE:FLO), on April 2 bought 5,000 shares of Flowers Foods Inc (NYSE:FLO) at $23.55 per share. Since April 2 through April 7 the stock price has seen a decrease of about 1.49%.
3. Simon Property Group Inc (NYSE:SPG)
Number of Hedge Fund Investors: 27
Simon Property Group Inc (NYSE:SPG) ranks third in our list of the stocks insiders are buying in April 2024. On April 1, Reuben S. Leibowitz, a director at Simon Property Group Inc (NYSE:SPG), bought 438 shares of Simon Property Group Inc (NYSE:SPG) at $154.19 apiece. The total worth of this transaction was $67,535. Since then the stock is down 2.17%.
2. SentinelOne Inc (NYSE:S)
Number of Hedge Fund Investors: 33
California-based cybersecurity company SentinelOne Inc (NYSE:S) saw insider buying activity earlier in April when Mark S. Peek, a director at SentinelOne Inc (NYSE:S), bought 10,000 shares of SentinelOne Inc (NYSE:S) at $22.36 per share. The total value of this transaction was $223,596 per share. The transaction took place on April 3. Since then the stock is up 1.1%.
Baron Discovery Fund stated the following regarding SentinelOne, Inc. (NYSE:S) in its fourth quarter 2023 investor letter:
“SentinelOne, Inc. (NYSE:S) is a cybersecurity software company that specializes in endpoint protection, cloud security, and security data analytics. Shares rose on outstanding quarterly financial results and strong guidance. SentinelOne is one of the fastest growing public cybersecurity companies, with revenue expected to grow more than 46% this fiscal year. Growth has been driven by a combination of: 1) market share capture from legacy endpoint vendors that struggle to compete against SentinelOne’s AI-enabled platform; 2) an ongoing shift of Information Technology (IT) infrastructure to the cloud driving demand for cloud application protection (growing triple digits); and 3) cybersecurity vendor consolidation favoring end-to-end platforms with comprehensive security portfolios over single-point solutions. The company is also leveraging its single data store and AI capabilities to cross-sell more products into its existing customer base and increase average sale prices. Between larger deal sizes and improving operating efficiencies, we believe the company can continue to expand margins at a significant rate and begin generating positive free cash flow in the next fiscal year.”
1. Dollar Tree Inc (NASDAQ:DLTR)
Number of Hedge Fund Investors: 39
Dollar Tree Inc (NASDAQ:DLTR) ranks first in our list of the stocks insiders are piling into in April 2024. Jeffrey A. Davis, the CFO of Dollar Tree Inc (NASDAQ:DLTR), on April 1 loaded up on 1800 shares of Dollar Tree Inc (NASDAQ:DLTR) at $136.00. Since then the stock price has declined 3.8%.
Out of the 933 funds tracked by Insider Monkey, 39 hedge funds reported owning stakes in Dollar Tree Inc (NASDAQ:DLTR). The most notable stake in Dollar Tree Inc (NASDAQ:DLTR) is owned by Paul Hilal’s Mantle Ridge LP which owns a $1.72 billion stake in Dollar Tree Inc (NASDAQ:DLTR).
The London Company Mid Cap Strategy stated the following regarding Dollar Tree, Inc. (NASDAQ:DLTR) in its fourth quarter 2023 investor letter:
“Dollar Tree, Inc. (NASDAQ:DLTR) – DLTR shares outperformed in 4Q as the business demonstrated share gains, progress on the rollout of multi-price assortment, and bold capital allocation with a large stock buyback during the third quarter. We believe the investments the company has made over the last year will continue to support higher returns going forward. Further, we view valuation as attractive on a sum-of-the-parts basis and have conviction in the management team, which now consists of the best operators in the retail industry.”
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