tiprankstipranks
TipRanksStock Market NewsVOXX NewsA Top Insider Just Increased His Appetite for VOXX Stock
Market News

A Top Insider Just Increased His Appetite for VOXX Stock

Story Highlights

A top insider increasing his stake in the company hints at its promising future prospects.

In a filing with the Securities Exchange Commission (SEC), a top shareholder of VOXX International Corporation (NASDAQ: VOXX), Kahli Beat, revealed that he has increased his stake in the company.

Voxx International is a consumer electronics company, which is primarily focused on OEM and after-market automotive electronics, consumer electronics accessories, and consumer and commercial audio equipment.

Shares of the company declined 5.3% on Wednesday to close at $7.94.

Transaction Details

On May 31, Beat, who is a Director at VOXX International and owns more than a 10% stake in the company, bought 10,000 shares at an average price of $8.36 per share. Following the transaction, the director now owns 4,475,001 shares of the company worth roughly $37.4 million.

On May 23, the top shareholder of VOXX International bought 19,855 shares of the company at an average price of $7.49 per share. On May 24, he bought 20,145 shares at a per-share price of $7.41.

Between May 21 and May 31, Beat bought a total of 85,001 shares of the company, including the ones that were purchased on May 31.

Stock Rating

Last month, D.A. Davidson analyst Tom Forte reiterated a Hold rating on the stock with a price target of $20 (151.9% upside potential). Shares of the company have declined 48.9% over the past year.

Insiders on TipRanks

TipRanks’ Insider Trading Activity tool shows that Insider Confidence Signal is currently Positive on VOXX, as Corporate Insiders have bought shares worth $947,700 in the last three months.

Conclusion

A key insider like Kahli Beat loading up on VOXX stock conveys that the company’s fundamentals are solid, and it is well-positioned for growth.

Read full Disclosure

Tired of arriving late to the Big Returns Party?​
Most investors don’t have major gainers like TSLA or NVDA on their radar from the start.
The profusion of opinions on social media and financial blogs makes it impossible to distinguish between real growth potential and pure hype.
​​For the past decade, we have developed and perfected technology designed to help private investors, just like you, find the best opportunities, with the greatest upside potential, in any financial climate.​
Learn More