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

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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Source: https://finbold.com/tupperware-stock-gains-10-in-5-days-as-insiders-load-2-million-worth-of-tup-stock/