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Tupperware stock gains 10% in 5 days as insiders load $2 million worth of TUP stock

Tupperware stock gains 10% in 5 days as insiders load $2 million worth of TUP stock
Dino
Kurbegovic
1 week ago
2 mins read

Tupperware Brands Corporation (NYSE: TUP), a leading global consumer product company, has not had a great year so far. Yet despite the stock slumping well over 50% year-to-date (YTD), insiders of the company snapped up $2.15 million worth of shares in June alone. 

According to a form filed with the SEC on June 14, the buying was led by Executive Vice Chairman Richard Goudis who bought shares valued at $1 million, the other purchases were made by Tupperware insiders and their families; among which the largest spender was Harbour Pamela Jones, Director of the company, who bought up $256,500 worth of shares. 

Meanwhile, the company missed on both metrics in their latest earnings, reported on May 4, 2022. The firm posted revenue of $348.1 million, a decrease of -15.9%, and a miss of $8.7 million. Similarly, earnings per share (EPS) were $0.12, a miss by $0.40.

TUP chart and analysis      

Conversely, shares of the company rallied over 11% in the last five days, on increased buying volume, closing slightly above the 20-day Simple Moving Average (SMA). Nonetheless, the shares are still down big with the May drop being over 68% on an unusual volume increase after the company missed its earnings. 

TUP 20-50-200 SMA lines chart. Source. Finviz.com data. See more stocks here.

Similarly, analysts rate the shares a moderate buy, predicting that in the next 12 months a possible average price for the shares could be $11.17, which is 68.48% higher than the current trading price of $6.63.

Wall Street TUP analysts’ price targets for TUP. Source: TipRanks

It seems as if the pandemic boom the stock has seen has fizzled out, along with the earnings miss and a downgrade by Citigroup (NYSE: C), the shares have come close to all-time lows. 

Insiders buying up stock in such large numbers could be a positive catalyst since they should know their business the best, and if they’re willing to risk their money, a change of sentiment could be coming.   

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Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk. 

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Dino Kurbegovic
Author

Dino is an investor and technology enthusiast with years of experience in managing complex projects. At Finbold he covers stories on stocks, investing, micro and macroeconomic trends. Also, he’s also building a micro solar power plants in his hometown.

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