One stock that insiders are loading up here is BlackRock (BLK), an independent investment management firm. Insiders are buying this stock into some modest strength, since shares are up around 6% so far in 2012.
BlackRock has a market cap of $32 billion and an enterprise value of $36 billion. This stock trades at a reasonable valuation, with a trailing price-to-earnings of 14.67 forward price-to-earnings of 12.64. Its estimated growth rate for this year is 13%, and for next year it's pegged 11.9%. This is not a cash-rich company, since the total cash position on its balance sheet is $25.95 billion and its total debt is $29.87 billion.>>5 Big Trades From the Financial Sector A director just bought 300,000 shares, or about $57.07 million worth of stock, at $189.01 to $192 per share. From a technical perspective, BLK is currently trending above both its 50-day and 200-day moving averages, which is bullish. This stock has been uptrending very strong for the past four months, with shares soaring from $162.46 to its recent high of $192.08 a share. During that uptrend, shares of BLK have been consistently making higher lows and higher highs, which is bullish technical price action. That move has now pushed BLK within range of triggering a near-term breakout trade. If you're bullish on BLK, then I would look for long-biased trades once this stock manages to take out some near-term overhead resistance levels at $191.99 to $192.08 a share with high volume. Look for a sustained move or close above those levels with volume that hits near or above its three-month average action of 668,398 shares.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV