Ryan Specialty’s (NYSE:RYAN) chairman and CEO, Patrick G. Ryan, bought 182,400 shares worth $6.18 million through multiple transactions on November 16. He is also the founder and owner of more than 10% of the company’s shares.
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The top executive moved to increase his exposure to the stock at a time when it has plunged about 22% over the past week. A major drop came on November 11 after Ryan released its third-quarter results. Investors were disappointed as both earnings and revenues missed analysts’ expectations.
Overall, corporate insiders have bought RYAN shares worth $5.1 million over the last three months. TipRanks’ Insider Trading Activity Tool shows that insider confidence in Ryan stock is currently Neutral.
Interestingly, TipRanks offers daily insider transactions as well as a list of top corporate insiders. It also provides a list of hot stocks that boast either a Very Positive or Positive insider confidence signal.
Is Ryan a Good Stock to Buy?
According to TipRanks, Ryan has a Hold consensus rating based on two Buys, two Holds, and one Sell. The average Ryan stock price target of $44.60 implies about 28.86% upside potential to current levels.
