Neostellar CEO Makes Big Insider Buy After Price Surge
Plus, Boeing fetches an upgrade and portfolio dividends on the horizon.
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On Monday, we picked up more shares of Neostellar Capital (NSLR) for the Portfolio at $9.93 and given the trading volume near 700,000 shares for the day compared to the average daily volume near 295,000 shares, we weren’t the only ones.
In that crowd we can count Neostellar CEO Mark Klein, who picked up another 26,040 shares at $9.60. Following the trade captured by a Form 4 filing with the SEC published on Tuesday, Klein’s stake in NSLR grew to 1,758,796 shares. It’s fair to say that, like us, he’s putting his money where his mouth is. We view that as a very positive sign in general and for our move on Monday.
For folks who missed that opportunity, remember we are nearing one of the slowest periods of the year for the market. While NSLR shares may not fall back to where Klein or the Portfolio picked them up on Monday, another shot could emerge. We’ll continue to focus on the longer-term opportunities as Neostellar monetizes its investment portfolio.
Portfolio Upgrades
Stop me if this sounds familiar, but on Tuesday Argus Research upgraded Boeing (BA) shares to Buy from Hold, citing expectations for a meaningful increase in aircraft production along with continued improvement in the company’s financial performance. Argus’s price target is at $265, which matches ours. Perhaps we should see if the Argus team subscribes to TheStreet Portfolio…
We kid, we kid, but on a more serious note, we will have more to say about rising production and backlog at Boeing when the company releases its July delivery and orders figures later this week.
Portfolio Dividends on the Horizon
On Monday, American Express (AXP) paid its latest quarterly dividend to shareholders on July 2. That means, we here at the Portfolio pocketed $0.95 per share. Later this week, we’ll pick up quarterly dividend payments from Apple (AAPL) and Morgan Stanley (MS). Rounding out the month, ones from Welltower (WELL), United Rentals (URI) and Eaton (ETN) will also be paid out.
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At the time of publication, TheStreet Pro Portfolio was long AAPL, AXP, BA, ETN, MS, NSLR, URI and WELL.
