Mary Dillon, President and CEO at Foot Locker (FL), recently added 5,510 shares. The buy increased her stake by 4 percent, and came to a total cost of $100,117.
Dillion previously bought over 22,000 shares back in March, paying just under $751,000 to do so. Since then, there have been no other insider transactions. Back in February and into 2022, insiders were largely sellers of shares, including company executives as well as a major shareholder.
Overall, insiders own 1.7 percent of shares.
The footwear and sports apparel retail chain has seen shares drop by 54 percent over the past year, far in excess than the 10 percent slide in revenues. In its most recent quarter, shares traded at 11 times earnings, about half the multiple of the overall stock market.
Action to take: Shares have been repeatedly knocked down over the past year, and shares have just moved to a five-year low.
Investors interested in shares should wait for an uptrend to start before building a position, as there may be more downside ahead. At present, Foot Locker does not pay a dividend.
For traders, shares may look like a value, but they’re still trending lower. The November $17.50 puts, last going for about $2.00, are a near-the-money trade that could see mid-double-digit returns in the coming months.
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.