Mike Spanos, a director at Casey’s General Stores (CASY) recently bought 267 shares. The buy increased his position by 11%, and came to a total cost of $100,440.
Spanos was the last insider to buy shares, with a 725 share buy back in January, at a total cost of $199,687. Otherwise, company insiders have been sellers of shares. That includes a $5 million sale from the company CEO, who reduced his stake by 15%. The company COO also sold.
Overall, Casey’s insiders own 0.6% of shares.
The convenience store owner and operator is up 32% over the past year, about in-line with the overall stock market.
Casey’s has been rapidly expanding its total locations in recent years, which has helped fuel share price growth. However, the underlying business has a 3.4% profit margin, on the thin side. And earnings and revenues are both up about 6% over the past year.
Shares also trade at 26 times earnings, a slight premium to the overall stock market.
Action to take: Casey’s shares have been trading sideways since June, and could be pausing before renewed momentum pushes shares higher. That makes the stock a speculative buy here.
Shares also pay a 0.5% dividend.
For traders, a longer-term uptrend may prevail in the months ahead. The February 2025 $400 calls, last trading for about $13.50, could see low-to-mid double-digit returns on a further uptrend into next year.
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 company mentioned in this article.
