Insiders at National Vision Holdings and Kennametal Make Significant Stock Purchases

Two notable insider buying transactions took place at National Vision Holdings, Inc. (NASDAQ: EYE) and Kennametal Inc. (NYSE: KMT), with Director D. Randolph Peeler purchasing 34,000 EYE shares and VP Sanjay Chowbey buying 10,000 KMT shares, signaling a potential positive outlook for both companies' future performance." This description focuses on the primary topic of insider buying transactions, the main entities involved (National Vision Holdings and Kennametal, as well as the individuals making the purchases), and the context of the stock market. It also highlights the significant actions and implications of these transactions, which will help guide the AI in creating an accurate visual representation of the article's content.

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Aqsa Younas Rana
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Insiders at National Vision Holdings and Kennametal Make Significant Stock Purchases

Insiders at National Vision Holdings and Kennametal Make Significant Stock Purchases

On Friday, two notable insider buying transactions took place at National Vision Holdings, Inc. (NASDAQ: EYE) and Kennametal Inc. (NYSE: KMT). Director D. Randolph Peeler of National Vision Holdings purchased 34,000 EYE shares for a total of $491,198, while VP Sanjay Chowbey of Kennametal bought 10,000 KMT shares amounting to $260,000.

Why this matters: Insider buying activity can be a key indicator of a company's future performance, and these significant purchases may signal a positive outlook for both National Vision Holdings and Kennametal. As investors closely watch these companies, these insider buys could have a broader impact on the market and influence investment decisions.

Peeler acquired the National Vision Holdings shares at a weighted average price of $14.447 per share, with prices ranging from $14.38 to $14.60. This transaction substantially increases his direct and indirect holdings in the company, with a combined total of 182,880 shares directly held through The David Randolph Peeler Trust - 2001, and an additional 42,867 shares held directly.

The purchase reflects a vote of confidence from Peeler in the eyewear company, which specializes in ophthalmic goods and services. National Vision Holdings has a market capitalization of $1.17 billion, indicating its size and significance in the sector. Despite this insider buy, the company's stock has experienced a significant decline over the last three months, with a price total return of -27.37%.

Over at Kennametal, VP Sanjay Chowbey's purchase of 10,000 KMT shares at $26.00 each increased his stake by 29%. This marks the first insider buy in the stock since May 2022, potentially signaling a positive outlook for the company's future performance.

Insider buying activity can often be a leading indicator of future price movement in stocks, as executives and directors may have access to material non-public information about their companies. Investors will likely be keeping a close eye on both National Vision Holdings and Kennametal following these significant insider purchases. National Vision's next earnings date on August 8, 2024, will be a key event for the company and its shareholders.

Key Takeaways

  • Director D. Randolph Peeler bought 34,000 National Vision Holdings (EYE) shares for $491,198.
  • VP Sanjay Chowbey purchased 10,000 Kennametal Inc. (KMT) shares for $260,000.
  • Insider buying activity can signal a positive outlook for a company's future performance.
  • National Vision Holdings' stock has declined 27.37% over the last three months.
  • Next earnings date for National Vision Holdings is August 8, 2024.