Insider Activity Report: Advance Auto Parts (AAP)

Brent Windom, a director at Advance Auto Parts (AAP), recently bought 2,683 shares. The buy came to a total cost of $216,173, and is a new position for the director.

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  • The buy was followed up with a purchase of 310 shares from another director, who paid $21,168 to increase her position by 6%. These are the first insider buys of 2024. Last year, a number of company directors were buyers throughout the year, and a company EVP was also a buyer.

    Overall, Advance Auto Parts insiders own 1.1% of shares.

    The auto parts retailer has been knocked down 26% over the past year. The company has lost money overall, and also saw revenues drop 0.4%. That led to the dividend being cut by over 50%.

    Even with the company’s operations faring poorly, shares have been in an uptrend since late October. Improving fundamentals from here could continue to drive the share price higher.

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  • Action to take: Investors may like shares at current prices as a momentum play. Even with the dividend cut, Advance Auto Parts pays a 1.2% dividend yield.

    For traders, there’s likely more upside ahead. The July $100 calls, last trading for about $3.80, could see mid-double-digit returns in the months ahead on a further rally higher in shares from here.


    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.

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