The last few months, with the exception of some short bullish trading runs, have been brutal for the markets. Stocks are down, pretty much across the board. The tech-heavy NASDAQ index has fallen 25% year-to-date, while the broader S&P 500 is down 16%.
As for causes to the market turndown, you can take your pick. Supply chains remain snarled, and the Chinese government’s anti-COVID lockdown policies and the Russian war against Ukraine aren’t helping that matter any. Inflation, which started taking off a year ago, remains stubbornly high, at levels not seen in 40 years or more. And while the job market continues to show gains, the economy is still short more than a million jobs from pre-pandemic levels.
So it’s a tough macro-economic picture, one that makes it ever more difficult for investors to know just what moves to make. It’s time to find a signal, some sign that will show just what stocks are likely to bring returns going forward.
This is where the Insiders’ Hot Stocks tool at TipRanks can clarify matters. By tracking the trading activity of corporate officers, the insiders, investors can see what stocks getting snapped up by ‘those in the know,’ and can follow their lead. We’ve gotten that process started, pulling up the details on two beaten-down stocks that have both shown some major insider buying. Let’s take a closer look.
iMedia Brands (IMBI)
First up is iMedia Brands, a leader in the interactive media world with a portfolio of assets including a strong presence in the niche of TV-shopping universe. iMedia’s channels include ShopHQ and ShopHQ Health, ShopBulldogTV, and ShopLaventa, along with such digital assets as the end-to-end OTT streaming service Float left, and the digital logistics service i3PL. Last fall, iMedia closed its latest acquisition, of 123tv, the German television retail marketplace, in a deal worth $93 million, including a $72 million cash payment.
iMedia will be presenting its 1Q22 numbers later this month, but in a preliminary release management said it expects a top line between $154 million and $157 million. This…