Jorge Gonzales, President and CEO of The St. Joe Co (JOE), recently picked up 1,000 shares. The buy increased his holdings by nearly 5 percent, and came to a total price of just under $42,000.
This marks the first insider buy of 2021. A fund with a large ownership stake has been a seller this year. Looking at the past 3 years, C-suite executives and directors have only been buyers of shares.
Overall, company insiders own about 7 percent of shares. The company has seen shares rally 131 percent in the past year. As a developer of property in Northwest Florida, St. Joe has benefitted from population shifts out of large cities and into less densely populated areas.
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It’s no surprise that the company has seen revenue rise 122 percent over the past year, and the company sports a 27 percent profit margin.
Action to take: The national population shift underway still has some time to play out, and Northwest Florida is a slower beneficiary of those trends than other markets. There’s likely still a further rally in shares ahead.
Investors may like shares, as the dividend was recently doubled. However, the current yield is under 1 percent, so it’s not strictly a yield play.
For traders playing a rebound from the recent pullback, the September $50 calls look attractive here. Last trading for about $2.10, shares have traded as high as $56. On a move back to that price, these calls could nearly triple in value to $6.
Disclosure: The author of this article has no positions in the stock mentioned here, but may make a trade on this company after the next 72 hours. The author receives no compensation from any of the companies mentioned in this article.