Arnold Ursaner, a director at Volt Information Sciences (VOLT), recently bought 3,500 shares. The buy increased his holdings by 3 percent, and came to a total cost of just over $12,500.
This buy marks the first insider transaction since 2019. Company insiders were bullish on shares in late 2019, with a number of directors and C-suite executives making buys. There have been no insider sales over the past three years.
Overall, company insiders own over 35 percent of shares. The job placement and outsourcing company was hit hard at the start of the pandemic, but has come back strongly in recent months. Shares are up 450 percent over the past year.
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While the company was unprofitable in the past year, the trend is closing in on profitability, with shares trading at 20 times forward earnings.
Action to take: This is a play on a recovering labor market that could continue to perform well in the months ahead on continued labor numbers. Trading for under $4 per share, investors and traders alike could pick up shares with a price target at $5 or better in the coming months for a 20 percent unleveraged return.
Traders may also like the August $5 calls, which offer some upside potential for less capital upfront. The option last carried a bid/ask spread of $0.35, and could potentially provide triple-digit returns on a continued surge in shares.
Disclosure: The author of this article has no positions in the stock mentioned here, and has no intention of changing or starting a new position in the next 72 hours. The author receives no compensation from any of the companies mentioned in this article.