Insider Trading Report: Nike (NKE)

John Rogers, a director at Nike (NKE), recently added 10,000 shares. The buy increased his by nearly 64 percent, and came to a total cost of just over $1.02 million.

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  • This marks the first insider buy at the company since early 2020. Company insiders, including both executives and directors, have been sizeable and regular sellers of shares over the past three years.

    Overall, insiders at the company own about 1.2 percent of shares.

    The athletic apparel company has slid 37 percent in the past year. Earnings and revenue have turned flat over the same timeframe. And a further decline in earnings may be in the cards in the next few quarters as the economy continues to slow.

    Action to take: As a global leader in athletic apparel and footwear, shares are worth buying for the long haul… at the right price. The stock has gone from 64 times earnings to 22 times forward earnings.

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  • Interested buyers can likely pick up shares for under 20 times earnings in the coming months on a further market drop. Shares currently yield 1.2 percent, but patient buyers can likely get a better starting yield.

    For traders, the January $110 calls, last going for about $3.35, can potentially move higher before expiration, although they may get a bit cheaper in the coming weeks. Traders should look to buy on a strong down day for the stock market, and potentially flip the options after any move higher in a few days.

     

    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.

  • Special: Stock Caught Trading Under Secret Name