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TheStreet Open House

5 Stocks Insiders Love Right Now

Stock quotes in this article: LINE, CAB, TSLA, TSRA, BXMT


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Another name that insiders are jumping into here is Cabela's ( CAB), a specialty retailer and a direct marketer of hunting, fishing, camping and related outdoor merchandise. Insiders are buying this stock into big time strength, since shares are up a whopping 62% so far in 2013.

Cabela's has a market cap of $4.7 billion and an enterprise value of $7.1 billion. This stock trades at a reasonable valuation, with a trailing price-to-earnings of 24.78 and a forward price-to-earnings of 17.36. Its estimated growth rate for this year is 26.1%, and for next year it's pegged at 13.1%. This is not a cash-rich company, since the total cash position on its balance sheet is $82.04 million and its total debt is $2.48 billion.

>>5 Toxic Stocks to Unload in June

A director just bought 5,000 shares, or about $334,000 worth of stock, at $67.50 per share. That same director also just bought 5,000 shares, or about $332,000 worth of stock, at $66.50 per share.

From a technical perspective, CAB is currently trending above both its 50-day and 200-day moving averages, which is bullish. This stock has been trending sideways inside of a consolidation pattern for the last few weeks, with shares moving between $65.49 on the downside and close to $70 a share on the upside. A high-volume move above the upper end of its recent range could trigger a major breakout trade for shares of CAB.

If you're in the bull camp on CAB, then look for long-biased as long as this stock is trending above some key near-term support levels at $65.49 or above its 50-day at $63.79, and then once it breaks out above some near-term overhead resistance levels at $69.21 to $70 a share with high volume. Look for a sustained move or close above those levels with volume that registers near or above its three-month average action of 690,680 shares. If that breakout triggers soon, then CAB will set up to re-test or possibly take out its next major overhead resistance level at its 52-week high of $72.54 a share. Any high-volume move above its 52-week high could easily send shares of CAB north of $80 a share.

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