Calavo Growers (CVGW) was Smart Insider's stock pick of the week after the company's Chief Executive Lecil Cole purchased $2.4 million worth of Calavo Growers' shares this month at $24.40 apiece, raising his ownership by 20%.
Cole bought $4.9 million worth of the company's shares in 2023 at an average price of $28 per share and it is "interesting to see him add another 20% to his holdings at a slightly lower price," Smart Insider said in a note Tuesday.
Additionally, Chief Financial Officer James Snyder spent $75,000 at $23.33 a share, marking his first purchase, while Senior Vice President of Sales & Operations Michael Browne bought $258,000 worth of company shares in April for an average price of $23.43 apiece, the note added.
"This is a solid cluster of buying from three key officers," the note said, adding that all three executives bought the shares after April 3, when the Trump administration proposed new tariffs.
Smart Insider ranked the stock +1, or strongly positive signal, on April 21.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.